S.Amdt. 63
What it does: Adds SEC. ___. CALCULATION OF FINANCE CHARGE DURING GRACE PERIOD wherever appropriate
Sen. Carl Levin (D-MI)What it changes
1 change to S. 256
Adds SEC. ___. CALCULATION OF FINANCE CHARGE DURING GRACE PERIOD wherever appropriate
Adds a sectionInserted: SEC. ___. CALCULATION OF FINANCE CHARGE DURING GRACE PERIOD.
Inserted: Section 127 of the Truth in Lending Act (15 U.S.C. 1637) is amended by adding at the end the following:
Inserted: "(h) Calculation of Finance Charge During Grace Period.--A creditor may not impose a finance charge with respect to any amount paid on time.".
The amendment doesn't say where this goes; the clerk decides.
Original wording
At the appropriate place, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 63. Mr. LEVIN (for himself and Mr. Pryor) submitted an amendment intended to be proposed by him to the bill S. 256, to amend title 11 of the United States Code, and for other purposes; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
SEC. ___. CALCULATION OF FINANCE CHARGE DURING GRACE PERIOD.
Section 127 of the Truth in Lending Act (15 U.S.C. 1637) is amended by adding at the end the following:
“(h) Calculation of Finance Charge During Grace Period.--A creditor may not impose a finance charge with respect to any amount paid on time.”.
Legislative Activity
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Senate amendment submitted
March 7, 2005