CONSUMER CREDIT PROTECTION ACTI AN ACT To safeguard the consumer in connection with the utilization of credit by requiring full disclosure of the terms and conditions of finance charges in credit transactions or in offers to extend credit; *** and for other purposes. . [Public Law 90-321 approved May 29, 1968 (82 Stat. 146, 15 U.S.C. 1601), as amended by Public Law 91-508 approved Oct. 26, 1970 (84 Stat. 1126), which added provisions relating to credit cards and the Fair Credit Reporting Act; Public Law 93-495 approved Oct. 28, 1974 (88 Stat. 1511), which added the Fair Credit Billing Act, the More-than-four-installment Rule, the Equal Credit Opportunity Act, and made other amendments to the Truth in Lending Act; Public Law 94-205 approved Jan. 2, 1976 (89 Stat. 1159), which repealed § 121 (c) of the Truth in Lending Act; Public Law 94-222 approved Feb. 27, 1976 (90 Stat. 197), which amended the Truth in Lending Act; Public Law 94-239 approved Mar. 23, 1976 (90 Stat. 251), which amended the Equal Credit Opportunity Act; and Public Law 94-240 approved Mar. 23, 1976 (90 Stat. 257), which added the Consumer Leasing Act of 1976.] CONTENTS Title I-Consumer Credit Cost Disclosure Chapter 1-General Provisions Sec. 101 Short title (Truth in Lending Act) 102 Findings and declaration of purpose 103 Definitions and rules of construction 104 Exempted transactions 105 Regulations 106 Determination of finance charge 107 Determination of annual percentage rate The Act as set forth herein is a compilation of the various amendments to the original Act, and should not be construed as replacing any of the amendatory Acts or relied upon as an official source in lieu of the United States Code. 112 Criminal liability for willful and knowing violation 113 Penalties inapplicable to governmental agencies 114 Reports by Board and Attorney General 115 Liability of assignees Chapter 2-Credit Transactions Sec. 121 General requirement of disclosure 122 Form of disclosure; additional information 123 Exemption for State-regulated transactions 124 Effect of subsequent occurrence 125 Right of rescission as to certain transactions 126 Content of periodic statements 127 Open end consumer credit plans 128 Sales not under open end credit plans 129 Consumer loans not under open end credit plans 130 Civil liability 131 Written acknowledgment as proof of receipt 132 Issuance of credit cards 133 Liability of holder of credit card 141 Catalogs and multiple-page advertisements 144 Advertising of credit other than open end plans 145 Nonliability of media |