U.S. Code » Title 15 » CHAPTER 41— CONSUMER CREDIT PROTECTION › SUBCHAPTER I— CONSUMER CREDIT COST DISCLOSURE › Part C— Credit Advertising and Limits on Credit Card Fees

15 U.S.C. § 1664

Advertising of credit other than open end plans

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(a) Exclusion of open end credit plans

Except as provided in subsection (b), this section applies to any advertisement to aid, promote, or assist directly or indirectly any consumer credit sale, loan, or other extension of credit subject to the provisions of this subchapter, other than an open end credit plan.

(b) Advertisements of residential real estate

The provisions of this section do not apply to advertisements of residential real estate except to the extent that the Bureau may by regulation require.

(c) Rate of finance charge expressed as annual percentage rate

If any advertisement to which this section applies states the rate of a finance charge, the advertisement shall state the rate of that charge expressed as an annual percentage rate.

(d) Requisite disclosures in advertisementIf any advertisement to which this section applies states the amount of the downpayment, if any, the amount of any installment payment, the dollar amount of any finance charge, or the number of installments or the period of repayment, then the advertisement shall state all of the following items:(1) The downpayment, if any.(2) The terms of repayment.(3) The rate of the finance charge expressed as an annual percentage rate.(e) Credit transaction secured by principal dwelling of consumerEach advertisement to which this section applies that relates to a consumer credit transaction that is secured by the principal dwelling of a consumer in which the extension of credit may exceed the fair market value of the dwelling, and which advertisement is disseminated in paper form to the public or through the Internet, as opposed to by radio or television, shall clearly and conspicuously state that—(1) the interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes; and(2) the consumer should consult a tax adviser for further information regarding the deductibility of interest and charges.(Pub. L. 90–321, title I, § 144, May 29, 1968, 82 Stat. 158; Pub. L. 96–221, title VI, § 619(b), Mar. 31, 1980, 94 Stat. 183; Pub. L. 109–8, title XIII, § 1302(b)(2), Apr. 20, 2005, 119 Stat. 209; Pub. L. 111–203, title X, § 1100A(2), July 21, 2010, 124 Stat. 2107.)Editorial NotesAmendments

2010—Subsec. (b). Pub. L. 111–203 substituted “Bureau” for “Board”.

2005—Subsec. (e). Pub. L. 109–8 added subsec. (e).

1980—Subsec. (d). Pub. L. 97–221 substituted items setting forth downpayment, etc., set out in pars. (1) to (3), for items setting forth cash price or amount of loan, etc., set out in pars. (1) to (4).

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 2005 Amendment

Amendment by Pub. L. 109–8 effective 180 days after Apr. 20, 2005, and not applicable with respect to cases commenced under Title 11, Bankruptcy, before such effective date, except as otherwise provided, see section 1501 of Pub. L. 109–8, set out as a note under section 101 of Title 11.

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.

Notes of Decisions
Cited in 12 cases (5 in the last 5 years), 1986–2025 · leading case: Smeyres v. Gen. Motors Corp., 660 F. Supp. 31 (N.D. Ohio 1986).
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Smeyres v. Gen. Motors Corp., 660 F. Supp. 31 (N.D. Ohio 1986). · cites it 6× “This case presents the threshold issue of whether the plaintiff enjoys a private remedy for alleged credit advertising violations, pursuant to 15 U.S.C. § 1664 . 1 The plaintiff, John Smeyres, filed this class action against defendants, General Motors Corporation (GMC), General…”
John Smeyres v. Gen. Motors Corp. Gen. Motors Acceptance Corp., 820 F.2d 782 (6th Cir. 1987). · cites it 3× “Plaintiff appeals from a judgment of the United States District Court for the Northern District of Ohio dismissing his action brought under the Consumer Credit Protection Act, 15 U.S.C. § 1664 . Plaintiff alleges that he bought a 1985 General Motors car and that in doing so he…”
Wilson v. Parisi, 549 F. Supp. 2d 637 (M.D. Pa. 2008). “UTPCPL Claim based upon Violations of the Federal Truth in Lending Act and Regulation Z against Lisa Gibson and the PK Defendants The Wilsons assert violations of 15 U.S.C. § 1664 (d) and 12 C.F.R. § 226.”
Agg v. Flanagan, 855 F.2d 336 (6th Cir. 1988). “1987) (per curiam) (holding that there is no private right of action under 15 U.S.C. § 1664 , Subchapter I, Part C of the Consumer Credit Protection Act), and I do not believe that Nunn is controlling on this issue.”
Hearns v. Parisi, 548 F. Supp. 2d 132 (M.D. Pa. 2008). · cites it 2× “Plaintiffs Remaining Claims Plaintiff also submits claims that the PK and Appraiser Defendants violated the UTPCPL by violating 15 U.S.C. § 1664 (d) and Regulation Z, 12 C.”
Ohio Stands Up! v. U.S. Dep't of Health & Human Servs., 564 F. Supp. 3d 605 (N.D. Ohio 2021). · cites it 3× “Ohio 1986) (“An examination of 15 U.S.C. § 1664 fails to disclose any Congressional focus on any identifiable class of beneficiaries.”
Traffic Jam Events v. FTC, No. 21-60947 (5th Cir. July 10, 2025). · cites it 2× “Traffic Jam argues that it is not a creditor under these provisions and § 144 must also be limited to creditors because the TILA “was enacted to enhance economic stabilization and competition among financial institutions and other firms engaged in the extension of consumer…”
State v. Terry Buick, Inc., 137 Misc. 2d 290 (N.Y. Sup. Ct. 1987). · cites it 3× “This action for an injunction under 15 USC § 1664 (Truth in *291 Lending Act), General Business Law article 22-A, and CPLR 6301 enjoining Terry Buick, Inc.”
Fed. Trade Comm'n v. Platinum Plus Printing, LLC, Misc. No. 2021-0092 (D.D.C. Aug. 3, 2021). “; and (3) violated the Truth in Lending Act, 15 U.S.C. § 1664 , and Regulation Z, 12 C.”
Fed. Trade Comm'n v. Tate's Auto Ctr. of Winslow Incorporation, No. 3:18-cv-08176 (D. Ariz. Feb. 5, 2021). “See 15 U.S.C. §§ 1664 (d), 1667c; 12 C.F.R. §§ 213.”
Fed. Trade Comm'n v. Lead Express, Inc., No. 2:20-cv-00840 (D. Nev. May 19, 2020). “§ 1693e(a) of the Electronic Fund Transfer Act (EFTA) and 12 5 C.F.R. § 1005.10 (b) of the EFTA’s implementing Regulation E for failing to obtain 6 consumers’ authorization for recurring bank debits that defendants cause to be made or 7 failing to provide consumers with copies…”
Fed. Trade Comm'n v. Lead Express, Inc., No. 2:20-cv-00840 (D. Nev. Sept. 13, 2021). “Sum of money at stake 2 Under the fourth Eitel factor, courts consider the amount of money at stake in relation to 3 the seriousness of the defendant’s conduct.”
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