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United States · Bill · HR

H.R. 814 (97th)

A bill to amend the Truth in Lending Act to encourage cash discounts.

referredUnited States· United States Congress· EN

Introduced

9 January 1981

Last action

—

Status

Referred to Subcommittee on Consumer Affairs and Coinage.

Sponsors

—

Subjects

Discovery layer

Source updated

6 February 2024

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Summary

Amends the Truth in Lending Act to stipulate that any discount (currently, discounts up to five percent) offered by a seller from the "regular price" to induce payment by cash or other means not involving an open-end credit plan or credit card shall not constitute a finance charge. Requires that a seller make known to buyers the availability of a discount.

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Documents

1 official file

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Sources

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