|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **H****ow         to Advertise Consumer Credit & Lease Terms**
        [Related Publication: Advertising Consumer Leases]

**How to Use This     Manual**

**General     Information**
- **The Truth in         Lending Act and Advertising          Who Must Comply          Oral Rate Disclosures          Liability for Violations          General Requirements**
- Clear and Conspicuous Disclosures          Catalog and Other Multi-Page Advertisements          Actually Available Credit

**Definitions**

**Closed-End     Credit Disclosures**
- **Triggering Terms           Required Disclosures           Advertising Finance Rate**

Basic Rule          Variable Rates

- **Special         Compliance Issues**

Buydowns          Discounted Variable Rates          Payment or Effective Rates          Payment Schedules for Graduated Payment Loans and Loans with Mortgage           Insurance          Payment Schedules for Variable-Rate Loans          Payment Schedules for Discounted Variable-Rate Loans

- **Other         Considerations**

Typical Terms          Legal Obligation

**Open-End Credit     Disclosures**
- **Triggering Terms          Required Disclosures          Advertising Finance Rates           Special Compliance Issues**

Variable Rates          Discounted Variable Rates 

- **Other         Considerations          Home Equity Plans           Required Disclosures**

Discounted Rates           Balloon Payments          Misleading Terms          Other Considerations

**Consumer Lease Disclosures: See     Advertising Consumer Leases**

**For Further     Information**

[back     to top]
**HOW TO USE THIS MANUAL**
This manual was prepared to help you, the advertiser, comply with requirements in    federal law for advertising consumer credit and consumer leases. These requirements apply    whenever you use specific terms in an advertisement promoting consumer credit or consumer    leases. Although this manual is illustrated with newspaper advertisements, the law applies    to all kinds of media advertisements for consumer credit and consumer leases.

You may find it helpful to follow these steps in using this manual:- Read **General Information,**which will tell you whether        your advertisement is covered by the Truth in Lending Act.  
- Determine whether you are advertising "Closed-End Credit," "Open-End        Credit," or a "Consumer Lease." The definitions will help you decide. 
- Refer to the appropriate section for help in preparing or reviewing the advertisement.        Note that the requirements differ substantially for each type of transaction.       

The staff of the Federal Trade Commission's Division of Financial Practices based this    manual on the Truth in Lending Act (which includes the Consumer Leasing Act); regulations    adopted by the Federal Reserve Board known as Regulation Z (for consumer credit) and    Regulation M (for consumer leases); and the Official Staff Commentaries accompanying those    regulations that are revised annually by the Federal Reserve Board and made effective each    October. **The manual represents the Federal Trade Commission (FTC)    staff's view of what the law requires, and it is not binding on the Commission.**

This manual is intended to be a guide to the advertising requirements; it does not    cover all contingencies. For further information, consult the Act, the regulations, and    the staff commentaries directly. You also may want to discuss specific questions with your    lawyer or with the federal agency (listed below) that has enforcement jurisdiction over    your advertising.

The FTC enforces the Truth in Lending Act as to retailers, finance companies,    creditors, lessors, and all other advertisers of consumer credit and consumer leases who    are not regulated by other federal agencies. The other federal agencies with enforcement    jurisdiction for the Act are:

**Comptroller of the Currency**—national      banks;**Federal Reserve Board**—state member      banks of the Federal Reserve System;**Federal Deposit Insurance Corporation**—FDIC-insured      banks that are not members of the Federal Reserve System;**Office of Thrift Supervision**—insured      savings institutions and members of the Office of Thrift Supervision System not insured by      FDIC;**Department of Transportation**—air      carriers;**National Credit Union Administration**—Federal      credit unions;**Farm Credit Administration**—Federal land      banks, Federal land bank associations, Federal intermediate credit banks, and production      credit associations;**Department of Agriculture**—packers and      stockyards.

Contact these other agencies directly for further information and assistance if you are    subject to their jurisdiction (see **"For Further Information"**)**.**

[back     to top]
**GENERAL INFORMATION****The Truth in Lending Act and Advertising**
The main purpose of the Truth in Lending Act is to assure the meaningful *disclosure*of    consumer credit and lease terms, including those in advertisements, so that consumers can    easily compare terms and shop wisely for credit.

Before passage of the Act, an advertiser might have used only the most attractive    credit or lease terms, thus distorting the true cost of the credit or lease. For example,    an advertisement might have read, "'63 Chevy, only $30 per month." Whether this    is a bargain depends upon information missing from the advertisement, such as the    downpayment and the number of payments. The ad also omits the annual percentage rate and    does not state whether the transaction is a credit sale or a lease. The Act requires that    the advertisement tell the whole story.

