[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 183 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 183

 To amend the Truth in Lending Act to require lenders to post current 
  interest rates charged for various categories of loans to consumers.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 4, 1995

   Mrs. Collins of Illinois introduced the following bill; which was 
      referred to the Committee on Banking and Financial Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Truth in Lending Act to require lenders to post current 
  interest rates charged for various categories of loans to consumers.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That (a) chapter 3 of 
the Truth in Lending Act (15 U.S.C. 1661 et seq.) is amended by adding 
at the end thereof the following new section:
``Sec. 148. Posting of rates of interest charged for various categories 
              of loans to consumers
    ``(a) A creditor shall post a sign at each place of business where 
he extends credit to consumers which--
            ``(1) shall state in clear and conspicuous language the 
        current rates of interest he charges for each category of loan 
        he makes to consumers;
            ``(2) shall be situated so that it is easily visible to 
        individuals who enter the premises of the creditor; and
            ``(3) complies with regulations prescribed by the Board 
        under this section.
    ``(b) The Board shall prescribe regulations to carry out this 
section.''.
    (b) The table of sections of such chapter is amended by adding at 
the end thereof the following new item:

``148. Posting of rates of interest charged for various categories of 
                            loans to consumers.''.
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