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1 resources of the creditor, the number of persons adversely af2 fected, and the extent to which the creditor's failure of com3 pliance was intentional."

4 (b) Section 130 (b) of such Act (15 U.S.C. 1640 (b) ) 5 is amended by inserting after "this section" the first place it 6 appears the following: "for any failure to comply with any 7 requirement imposed under this chapter,".

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(c) Section 130 (c) of such Act (15 U.S.C. 1640 (c) ) 9 is amended by striking out "chapter" and inserting in lieu 10 thereof "title".

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(d) Section 130 of such Act (15 U.S.C. 1640) is 12 amended by adding at the end thereof a new subsection as 13 follows:

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"(h) A person may not take action to offset any 15 amount for which a creditor is potentially liable to such 16 person under subsection (a) (2) against any amount owing 17 to such creditor by such person, unless the amount of the 18 creditor's liability to such person has been determined by 19 judgment of a court of competent jurisdiction in an action 20 to which such person was a party."

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(c) The amendments made by sections 206, 207, and 22 208 shall apply in determining the liability of any person 23 under chapter 2 or 4 of the Truth in Lending Act, unless 24 prior to the date of enactment of this Act such liability has 25 been determined by final judgment of a court of competent

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1 jurisdiction and no further review of such judgment may be

2 had by appeal or otherwise.

3 § 214. Credit card fraud

4

Section 134 of the Truth in Lending Act (15 U.S.C.

5 1644) is amended to read as follows:

6 "8134. Fraudulent use of credit card

7 "(a) Whoever knowingly in a transaction affecting 8 interstate or foreign commerce, uses or attempts or con9 spires to use any counterfeit, fictitious, altered, forged, lost, 10 stolen, or fraudulently obtained credit card to obtain money, 11 goods, services, or anything else of value which within any 12 one-year period has a value aggregating $1,000 or more; or 13 "(b) Whoever, with unlawful or fraudulent intent, 14 transports or attempts or conspires to transport in interstate or foreign commerce a counterfeit, fictitious, altered, forged, 16 lost, stolen, or fraudulently obtained credit card knowing the

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same to be counterfeit, fictitious, altered, forged, lost, stolen, 18 or fraudulently obtained; or

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"(c) Whoever, with unlawful or fraudulent intent,

uses any instrumentality of interstate or foreign commerce 21 to sell or transport a counterfeit, fictitious, altered, forged, 22 lost, stolen, or fraudulently obtained credit card knowing the

23 same to be counterfeit, fictitious, altered, forged, lost, stolen,

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or fraudulently obtained; or

"(d) Whoever knowingly receives, conceals, uses, or

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1 transports, money, goods, services, or anything else of value 2 (except tickets for interstate or foreign transportation) 3 which (1) within any one-year period has a value aggregat 4 ing $1,000 or more, (2) has moved in or is part of, or 5 which constitutes interstate or foreign commerce, and (3) 6 has been obtained with a counterfeit, fictitious, altered, 7 forged, lost, stolen, or fraudulently obtained credit card; or 8 "(e) Whoever knowingly receives, conceals, uses, sells, 9 or transports in interstate or foreign commerce one or more 10 tickets for interstate or foreign transportation, which (1) 11 within any one-year period have a value aggregating $500 12 or more, and (2) have been purchased or obtained with one 13 or more counterfeit, fictitious, altered, forged, lost, stolen, or 14 fraudulently obtained credit cards; or

15. "(f) Whoever in a transaction affecting interstate or 16 foreign commerce furnishes money, property, services, or 17 anything else of value, which within any one-year period 18 has a value aggregating $1,000 or more, through the use 19 of any counterfeit, fictitious, altered, forged, lost, stolen, or 20 fraudulently obtained credit card knowing the same to be 21 counterfeit, fictitious, altered, forged, lost, stolen, or 22 fraudulently obtained

23 shall be fined not more than $10,000 or imprisoned not 24 more than ten years, or both."

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1 $215. Grace period for consumers

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Section 127 of the Truth in Lending Act (15 U.S.C.

3 1637) is amended

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(1) by amending subsection (a) (1) to read as

follows:

"(1) The conditions under which a finance charge may be imposed, including the time period (if any) within which any credit extended may be repaid with

out incurring a finance charge, except that the creditor

may, at his election and without disclosure, impose no such finance charge if payment is received after the termination of such time period."; and

(2) by amending subsection (b) (10) to read as follows:

"(10) The date by which or the period (if any) within which, payment must be made to avoid additional finance charges, except that the creditor may, at his

election and without disclosure, impose no such addi

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tional finance charge if payment is received after such date or the termination of such period."

21 §216. Credit life insurance and accident and health insur

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23 (a) (1) Chapter 2 of the Truth in Lending Act (15

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U.S.C. 1631-1644) is amended by adding at the end thereof 25 a new section as follows:

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1 "§ 135. Disclosure of cost of credit insurance

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"Any premium for life or accident and health insurance

3 charged by a creditor in connection with any extension of 4 credit shall be stated both as a dollar amount and as an an5 nual percentage rate and shall be disclosed at the same time 6 and in the same manner as the finance charge is required to be disclosed under this chapter and the regulations of the 8 Board thereunder."

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9 (2) The table of sections of such chapter is amended 10 by adding at the end thereof the following new item:

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"135. Disclosure of cost of credit insurance.".

(b) (1) Section 142 of the Truth in Lending Act (15

12 U.S.C. 1662) is amended to read as follows:

13 "8142. Advertising of downpayments, installments, and

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credit insurance

"No advertisement to aid, promote, or assist directly or indirectly any extension of consumer credit may state"(1) that a specific periodic consumer credit amount or installment amount can be arranged, unless the creditor usually and customarily arranges credit payments or installments for that period and in that amount.

"(2) that a specified downpayment is required in connection with any extension of consumer credit, unless

the creditor usually and customarily arranges downpay

ments in that amount.

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