To amend the Truth in Lending Act to provide that, for purposes of any grace period offered by a creditor, the date on a postmark shall establish the date on which payment was made unless the consumer establishes that payment was made on an earlier date.
Date of Payment Act - Amends the Truth in Lending Act to require a creditor, for purposes of determining when a payment was made by a consumer on any open or closed end consumer credit plan, to treat the postmark on the envelope as the date on which payment was made, unless the consumer provides evidence that such payment was made before such date.
Introduced in House
Introduced in House
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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