S.Amdt. 84
What it does: Rewrites page 480, line 20
Sen. John F. Kerry (D-MA)What it changes
1 change to S. 256
Rewrites page 480, line 20
ReplacesPrinted pageRemoves page 480, line 20 of the printed bill. See that page
Inserted: in by the creditor).
Inserted: "(11a)(A) Repayment information that would apply to any annual percentage rate applicable to the consumer's account under the credit plan, including information regarding any change in any annual percentage rate charged to the consumer under the plan, appearing in conspicuous type on the front of the first page of the first billing statement prepared following the change, and accompanied by an appropriate explanation, containing--
Inserted: "(i) the words 'THERE HAS BEEN A CHANGE IN THE ANNUAL PERCENTAGE RATE FOR YOUR ACCOUNT.';
Inserted: "(ii) the words 'THE PREVIOUS INTEREST RATE:' followed by the previous annual percentage rate charged to the consumer under the plan; and
Inserted: "(iii) the words 'THE CURRENT INTEREST RATE' followed by the current annual percentage rate charged to the consumer under the plan.
Inserted: "(B) Any creditor who fails to comply with subparagraph (A), shall not be entitled to use the benefits and presumptions provided to creditors under section 707(b)(2) of title 11, United States Code.".
Original wording
On page 480, strike line 20, and insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 84. Mr. KERRY 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:
On page 480, strike line 20, and insert the following:
in by the creditor).
“(11a)(A) Repayment information that would apply to any annual percentage rate applicable to the consumer's account under the credit plan, including information regarding any change in any annual percentage rate charged to the consumer under the plan, appearing in conspicuous type on the front of the first page of the first billing statement prepared following the change, and accompanied by an appropriate explanation, containing--
“(i) the words ‘THERE HAS BEEN A CHANGE IN THE ANNUAL PERCENTAGE RATE FOR YOUR ACCOUNT.';
“(ii) the words ‘THE PREVIOUS INTEREST RATE:' followed by the previous annual percentage rate charged to the consumer under the plan; and
“(iii) the words ‘THE CURRENT INTEREST RATE' followed by the current annual percentage rate charged to the consumer under the plan.
“(B) Any creditor who fails to comply with subparagraph (A), shall not be entitled to use the benefits and presumptions provided to creditors under section 707(b)(2) of title 11, United States Code.”.
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Senate amendment submitted
March 7, 2005