Truth in Lending Act Amendments

[AI summary unavailable — showing source text] Truth in Lending Act Amendments - Title I: Fair Credit Billing - Fair Credit Billing Act - States that the term "creditor" means any person who regularly extends credit or arranges for the extension of credit in connection with loans, sales of property or services, or otherwise. Provides that the creditor shall transmit at the end of each billing cycle a statement setting forth the amount and date of each extension of credit during the period and a brief identification on or accompanying the statement in a prescribed form sufficient to enable the obligor to identify the transaction or relate it to copies of sales vouchers or similar instruments previously furnished. Provides that such billings shall set forth the address to be used by the creditor for the purpose of receiving billing inquiries from the obligor. Requires creditors to acknowledge customers' billing disputes within 30 days of receipt and to resolve such disputes within 90 days. Provides that any creditor who fails to comply with such requirement forfeits any right to collect from the obligor the amount indicated by the obligor and disputed and any finance charges thereon, not to exceed $50. Prohibits creditors from ta…