Consumer Credit Protection Act


 * Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

. SHORT TITLE OF ENTIRE ACT.

 * This Act may be cited as the ``Consumer Credit Protection Act´´.


 * TITLE I—CONSUMER CREDIT COST DISCLOSURE
 * CHAPTER 1—GENERAL PROVISIONS
 * Sec. 101. Short title.
 * Sec. 102. Findings and Declaration of Purpose.
 * Sec. 103. Definitions and Rules of Construction.
 * Sec. 104. Exempted transactions.
 * Sec. 105. Regulations.
 * Sec. 106. Determination of Finance Charge.
 * Sec. 107. Determination of Annual Percentage Rate.
 * Sec. 108. Administrative Enforcement.
 * Sec. 109. Views of Other Agencies.
 * Sec. 110. Advisory Committee.
 * Sec. 111. Effect on Other Laws.
 * Sec. 112. Criminal Liability for Willful and Knowing Violation.
 * Sec. 113. Penalties Inapplicable to Governmental Agencies.
 * Sec. 114. Reports by Board and Attorney General.
 * CHAPTER 2—CREDIT TRANSACTIONS
 * Sec. 121. General Requirement of Disclosure.
 * Sec. 122. Form of Disclosure; Additional Information.
 * Sec. 123. Exemption for State-regulated Transactions.
 * Sec. 124. Effect of Subsequent Occurrence.
 * Sec. 125. Right of Rescission as to Certain Transactions.
 * Sec. 126. Content of Periodic Statements.
 * Sec. 127. Open End Consumer Credit Plans.
 * Sec. 128. Sales Not Under Open End Credit Plans.
 * Sec. 129. Consumer Loans Not Under Open End Credit Plans.
 * Sec. 130. Civil Liability.
 * Sec. 131. Written Acknowledgment as Proof of Receipt.
 * CHAPTER 3—CREDIT ADVERTISING
 * Sec. 141. Catalogs and Multiple-page Advertisements.
 * Sec. 142. Advertising of Downpayments and Installments.
 * Sec. 143. Advertising of Open End Credit Plans.
 * Sec. 144. Advertising of Credit Other than Open End Plans.
 * Sec. 145. Nonliability of Media.


 * TITLE II—EXTORTIONATE CREDIT TRANSACTIONS
 * Sec. 201. Findings and Purpose.
 * Sec. 202. Amendments to Title 18, United States Code.
 * Sec. 203. Reports by Attorney General.


 * TITLE III—RESTRICTION ON GARNISHMENT
 * Sec. 301. Findings and Purpose.
 * Sec. 302. Definitions.
 * Sec. 303. Restriction on Garnishment.
 * Sec. 304. Restriction on Discharge from Employment by Reason of Garnishment.
 * Sec. 305. Exemption for State-regulated Garnishments.
 * Sec. 306. Enforcement by Secretary of Labor.
 * Sec. 307. Effect on State Laws.


 * TITLE IV—NATIONAL COMMISSION ON CONSUMER FINANCE
 * Sec. 401. Establishment.
 * Sec. 402. Membership of the Commission.
 * Sec. 403. Compensation of Members.
 * Sec. 404. Duties of the Commission.
 * Sec. 405. Powers of the Commission.
 * Sec. 406. Administrative Arrangements.
 * Sec. 407. Authorization of Appropriations.


 * TITLE V—GENERAL PROVISIONS
 * Sec. 501. Severability.
 * Sec. 502. Captions and Catchlines for Reference Only.
 * Sec. 503. Grammatical Usages.
 * Sec. 504. Effective Dates.

Approved May 29, 1968.

Legislative History

 * HOUSE REPORTS:
 * No. 90-1040 (Comm. on Banking & Currency)
 * No. 90-1397 (Comm. of Conference)
 * SENATE REPORTS:
 * No. 90-392 (Comm. on Banking & Currency)
 * CONGRESSIONAL RECORD, Vol. 113 (1967):
 * July 11, considered and passed Senate.
 * CONGRESSIONAL RECORD, Vol. 114 (1968):
 * Jan. 30, 31, Feb. 1, considered and passed House amended in lieu of H.R. 11601.
 * May 22, House and Senate agree to conference report.
 * WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, (1968):
 * May 29, Presidential remarks.
 * May 29, Presidential remarks.