Fair Credit Billing Act Amendments - Defines the term "discount" for purposes of compliance with the provisions of the Truth in Lending Act as meaning a reduction made from the regular price in a transaction covered by such Act.
Stipulates that the term "discount" shall not, under specified application of the provisions of such Act, mean a surcharge.
Specifies that the term "surcharge" shall mean any method of increasing the regular price to a creditcard holder which is not imposed upon cash-paying customers.
Prohibits the imposition of a surcharge in specified instances covered by the Truth in Lending Act where the holder of a credit card elects to use his card in lieu of paying by cash or check.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Currency and Housing.
Measure called up under motion to suspend rules and pass in House.
Measure considered in House.
Passed/agreed to in House: Measure passed House, roll call #707 (398-3).
Roll Call #707 (House)Measure passed House, roll call #707 (398-3).
Roll Call #707 (House)Referred to Senate Committee on Banking, Housing and Urban Affairs.
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