For example, if an advertisement contains any of a number of terms specified in the    Act, then that advertisement must also include certain prescribed disclosures. In other    words, the specified terms "trigger" the disclosures. If, on the other hand, the    ad does not use "triggering" terms, it need not make the disclosures. The type    of transaction you advertise—closed-end credit, open-end credit, or a consumer    lease—determines whether a term is a "triggering term" and, if so, what    disclosures are required.

If you, as an advertiser, are unclear about what type of plan is being advertised, or    about any of the specific terms of the plan — including the annual percentage    rate—you may want to contact the creditor directly to obtain this information. This    may help ensure that the credit terms you advertise are accurate.
**Who Must Comply**
If you place an advertisement that promotes "consumer credit" or a    "consumer lease" as defined in the Act, you must comply with the law. Thus, *advertisers,*not just creditors and lessors, must comply, including associations, manufacturers,    real estate brokers, builders, and government agencies.

There is no liability under the Act for the media in which advertisements appear. The    media can, however, protect their customers by screening advertisements to make sure that    they comply with the law.
**Oral Rate Disclosures**
Certain rules apply only to creditors. If a consumer *orally*asks you, a    creditor, about the cost of credit, you *must*state the annual percentage rate. For    closed-end credit, you also *may*give a periodic or simple interest rate that is    applied to an unpaid balance. For open-end credit, once you state the APR, you also *may*give the periodic rate.

If you cannot determine the annual percentage rate for the specific closed-end credit    that the consumer asks you about, you may disclose instead the annual percentage rate in a    sample transaction. You also may give other information that applies to the consumer's    specific transaction, such as the contract interest rates and points.
**Liability for Violations**
If you fail to comply with the advertising requirements of the Act, you may be subject    to law enforcement actions. Advertisers of consumer credit and consumer leases under the    FTC's jurisdiction are subject to enforcement actions that could result in remedies such    as:- Orders issued by the FTC to cease and desist from violating the Act. Subsequent        violations of the FTC order may result in a civil penalty of up to $11,000 for each day        the violation continues; *or,*
- Injunctions issued by federal district courts against future violations. Violations of        court-ordered injunctions may result in civil or criminal contempt proceedings.

If you are under the jurisdiction of a federal regulatory agency other than the FTC,    you may wish to consult with that agency to determine your liability for placing a credit    or lease advertisement that fails to comply with the law.

In addition, anyone actually harmed by a non-complying consumer *lease*advertisement    may sue you for:- actual damages;
- 25% of the total amount of monthly payments under the lease (but not less than $100 nor        more than $1,000); and
- court costs and a reasonable attorney's fee.
**General Requirements**
Keep the following principles in mind when you design or review an ad promoting    consumer credit or consumer leases.
**Clear and Conspicuous Disclosures**
All advertising disclosures required by the Truth in Lending Act must be made      "clearly and conspicuously." This means that disclosures must be legible and      reasonably understandable.
**Catalog and Other Multi-Page Advertisements**
Under certain circumstances, a catalog or other multi-page advertisement may constitute      a single advertisement. This means that only one set of advertising disclosures may be      necessary. If so, all required disclosures for the credit advertised must be provided      clearly and completely in a table or chart in the catalog. Any credit or lease terms      appearing elsewhere in the advertisement must include a clear and conspicuous reference to      the page containing the table of disclosures.

Only credit or lease advertisements that consist of a *series of sequentially      numbered pages,*such as a newspaper supplement, qualify as "multi-page      advertisements." Separate pieces of paper, even those mailed in the same envelope,      are separate ads. Thus, if a mailing consists of several pieces of paper and each promotes      a different item of merchandise sold on credit or available by lease, each piece of paper      containing a "triggering term" must include a full set of disclosures.
**Actually Available Credit**
You may advertise only credit or lease terms that are actually available to the    consumer. "Bait and switch" credit or lease promotions are not allowed. For    example, no advertisement may state that a specific installment payment or a specific    downpayment can be arranged unless the creditor is prepared to make those arrangements.    However, you may advertise terms that will be offered only for a limited time or terms    that will become available at a known future date. You need not, of course, promote every    credit or lease plan that you offer.
**Definitions**
The following definitions may be helpful as you read this manual.

