U.S. Code » Title 15 » Chapter CHAPTER 41— CONSUMER CREDIT PROTECTION › Subchapter SUBCHAPTER I— CONSUMER CREDIT COST DISCLOSURE › Part Part B— Credit Transactions

15 U.S.C. § 1632

Form of disclosure; additional information

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(a) Information clearly and conspicuously disclosed; “annual percentage rate” and “finance charge”; order of disclosures and use of different terminology

Information required by this subchapter shall be disclosed clearly and conspicuously, in accordance with regulations of the Bureau. The terms “annual percentage rate” and “finance charge” shall be disclosed more conspicuously than other terms, data, or information provided in connection with a transaction, except information relating to the identify of the creditor. Except as provided in subsection (c), regulations of the Bureau need not require that disclosures pursuant to this subchapter be made in the order set forth in this subchapter and, except as otherwise provided, may permit the use of terminology different from that employed in this subchapter if it conveys substantially the same meaning.

(b) Optional information by creditor or lessor

Any creditor or lessor may supply additional information or explanation with any disclosures required under parts D and E and, except as provided in sections 1637a(b)(3) and 1638(b)(1) of this title, under this part.

(c) Tabular format required for certain disclosures under section 1637(c)(1) In generalThe information described in paragraphs (1)(A), (3)(B)(i)(I), (4)(A), and (4)(C)(i)(I) of section 1637(c) of this title shall be—(A) disclosed in the form and manner which the Bureau shall prescribe by regulations; and(B) placed in a conspicuous and prominent location on or with any written application, solicitation, or other document or paper with respect to which such disclosure is required.(2) Tabular format(A) Form of table to be prescribedIn the regulations prescribed under paragraph (1)(A) of this subsection, the Bureau shall require that the disclosure of such information shall, to the extent the Bureau determines to be practicable and appropriate, be in the form of a table which—(i) contains clear and concise headings for each item of such information; and(ii) provides a clear and concise form for stating each item of information required to be disclosed under each such heading.(B) Bureau discretion in prescribing order and wording of tableIn prescribing the form of the table under subparagraph (A), the Bureau may—(i) list the items required to be included in the table in a different order than the order in which such items are set forth in paragraph (1)(A) or (4)(A) of section 1637(c) of this title; and(ii) subject to subparagraph (C), employ terminology which is different than the terminology which is employed in section 1637(c) of this title if such terminology conveys substantially the same meaning.(C) Grace period

Either the heading or the statement under the heading which relates to the time period referred to in section 1637(c)(1)(A)(iii) of this title shall contain the term “grace period”.

(d) Additional electronic disclosures(1) Posting agreements

Each creditor shall establish and maintain an Internet site on which the creditor shall post the written agreement between the creditor and the consumer for each credit card account under an open-end consumer credit plan.

(2) Creditor to provide contracts to the Bureau

Each creditor shall provide to the Bureau, in electronic format, the consumer credit card agreements that it publishes on its Internet site.

(3) Record repository

The Bureau shall establish and maintain on its publicly available Internet site a central repository of the consumer credit card agreements received from creditors pursuant to this subsection, and such agreements shall be easily accessible and retrievable by the public.

(4) Exception

This subsection shall not apply to individually negotiated changes to contractual terms, such as individually modified workouts or renegotiations of amounts owed by a consumer under an open end consumer credit plan.

(5) Regulations

The Bureau, in consultation with the other Federal banking agencies (as that term is defined in section 1681a of this title) and the Bureau,11 So in original. may promulgate regulations to implement this subsection, including specifying the format for posting the agreements on the Internet sites of creditors and establishing exceptions to paragraphs (1) and (2), in any case in which the administrative burden outweighs the benefit of increased transparency, such as where a credit card plan has a de minimis number of consumer account holders.

