Amends the Truth in Lending Act to stipulate that any discount (currently, discounts up to five percent) offered by a seller from the "regular price" to induce payment by cash or other means not involving an open-end credit plan or credit card shall not constitute a finance charge. Requires that a seller make known to buyers the availability of a discount.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Consumer Affairs and Coinage.
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