***Advertisement**:*An    "advertisement" subject to the Truth in Lending Act is *any commercial message*that promotes consumer credit or a consumer lease. "Advertisements" may    appear:

(a) in newspapers, magazines, leaflets, flyers, catalogs, direct mail literature, or      other printed material;

(b) on radio, television, or a public address system;

(c) on an inside or outside sign or display, or a window display;

(d) in point-of-sale literature, price tags, signs, and billboards; or

(e) online, such as on the Internet.

A "commercial message" is any message that promotes a sale or lease. Thus,    materials that are educational and do not solicit business or that are required by law are    not "advertisements." For example, a brochure issued by a bank explaining FHA    mortgages is not a commercial message, nor is a rate sheet prepared and used solely for    internal business purposes. A state-required sign posted by a finance company explaining    credit terms is not an "advertisement," nor is a merchandise sales ticket that    conveys no credit information. On the other hand, a brochure or sign that combines a sales    message with educational or state-required information is an "advertisement."

***Annual Percentage Rate**:* The    "annual percentage rate" is the charge for credit, stated as a percentage, and    expressed as an annualized rate.

***Closed-End Credit**:*    "Closed-end credit" includes all consumer credit that does not fit the    definition of open-end credit (see below). Closed-end credit consists of both sales credit    and loans. In a typical closed-end credit transaction, credit is advanced for a specific    time period, and the "amount financed," "finance charge,' and    "schedule of payments" are agreed upon by the lender and the customer.

***Consumer Credit**:* "Consumer    credit" may be either closed-end or open-end credit. It is credit that is extended    primarily for personal, family, or household purposes. It excludes business and    agricultural loans, and loans exceeding $25,000 that are not secured by real property or a    dwelling. It also must be extended by a "creditor" (although it can be    advertised by someone else, such as a builder, real estate broker, or advertising agency).

***Consumer Lease**:* A "consumer    lease" is a lease of personal property to a private individual. The lease must be for    personal, family, or household purposes and must be for a term of more than four months.    So, renting a car for a weekend is not a "consumer lease." The term excludes    leases where the customer will have to pay a total of more than $25,000. The term includes    leases under which the customer has the option to buy at the end of the lease. However, a    "lease" in which the payments equal or exceed the value of the property and    which allows the consumer to buy the property at the end of the lease term for a nominal    payment or no further payment is actually a credit *sale*("closed-end    credit"), and not a consumer lease.

***Credit Sale**:* A "credit    sale" is a transaction in which the seller is also the creditor, at least initially.    Often, the seller-creditor will later assign the installment sales contract to another    entity, such as a finance company or a bank.

***Creditor**:* A "creditor"    is a person or organization (a) that regularly extends consumer credit for which a finance    charge is required or that is repayable in more than four installments even without a    finance charge, and (b) to whom the obligation is initially payable—for example, the    finance company, bank, automobile dealer or other lender identified on the face of the    credit agreement. A person or organization is considered to extend credit    "regularly," if it has extended credit more than 25 times during the preceding    year (or more than 5 times for transactions secured by dwellings).

***Downpayment**:* A    "downpayment" is an amount paid to reduce the cash price of goods or services    purchased in a credit sale transaction. The value of a trade-in is included in the    downpayment. It can include a "pick-up" or deferred downpayment that is not    subject to a finance charge and is due no later than the second regularly scheduled    payment. The downpayment does not include any prepaid finance charges such as points.

***Finance Charge**:* The    "finance charge" is the dollar amount charged for credit. It includes interest    and other costs, such as service charges, transaction charges, buyer's points, loan fees,    and mortgage insurance. It also includes the premiums for credit life, accident, and    health insurance, if required, and for property insurance, unless the buyer may select the    insurer.

***Open-End Credit**:* In    "open-end credit," the creditor:

(a) reasonably expects the customer to make repeated transactions;

(b) may impose a finance charge from time to time on the unpaid balance; and

(c) generally makes the amount of credit available again to the consumer as the      outstanding balance is paid.

Examples of "open-end credit" are bank and retail gasoline credit cards,    department stores' revolving charge accounts, and cash-advance checking accounts.

***Terms of repayment**:*The phrase    "terms of repayment" generally refers to the payment schedule, including the    number, timing, and amount of the payments (including any final "balloon"    payment) scheduled to repay the debt.

[back     to top]
CLOSED-END CREDIT DISCLOSURES
The main requirements governing advertising of closed-end credit concern    "triggering terms" and "finance rates." These requirements may apply    to a single ad. This section of the manual explains these basic requirements and offers    additional guidance for special compliance issues.
Triggering Terms
If you advertise closed-end credit with a "triggering term," you also must    disclose other major terms, including the annual percentage rate. This rule is intended to    ensure that all important terms of a credit plan, not just the most attractive ones,    appear in an ad.

