Cash Discount Act

Cash Discount Act -Title I: Cash Discounts - Amends the Truth in Lending Act to stipulate that any discount (currently, discounts up to five percent) offered by sellers from the "regular price" to induce payment by cash or other means not involving open-end credit plans or credit cards shall not constitute a finance charge. Voids any rule of the Board of Governors of the Federal Reserve System promulgated under the current provision.

Title II: Ban on Credit Card Surcharges - Extends the termination of the prohibition against credit card surcharges from February 27, 1981, to February 27, 1984.

Directs the Board of Governors of the Federal Reserve System to report to the Congressional banking committees within two years of enactment on the effect of charge card transactions upon card issuers, merchants, and consumers.

Title III: Miscellaneous - Makes a technical amendment providing that creditors who elect to comply with the Truth in Lending Simplification Act of April 1, 1981, are subject to the amended civil liability provisions of such Act.

Permits any national banking association which, on the date of enactment, holds title to real estate which it carried on its books at a nominal rate on December 31, 1979, to continue to hold such real estate until December 31, 1982, if the earnings from such real estate are disclosed separately in its financial statements.