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United States · Bill · HR

H.R. 6928 (96th)

Cash Discount Act

referredUnited States· United States Congress· EN

Introduced

26 March 1980

Last action

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Status

Referred to House Committee on Banking, Finance and Urban Affairs.

Sponsors

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Subjects

Discovery layer

Source updated

2 September 2025

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Summary

Cash Discount Act - Amends the Truth in Lending Act to provide that any discount, given by a seller to a buyer to induce payment in cash or by other means not involving a credit card, shall not constitute a finance charge. Repeals requirements that such a discount: (1) not exceed five percent; (2) be offered to all prospective buyers; and (3) be adequately disclosed in accordance with regulations of the Board of Governors of the Federal Reserve System. Repeals the authority of the Board to promulgate regulations characterizing cash discounts as finance charges under the Truth in Lending Act or State usury and credit disclosure laws.

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Documents

1 official file

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Sources

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