Cash Discount Act

Summary

Cash Discount Act - Title I: Cash Discounts - Amends the Truth in Lending Act to stipulate that any discount (currently, discounts up to five percent) offered by sellers from the "regular price" to induce payment by cash or other means not involving open-end credit plans or credit cards shall not constitute a finance charge. Voids any rule of the Board of Governors of the Federal Reserve System promulgated under the current provision. Title II: Ban on Credit Card Surcharges - Extends the termination of the prohibition against credit card surcharges from February 27, 1981, to February 27, 1983.

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Documents

5 official files

• Public Law (PDF)

  Public Law · EN · 28 July 1981

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• Conference report filed in House

  summary · EN · 23 June 1981

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• Passed Senate amended

  summary · EN · 12 March 1981

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• Passed House amended

  summary · EN · 24 February 1981

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• Introduced in House

  summary · EN · 5 January 1981

  Open at official source

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