Page:United States Statutes at Large Volume 82.djvu/200

 158

PUBLIC LAW 90-321-MAY 29, 1968

[82 STAT.

§ 141. Catalogs and multiple-page advertisements For the purposes of this chapter, a catalog or other multiple-page advertisement shall be considered a single advertisement if it clearly and conspicuously displays a credit terms table on which the information required to be stated under this chapter is clearly set forth. § 142. Advertising of downpayments and installments Xo 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 downpayments in that amount. § 143. Advertising of open end credit plans No advertisement to aid, promote, or assist directly or indirectly the extension of consumer credit under an open end credit plan may set forth any of the specific terms of that plan or the appropriate rate determined under section 127(a)(5) unless it also clearly and conspicuously sets forth all of the following items: (1) The time period, if any, within which any credit extended may be repaid without incurring a finance charge. (2) The method of determining the balance upon which a finance charge will be imposed. (3) The method of determining the amount of the finance charge, including any minimum or fixed amount imposed as a finance charge. (4) Where periodic rates may be used to compute the finance charge, the periodic rates expressed as annual percentage rates. (5) Such other or additional information for the advertising of open end credit plans as the Board may by regulation require to provide for adequate comparison of credit costs as between different types of open end credit plans. § 144. Advertising of credit other than open end plans (a) Except as provided in subsection (b), this section applies to any advertisement to aid, promote, or assist directly or indirectly any consumer credit sale, loan, or other extension of credit subject to the provisions of this title, other than an open end credit plan. (b) The provisions of this section do not apply to advertisements of residential real estate except to the extent that the Board may by regulation require. (c) If any advertisement to which this section applies states the rate of a finance charge, the advertisement shall state the rate of that charge expressed as an annual percentage rate. (d) If any advertisement to which this section applies states the amount of the downpayment, if any, the amount of any installment payment, the dollar amount of any finance charge, or the number of installments or the period of repayment, then the advertisement shall state all of the following items: (1) The cash price or the amount of the loan as applicable. (2) The downpayment, if any. (3) The number, amount, and due dates or period of payments scheduled to repay the indebtedness if the credit is extended.

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