Credit Card Interest Rate Ceiling and Disclosure: Hearing Before the Subcommittee on Consumer Affairs and Coinage of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One-hundredth Congress, First Session, on H.R. 78; H.R. 244; H.R. 515; H.R. 1086; and H.R. 1584, March 18, 1987 |
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advertising AFFAIRS AND COINAGE American Express annual fee annual percentage rate availability bank card bank credit card card holders card interest rates cardholders cash advances ceiling on credit Chairman ANNUNZIO charge card competition CONGRESS THE LIBRARY consumer credit COSENTINO cost of funds credit card accounts credit card applications credit card cost credit card disclosure credit card industry credit card interest credit card issuers credit card market credit card operations credit card plans credit card rates creditor customers disclose disclosure bill disclosure legislation disclosure requirements discount rate Discover Card effect Federal Reserve finance charges Frank Annunzio grace period HILER Illinois imposed increase interest rate ceilings Lending Act LIBRARY OF CONGRES LIBRARY OF CONGRESS limited loans March 18 MasterCard offer open-end credit percent periodic rate prime rate rate cap regulations require disclosure Roth Schumer bill statement sumer take-one transaction Truth in Lending
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Page 34 - ... at this time I would like to recognize the ranking minority member of the Readiness Subcommittee, Mr.
Page 97 - Consummation" means the time that a consumer becomes contractually obligated on a credit transaction. (14) "Credit" means the right to defer payment of debt or to incur debt and defer its payment. (15) "Credit card...
Page 55 - Thank you very much, Mr. Chairman. We appreciate the opportunity to appear before you today on behalf of the members of the American Library Association to comment on HR 4572 and S.
Page 16 - ... Certain acquisitions by residents not 8 citizens. — Of stock or debt obligations by an individual 9 who is a resident but not a citizen of the United States, 10 during the 90-day period beginning on the date such 11 individual first became a resident of the United States." 12 (2) Section 4914 (j) (2) is amended by adding at 13 the end thereof the following new sentence: "For pur14 poses of this chapter, if, after February 27, 1967, a 15 United States person sells or otherwise disposes of stock...
Page 80 - ... (1) Any minimum, fixed, transaction, activity or similar charge that could be imposed. (2) Any periodic rate that may be applied expressed as an annual percentage rate as determined under § 226.14(b). If the plan provides for a variable periodic rate, that fact shall be disclosed. (3) Any membership or participation fee that could be imposed.
Page 76 - Let me simply say that those who don't learn from history are doomed to repeat it, and those who do not pass legislation triggered by recent history are doomed to see those same mistakes repeated.
Page 58 - I thank you for the opportunity to testify on an issue of great importance to our industry.