HR 268 · 96th Congress · Finance and Financial Sector
Truth in Lending Improvement Amendments of 1979
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Banking, Finance and Urban Affairs.(1979-01-15)
Plain Language Summary
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Truth in Lending Improvement Amendments of 1979 - Amends the Truth in Lending Act to require each appropriate regulatory agency to conduct biennial examinations of every creditor subject to the requirements of such Act. States that whenever any agency has reason to believe as a result of the examination that there has been a substantial violation, as defined by this Act, it shall publish in the Federal Register the name of the creditor and specified information concerning the violation, not more than 30 days after the date on which the examination report has been completed. Requires such agency to notify the creditor of the violation and of the date by which the agency will publish such information. Permits the creditor to submit a written response to the apparent violation which the agency must publish in the Federal Register. Requires the creditor to notify the consumer, upon the direction of the agency, when specified requirements of the Truth in Lending Act appear to have been violated. Directs the agency to notify such consumer if the creditor fails to do so. States that such notice shall include: (1) the fact that the agency found a violation; (2) the nature of the violation;…
Summarized by Claude AI · Non-partisan · For informational purposes only