To amend the Truth in Lending Act to require a store in which a consumer may apply to open a credit or charge card account to display a sign, at each location where the application may be made, containing the same information required by such Act to be prominently placed in a tabular format on the application.

        [Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 833 Introduced in House (IH)]

109th CONGRESS
1st Session
H. R. 833

To amend the Truth in Lending Act to require a store in which a
consumer may apply to open a credit or charge card account to display a
sign, at each location where the application may be made, containing
the same information required by such Act to be prominently placed in a
tabular format on the application.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

February 15, 2005

Mr. Weiner introduced the following bill; which was referred to the
Committee on Financial Services

_______________________________________________________________________

A BILL

To amend the Truth in Lending Act to require a store in which a
consumer may apply to open a credit or charge card account to display a
sign, at each location where the application may be made, containing
the same information required by such Act to be prominently placed in a
tabular format on the application.

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

SECTION 1. DISCLOSURE REQUIREMENT FOR STORES ACCEPTING CREDIT AND
CHARGE CARD ACCOUNT APPLICATIONS.

(a) In General.--Section 122 of the Truth in Lending Act (15 U.S.C.
1632) is amended by adding at the end the following:
``(d) Signs Required on Certain Premises Where Credit or Charge
Card Account Applications Accepted.--
``(1) In general.--A person who sells personal property to
consumers on a business premises and makes available to
consumers on such premises any application to open a credit
card account under an open end consumer credit plan, or any
application to open a charge card account, shall display in the
premises on a sign any information that is subject to
subsection (c) and that is required to be disclosed by the
person on that application.
``(2) Format.--Such information shall be displayed on the
sign in the form and manner which the Board shall prescribe by
regulations and which, to the extent practicable and
appropriate, shall be consistent with the form and manner
required for the disclosure of such information on the credit
or charge card application.
``(3) Sign placement.--Such signs shall be conspicuously
placed at each location on the premises where the credit or
charge card application may be submitted by the consumer.''.
(b) Conforming Amendment.--Section 111(e) of the Truth in Lending
Act (15 U.S.C. 1610(e)) is amended by adding at the end the following:
``Section 122(d) shall supersede State laws relating to store display
of the information that is subject to the requirements of such section,
except that any State may employ or establish State laws for the
purpose of enforcing the requirements of such section.''.
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