The triggering terms for closed-end credit are:

(1) *The amount of the downpayment* (expressed as either a percentage or dollar      amount), in a "credit sale" transaction.

Examples:

"10% down"      "$1000 down"      "90% financing"      "trade-in with $1000 appraised value required"

(2) *The amount of any payment* (expressed as either a percentage or dollar      amount).

Examples:

"Monthly payments less than $250 on all our loan plans"      "Pay $23.44 per $1000 amount borrowed"      "$210.95 per month"

(3)*The number of payments*or *the period of repayment*.

Examples:

"Up to four years to pay"      "48 months to pay"      "30-year mortgages available"

(4) *The amount of any finance charge*.

Examples:

"Financing costs less than $300 per year"      "Less than $1200 interest"      "$2.00 monthly carrying charge"

Some statements about credit terms are too general to trigger additional disclosures.    Examples of terms that do not trigger the required disclosures are:

"No downpayment"      "Easy monthly payments"      "Loans available at 5% below our standard APR"      "Low downpayment accepted"      "Pay weekly"      "Terms to fit your budget"      "Financing available."

General statements, such as "take years to pay" or "no closing    costs," do not trigger further disclosures because they do not state or suggest the    period of repayment or downpayment cost. In contrast, the statement "drive it home    for $199," which implies that the required cash downpayment is no more than $199,    does trigger full disclosure. Similarly, a statement such as "up to 48 months to    pay" lists the period of repayment and triggers disclosure. In general, the more    specific the statement, the more likely it is to trigger additional disclosures.
Required Disclosures
If your ad for closed-end credit uses a triggering term, it also must include the    following information: - The amount or percentage of the down-payment;
- The terms of repayment; and
- The "annual percentage rate," using that term or the abbreviation        "APR." If the annual percentage raw may be increased after consummation1 of the credit transaction, that fact also must be        stated.

The amount or percentage of the        "downpayment" need not be shown directly, as long as it can be determined from        the ad. For example, "10% cash required from buyer" or "credit terms        require minimum $1000 trade-in" would satisfy the disclosure requirement.

The        "terms of repayment" may be expressed in a variety of ways, as long as they        convey the required information. For example, an automobile finance company might use unit        cost to disclose repayment terms: "48 monthly payments of $23.44 for each $1000        borrowed." Similarly, the length of the loan can be expressed as the number of        payments or the time period of the loan.
         
**Sample Disclosure**        The following disclosure of car financing offered by the dealer would        comply with the law *if printed clearly and conspicuously:*

Special close-out sale this weekend. Any in-stock Chevy Citation, only 5% down, 5.9%        APR (on approved credit). 

Example: 48 monthly payments of $224.95.2**Advertising Finance Rates****Basic Rule**
The second basic requirement for advertising closed-end credit is this: if your ad    shows the finance charge as a rate, that rate must be stated as an "annual percentage    rate," using that term or the abbreviation "APR." Your ad must state the    annual percentage rate, even if it is the same as the simple interest rate. So, if you are    a car dealer who wants to advertise low-rate financing made available by the manufacturer,    your advertisement would read, for example, "5.9% annual percentage rate" or    "5.9%APR." If you want to show *only*a rate, and the APR is stated in the    ad, no other credit information need be included: the "triggering term"    requirement does not apply because the rate and APR are not triggering terms. Thus, an    advertisement could simply state, "Assume 10% annual percentage rate" or    "10% annual percentage rate mortgages available."

You must state the annual percentage rate accurately. For example, some transactions,    especially real estate loans, include other components in the finance charge besides    interest, such as "points" and mortgage insurance premiums paid by the buyer.3 As a result, the annual percentage rate may be higher    than the simple interest rate, because the APR reflects the total cost of credit,    including interest and other credit charges.

As long as you include the annual percentage rate in the ad, you also may state a    simple annual rate or a periodic rate or both, applicable to an unpaid balance. However,    the simple annual or periodic rate may not be more conspicuous in the advertisement than    the annual percentage rate. For example, an advertisement for mortgage credit may include    the contract rate of interest together with the annual percentage rate, as long as the    contract rate is not more prominent than the APR.

