Truth in Lending Act Amendments

[AI summary unavailable — showing source text] Truth in Lending Act Amendments - Title I: Fair Credit Billing Act - Extends the purpose of the Truth in Lending Act to include the protection of the consumer against inaccurate and unfair credit billing and credit card practices. Adds a new chapter to the Truth in Lending Act making specific regulations to protect the consumer in the following areas: (1) corrections of billing errors; (2) notice and length of time in acting upon credit reports; (3) crediting of an obligor's account promptly; (4) crediting of an obligor's account to indicate excess payment; (5) prompt notification to a creditor of the return of merchandise purchased on credit; (6) prohibition against imposing a finance charge on the remaining balance of an account after the overdue amount has been paid in full; (7) regulations as to the manner and mode in which finance charges may be imposed; (8) regulations as to those discounts which may be given to a credit card holder by the seller as an incentive for the card holder to pay in cash; (9) regulations preventing the issuer of a credit card from requiring the seller to procure after services from the issuer as a condition to participating in the credit card plan; a…