[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6531 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 6531

To strengthen the disclosure requirements for creditors under the Truth 
                            in Lending Act.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 25, 2018

 Mr. Price of North Carolina introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To strengthen the disclosure requirements for creditors under the Truth 
                            in Lending Act.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Online Credit Card Disclosure Act of 
2018''.

SEC. 2. ONLINE PAYMENT TIMING DISCLOSURES.

    Section 127(b)(11) of the Truth in Lending Act (15 U.S.C. 
1637(b)(11)) is amended--
            (1) in subparagraph (D)--
                    (A) in clause (i), by striking ``; and'' and 
                inserting a semicolon;
                    (B) in clause (ii), by striking the period and 
                inserting ``; and''; and
                    (C) by inserting at the end the following new 
                clause:
                    ``(iii) if the consumer has an online account with 
                the creditor under the consumer credit plan, be 
                disclosed in a conspicuous and prominent location on an 
                online interface of such creditor on which the consumer 
                selects the amount the consumer will pay, including a 
                webpage or mobile application.''; and
            (2) by adding at the end the following:
                    ``(H) For purposes of subparagraph (D)(iii), the 
                Bureau shall prescribe regulations defining 
                `conspicuous and prominent location', which shall be 
                based on consumer testing.''.
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