No credit ad may state an "add-on" rate (for example, "6% add-on").    This rate is misleading because it is significantly lower than the annual percentage rate,    and its use in an ad violates the law.4
**Variable Rates**
A credit plan with an annual percentage rate that may fluctuate in the future (for    example, based on market conditions) is a variable-rate transaction. For Truth in Lending    purposes, a variable-rate plan involves one or more future interest rates that cannot be    determined at consummation. This means that fixed-rate "buy-downs,"    "step-rate," and graduated payment mortgages are not, by themselves,    variable-rate mortgages,5 because the future    interest rates applicable during the life of the loan are known at the time of settlement.
Ads for variable-rate credit must state that the rate may        increase or that it is subject to change, but need not explain how changes will be made.        The following statement would satisfy this requirement:
8.5% annual        percentage rate subject to increase or decrease.

By contrast, an ad that promotes "9% APR graduated payment adjustable        mortgages" (graduated payment mortgages plus an adjustable rate feature) would not        comply with the law, because it does not state clearly that the rate may change.
(Click            on ad for larger image)
**WRONG**
The annual percentage rate in variable-rate financing ads must be    accurate. To help calculate the APR, keep two principles in mind. First, remember there is    only one *APR*per loan, regardless of how many interest rates may apply during the    term of the loan. Second, assume that any "index" rates, such as the prime rate    or the 6-month Treasury bill, used to determine future interest rate changes *will**remain constant during the life of the loan*.

For example, suppose the interest rate on a variable rate loan will be adjusted    annually by adding 2� percentage points to the 1-year Treasury-note rate, which is    currently 8 percent. Also suppose there are no other special features in this plan, such    as low introductory rates. For purposes of calculating the APR to be advertised for this    plan, you should assume that the Treasury-note rate will remain at 8 percent during the    life of the loan. If there were no other credit charges in this plan besides interest, the    variable rate could be advertised as follows: "10.5% APR subject to increase or    decrease."6
Special Compliance Issues**Buydowns**
Special rules apply when you advertise a loan in which the seller or a third party    "buys down" the interest rate during the early years of the loan. Suppose you    want to advertise a plan in which the seller or a third party pays an amount to the    creditor to reduce the effective interest rate on a 30-year real estate loan. Also suppose    the rate would be reduced from 10�% to 8�% the first year.

Your ads may show the reduced simple interest rate or rates applicable during the    buydown period. But if you advertise a lower interest rate, you also must show:    - how long the rate will be in effect,       
- the simple interest rate for the remainder of the loan, *and* 
- the annual percentage ram.  

To comply with this requirement, you must determine the accurate annual percentage    rate. First, ascertain whether the lower rates are stated as part of the credit contract    between the consumer and the creditor. If so, you should take the buydown into account in    calculating the annual percentage rate for the advertisement.

If the lower rates are not part of the credit contract, the advertised annual    percentage rate should not reflect the buydown. For example, suppose the seller agrees    with the consumer to place funds in an escrow account. This escrow account will be drawn    upon by the creditor to reduce the consumer's monthly payments during the term of the    loan, but the consumer's credit obligation is not changed to reflect the lower effective    rate and payments. In this situation, you should not consider the buydown in calculating    the APR.
Assuming the reduced rates are part of the credit contract        between the consumer and lender, your ad might read as follows:
This buydown reduces your interest rate from 10�% to 8�% for the first year of your          loan. APR 10�%.

(Click            on ad for larger image)
**WRONG**
If the interest rates in the buydown are not part of the credit    agreement between the consumer and lender (because, for example, they are included in a    separate contract between the consumer and the builder), you still may show the reduced    interest rates in the ad. But, if you do so, you must include all the rates, the limited    terms to which they apply, and the annual percentage rate for the loan. The annual    percentage rate that you disclose will not be based on the reduced interest rates, and    therefore will be higher than those rates, as in the following example:

With this buydown, your interest rate for the first year of your loan is    only 8�%.    Rate for remainder of term is 10�%. 10�% APR.

If you show this information, you also may show the effect of a buydown on the monthly    payments *without* triggering other disclosures. For example, an ad that states the    above information also may say "with this buydown, your monthly payment for the first    year of the mortgage will be only $615," or "save more than $100 per month the    first year!" The use of these terms does *not* trigger disclosure of other    information, other than the APR. But, if the ad shows the full term of the loan (such as    "30-year financing"), other required disclosures—namely, the downpayment,    the terms of repayment, and the APR—must be shown, because the time period is a    triggering term.
Discounted Variable Rates
Adjustable rate mortgages (ARMs) often have a first-year "discount" or    "teaser" feature in which the initial rate is substantially reduced. In these    loans, the first year's rate is not computed in the same way as the rate for later years.    Often, the "spread" or "margin" that is normally added to an    "index" (such as the one-year Treasury-note rate) to determine changes in the    interest rate in the future is not included in the first year of a discounted ARM offered    by a creditor.

