H.R. 1747 · 108th Congress
Consumer Credit Disclosure Act of 2003
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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McGovernSponsor9 cosponsors · 9 D
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Ballance
MB
D
Bordallo
TL
D
Lantos
BL
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Lee
EN
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Norton
JO
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Olver
JS
D
Schakowsky
HW
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Waxman
LG
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Gutiérrez8 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Consumer Credit Disclosure Act of 2003 - Amends the the Truth in Lending Act to require enhanced disclosures under an open end consumer credit plan about repayment information applicable to the outstanding balance, including: (1) the required minimum monthly payment on that balance, represented as both a dollar figure and as a percentage of that balance;…
What it does: CRS summary · Introduced in House · Apr 10, 2003
Consumer Credit Disclosure Act of 2003 - Amends the the Truth in Lending Act to require enhanced disclosures under an open end consumer credit plan about repayment information applicable to the outstanding balance, including: (1) the required minimum monthly payment on that balance, represented as both a dollar figure and as a percentage of that balance; (2) the number of months (rounded to the nearest month) that it would take to pay the entire amount of that balance, if the consumer pays only the required minimum monthly payments and if no further advances are made; (3) the total cost to the consumer, including interest and principal payments, of paying that balance in full, if the consumer pays only the required minimum monthly payments and if no further advances are made; and (4) the monthly payment amount that would be required for the consumer to eliminate the outstanding balance in 36 months if no further advances are made.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Consumer Credit Disclosure Act of 2003
Latest action (Apr 29, 2003): Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Apr 10, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.