[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3102 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 3102

 To amend the Truth in Lending Act, Truth in Savings Act, and Consumer 
         Leasing Act to modify certain disclosure requirements.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 21, 1993

Mr. LaRocco (for himself and Mr. Castle) introduced the following bill; 
   which was referred to the Committee on Banking, Finance and Urban 
                                Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend the Truth in Lending Act, Truth in Savings Act, and Consumer 
         Leasing Act to modify certain disclosure requirements.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CONSUMER CREDIT DISCLOSURES.

    The Truth in Lending Act of 1968 (15 U.S.C. section 1601 et seq.) 
is amended by inserting the following new section 1639:

           ``consumer credit disclosures in radio advertising

    ``Sec. 1639. For advertisements, announcements, or solicitations 
made through any radio broadcast, the disclosures required by section 
1637 and section 1638 of this title may be made by providing consumers 
with access to the disclosure information through toll-free telephone 
numbers or by other means which provide consumers with the disclosure 
information prior to the extension of credit.''.

SEC. 2. CONSUMER SAVINGS DISCLOSURES.

    Section 4303(b) of The Truth in Savings Act of 1991 (12 U.S.C. 
section 4301 et seq.) is amended:
            (1) by redesignating section 4302(b) as section 4302(b)(2); 
        and
            (2) by inserting immediately before it the following new 
        subsection:
    ``(b)(1) For advertisements, announcements, or solicitations made 
through any radio broadcast, the disclosures required by this section 
may be made by providing consumers with access to the disclosure 
information through toll-free telephone numbers or by other means which 
provide consumers with the disclosure information prior to the opening 
of an account.''.

SEC. 3. CONSUMER LEASE DISCLOSURES.

    Section 1667c of the Consumer Leasing Act of 1976 (15 U.S.C. 
section 1601 et seq.) is amended--
            (1) by redesignating section 1667c(b) as section 1667c(c); 
        and
            (2) by inserting immediately before it the following new 
        subsection:
    ``(b) For advertisements, announcements, or solicitations made 
through any radio broadcast, the disclosures required by this section 
may be made by providing consumers with access to the disclosure 
information through toll-free telephone numbers or by other means which 
provide consumers with the disclosure information prior to a lease.''.

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