```

[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1380 Enrolled Bill (ENR)]

        H.R.1380

                       One Hundred Fourth Congress

                                 of the

                        United States of America

                          AT THE FIRST SESSION

         Begun and held at the City of Washington on Wednesday,
  the fourth day of January, one thousand nine hundred and ninety-five

                                 An Act

 
To provide a moratorium on certain class action lawsuits relating to 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 ``Truth in Lending Class Action Relief 
Act of 1995''.

SEC. 2. MORATORIUM.

    Section 130 of the Truth in Lending Act (15 U.S.C. 1640) is amended 
by adding at the end the following new subsection:
    ``(i) Class Action Moratorium.--
        ``(1) In general.--During the period beginning on the date of 
    the enactment of the Truth in Lending Class Action Relief Act of 
    1995 and ending on October 1, 1995, no court may enter any order 
    certifying any class in any action under this title--
            ``(A) which is brought in connection with any credit 
        transaction not under an open end credit plan which is secured 
        by a first lien on real property or a dwelling and constitutes 
        a refinancing or consolidation of an existing extension of 
        credit; and
            ``(B) which is based on the alleged failure of a creditor--
                ``(i) to include a charge actually incurred (in 
            connection with the transaction) in the finance charge 
            disclosed pursuant to section 128;
                ``(ii) to properly make any other disclosure required 
            under section 128 as a result of the failure described in 
            clause (i); or
                ``(iii) to provide proper notice of rescission rights 
            under section 125(a) due to the selection by the creditor 
            of the incorrect form from among the model forms prescribed 
            by the Board or from among forms based on such model forms.
        ``(2) Exceptions for certain alleged violations.--Paragraph (1) 
    shall not apply with respect to any action--
            ``(A) described in clause (i) or (ii) of paragraph (1)(B), 
        if the amount disclosed as the finance charge results in an 
        annual percentage rate that exceeds the tolerance provided in 
        section 107(c); or
            ``(B) described in paragraph (1)(B)(iii), if--
                ``(i) no notice relating to rescission rights under 
            section 125(a) was provided in any form; or
                ``(ii) proper notice was not provided for any reason 
            other than the reason described in such paragraph.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.
```