HR 814 · 97th Congress · Finance and Financial Sector

A bill to amend the Truth in Lending Act to encourage cash discounts.

Introduced 1981-01-09· Sponsored by Rep. Gonzalez, Henry B. [D-TX-20]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to Subcommittee on Consumer Affairs and Coinage.(1981-03-02)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only