A bill to amend the Truth-in-Lending Act to require that statements under open-end credit plans be mailed in time to permit payment prior to the imposition of finance charges.

Requires that, under the Truth in Lending Act, a finance charge may not be imposed under an open end credit plan for any period unless a statement of the outstanding balance upon which the finance charge for that period is based is mailed at least twenty-one days prior to the date by which payment must be made in order to avoid imposition of that finance charge. (Adds 15 U.S.C. 1637(d))