U.S. Congress - H.R.4002 Truth in Lending Clarification Act of 2009
H.R.4002 - Truth in Lending Clarification Act of 2009
To amend the Truth in Lending Act to clarify that any delay in changes to terms applies only to increases, not decreases. view all titles (2)
All Bill Titles
- Official: To amend the Truth in Lending Act to clarify that any delay in changes to terms applies only to increases, not decreases. as introduced.
- Short: Truth in Lending Clarification Act of 2009 as introduced.
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Official Summary
11/3/2009--Introduced.Truth in Lending Clarification Act of 2009 - Amends the Truth in Lending Act concerning the mandatory 45-day advance notice of significant changes (including rate increases) under an open end consumer credit plan. Declares that such requirement does not prevent a credOfficial Summary
11/3/2009--Introduced.Truth in Lending Clarification Act of 2009 - Amends the Truth in Lending Act concerning the mandatory 45-day advance notice of significant changes (including rate increases) under an open end consumer credit plan. Declares that such requirement does not prevent a creditor from putting into effect immediately any reduction in an annual percentage rate (APR), any decrease or elimination of any fee imposed upon a consumer, or any significant change in terms solely or primarily for the benefit of the consumer....Read the Rest
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