(Pub. L. 90–321, title I, § 122, May 29, 1968, 82 Stat. 152; Pub. L. 93–495, title III, § 307(e), (f), Oct. 28, 1974, 88 Stat. 1516, 1517; Pub. L. 96–221, title VI, § 611, Mar. 31, 1980, 94 Stat. 175; Pub. L. 100–583, § 2(b), Nov. 3, 1988, 102 Stat. 2966; Pub. L. 100–709, § 2(d), Nov. 23, 1988, 102 Stat. 4731; Pub. L. 111–24, title II, § 204, May 22, 2009, 123 Stat. 1746; Pub. L. 111–203, title X, § 1100A(2), (3), July 21, 2010, 124 Stat. 2107.)Editorial NotesAmendments

2010—Subsecs. (a), (c). Pub. L. 111–203, § 1100A(2), substituted “Bureau” for “Board” wherever appearing.

Subsec. (d)(2), (3). Pub. L. 111–203, § 1100A(2), substituted “Bureau” for “Board” wherever appearing.

Subsec. (d)(5). Pub. L. 111–203 substituted “The Bureau, in” for “The Board, in” and “and the Bureau, may” for “and the Federal Trade Commission, may”.

2009—Subsec. (d). Pub. L. 111–24 added subsec. (d).

1988—Subsec. (a). Pub. L. 100–583, § 2(b)(1), substituted “Except as provided in subsection (c), regulations” for “Regulations”.

Subsec. (b). Pub. L. 100–709 substituted “sections 1637a(b)(3) and 1638(b)(1)” for “section 1638(b)(1)”.

Subsec. (c). Pub. L. 100–583, § 2(b)(2), added subsec. (c).

1980—Subsec. (a). Pub. L. 96–221 substituted provisions setting forth form of disclosure to meet requirements of this subchapter, for provisions setting forth form of disclosure authorized under this part or part D of this subchapter.

Subsec. (b). Pub. L. 96–221 substituted provisions setting forth disclosure requirements for additional information by creditors or lessors, for provisions setting forth disclosure requirements for additional information by creditors.

1974—Subsecs. (a), (b). Pub. L. 93–495 inserted references to part D of this subchapter.

Statutory Notes and Related SubsidiariesEffective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

Effective Date of 2009 Amendment

Amendment by Pub. L. 111–24 effective 9 months after May 22, 2009, except as otherwise specifically provided, see section 3 of Pub. L. 111–24, set out as a note under section 1602 of this title.

Effective Date of 1988 Amendment

For effective date of amendments by Pub. L. 100–709, see Regulations; Effective Date note below.

Effective Date of 1980 Amendment

Amendment by Pub. L. 96–221 effective on expiration of two years and six months after Mar. 31, 1980, with all regulations, forms, and clauses required to be prescribed to be promulgated at least one year prior to such effective date, and allowing any creditor to comply with any amendments, in accordance with the regulations, forms, and clauses prescribed by the Board prior to such effective date, see section 625 of Pub. L. 96–221, set out as a note under section 1602 of this title.

Effective Date of 1974 Amendment

For effective date of amendment by Pub. L. 93–495, see section 308 of Pub. L. 93–495, set out as an Effective Date note under section 1666 of this title.

Regulations; Effective Date

For provisions relating to promulgation of regulations to implement amendment by Pub. L. 100–709, and effective date of such amendment in connection with those regulations, see section 7 of Pub. L. 100–709, set out as a note under section 1637a of this title.

For provisions relating to promulgation of regulations to implement amendment by Pub. L. 100–583, and effective date of such amendment in connection with those regulations, see section 7 of Pub. L. 100–583, set out as a note under section 1637 of this title.

Notes of Decisions
Cited in 124 cases (25 in the last 5 years), 1973–2025 · leading case: Gary Davis v. Hsbc Bank Nevada, N.A., 691 F.3d 1152 (9th Cir. 2012).
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Gary Davis v. Hsbc Bank Nevada, N.A., 691 F.3d 1152 (9th Cir. 2012). · cites it 3× “15 U.S.C. § 1632 (a), (c)(2). TILA delegates to the Board of Governors of the Federal Reserve Bank (“Board”) the duty to implement these disclosure requirements and to prescribe regulations governing the “form and manner” of the disclosures.”
Rubio v. Capital One Bank, 613 F.3d 1195 (9th Cir. 2010). · cites it 4× “This disclosure must be clear and conspicuous, 15 U.S.C. § 1632 (a); 12 C.F.R. § 226.5 (a)(1), which, for purposes of credit card solicitations, is defined in the official staff commentary to Regulation Z as "in a reasonably understandable form and readily noticeable to the…”
In Re Ferrell, 539 F.3d 1186 (9th Cir. 2008). · cites it 5× “This appeal raises an issue of first impression for this circuit: whether statutory damages are available for violations of 15 U.S.C. §§ 1632 (a) and 1638(b)(1). We hold that they are not.”
People v. Applied Card Sys., Inc., 894 N.E.2d 1 (NY 2008). · cites it 3× “In their motion to reargue the February 11 order, respondents asserted that the credit card application and solicitation disclosure requirements set forth in TILA (see 15 USC § 1632 [c]; § 1637 [c], [e], [f]) and its accompanying regulation, Regulation Z (12 CFR part 226),…”
Karun N. Jackson v. Specialized Loan Servicing LLC, 898 F.3d 1348 (11th Cir. 2018). “By failing to make required disclosures clearly and conspicuously in writing in violation of 15 U.S.C. § 1632 (a) and Regulation Z § 226.”
Pac. Gas & Elec. Co. v. Pub. Utils. Comm'n, 475 U.S. 1 (1986). · cites it 2× “, 15 U. S. C. §§ 1632 (a), 1663; 12 CFR §§ 226.”
Vincent v. The Money Store, 736 F.3d 88 (2d Cir. 2013). · cites it 2× “See 15 U.S.C. § 1632 ; see also 15 U.S.C. § 1604 ; 12 C.”
Jones v. Koons Auto., Inc., 752 F. Supp. 2d 670 (D. Maryland 2010). · cites it 2× “4(e)(2) and it violated the Truth in Lending by failing to provide the required disclosures prior to consummation in violation of § 1638(b) and by failing to make required disclosures clearly and conspicuously in writing in violation of 15 U.S.C. § 1632 (a). (ECF No. 13-2, Am.…”
Chavers v. Fleet Bank (RI), N.A., 844 A.2d 666 (R.I. 2004). · cites it 2× “" 15 U.S.C. § 1632 (a) and (c). The card issuer may be subject to civil liability only to certain card holders for violations of 15 U.”
Johnson v. Tele-Cash, Inc., 82 F. Supp. 2d 264 (D. Del. 1999). · cites it 5× “Under 15 U.S.C. § 1632 , The terms “annual percentage rate” and “finance charge” shall be disclosed more conspicuously than other terms, data, or information provided in connection with a transaction, except information relating to the identity of the creditor.”
McDonald v. Checks-N-Advance, Inc. (In Re Ferrell), 358 B.R. 777 (9th Cir. BAP 2006). · cites it 6× “failing to properly and conspicuously disclose the “finance charge” in violation of 15 U.S.C. § 1632 (a) and Regulation Z, 12 C.”
Barrer v. Chase Bank USA, N.A., 566 F.3d 883 (9th Cir. 2009). · cites it 2× “5 (a)(1); 15 U.S.C. § 1632 (a). Neither the Act nor Regulation Z define clarity and conspicuousness in this context.”
Show all 124 citing cases →
— 15 U.S.C. § 1632(a) — 3 cases
Barrer v. Chase Bank USA, N.A., 566 F.3d 883 (9th Cir. 2009). “5 (a)(1); 15 U.S.C. § 1632 (a). Neither the Act nor Regulation Z define clarity and conspicuousness in this context.”
Underwood v. Am. Home Mortg. Corp. (In Re Underwood), 66 B.R. 656 (Bankr. W.D. Va. 1986).
McDonald v. Checks-N-Advance, Inc. (In Re Ferrell), 358 B.R. 777 (9th Cir. BAP 2006). “failing to properly and conspicuously disclose the “finance charge” in violation of 15 U.S.C. § 1632 (a) and Regulation Z, 12 C.”
— 15 U.S.C. § 1632(b) — 1 case
Doggett v. Ritter Fin. Co. of Louisa, 384 F. Supp. 150 (W.D. Va. 1974).
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.