Special rules, similar to those for buydowns, apply to advertising a discounted    variable rate. An ad for this type of plan can show the simple interest rate during the    discount period, as long as it also shows the annual percentage rate. However, in contrast    to buydowns, the ad need not show the simple interest rate applicable after the discount    period. For example, a plan with a low first year's interest rate (8%), but with a 10.25%    rate in subsequent years, and additional credit costs, could be advertised as follows:

8% first-year financing. APR 10.41%. APR subject to increase after    closing.

As in buydowns, the annual percentage rate in discounted plans is a composite figure    that must take into account the interest rates that are known at closing. In the above    example, the disclosed APR must reflect the 8% rate for the first year, as well as, for    example, the 10.25% rate applicable for the remainder of the term, plus any additional    credit costs (such as buyer's points).7

An ad for a discounted variable-rate loan, like an ad for a buydown, may show the    effect of the discount on the payment schedule during the discount period *without*    triggering other disclosures. An example of a disclosure that complies with Regulation Z    is:

Interest rate only 8% first year. APR 10.50% subject to increase.    With this discount, your monthly payments for the first year will be only $587.
Payment or Effective Rates
In some transactions, particularly some graduated payment loans, the consumer's    payments for the first few years of the loan may be based on an interest rate lower than    the rate for which the consumer is liable. (This situation is referred to as    "negative amortization.") As with buydowns, special rules apply when you    advertise the "effective" or "payment" rates for these transactions.    Specifically, you may advertise these effective rates if you show the following    information: - the "effective" or "payment" rate,       
- the term of the reduced payments,  
- the "note rate" at which interest is actually accruing, *and* 
- the annual percentage rate.  
The advertised annual percentage rate must take into        account the interest for which the consumer is liable, even though it is not paid by the        consumer during the period of reduced payments.
(Click            on ad for larger image)
**RIGHT**
This type of financing could be advertised as:

An effective first-year rate of only 7� percent.    Interest being charged at 10� percent. 10�% APR.

In contrast to an ad for a buydown or a discounted variable rate, an ad for an    "effective" or "payment" rate may *not* show the monthly    payments without triggering the other disclosures discussed [later on]. You can, however,    show the range of payments without showing all the intermediate payment amounts. (This    type of payment schedule disclosure is explained below in "**Payment    Schedules for Graduated Payment Loans and Loans with Mortgage Insurance.**")    In addition to the information about the interest rate and APR (shown above), a complying    ad for a "payment rate" plan also could state:

Payments begin at $557.92 for the first year, ranging to    $800.96 in years six through remainder of loan term.
**Payment Schedules for Graduated Payment Loans and Loans with    Mortgage Insurance**
If you advertise a mortgage in which the payments vary either because (1) payments    include mortgage insurance premiums payable monthly or annually, or (2) the loan has a    "graduated payment" feature,8 the ad    need not show all the different payments required during the life of the loan. These    advertisements must state: - the number and timing of payments,  
- the largest and smallest payments, and       
- the fact that the other payments will vary between those amounts.       

The following example, based upon a condominium with a $65,000 sale price, illustrates    the terms of an advertisement for a loan with mortgage insurance. This example would    comply with the disclosure requirements, assuming the information is printed clearly and    conspicuously:

Downpayment $15,000; 9.5% APR            360 monthly payments            Payments 1-120 vary from $303.94 to $405.96            Remaining 240 payments are $436.35.
Payment Schedules for Variable-Rate Loans
Suppose an advertisement promotes a variable-rate loan that is not a    "discount" or a "buydown" and has no other special features. However,    the advertisement contains triggering terms that require disclosure of the "terms of    repayment" (which include the payment amounts). In this ad, only one payment amount    need be disclosed to comply with the law.
To determine the proper payment disclosure, calculate the payment based on        the interest rate that will be in effect initially during the loan, using the best        information available at the time you run the ad. For example, suppose you want to        determine the payments for a 30-year variable-rate mortgage in which rate changes will be        based on the one-year Treasury bill index, and in which there is no discount and no        additional "margin" added to the index.
(Click            on ad for larger image)
**RIGHT**
If that index is at 9.5% at the time you run the ad, you could disclose    the payment amounts by developing an example, using 360 monthly payments based on the 9.5%    rate. So, if you wished to offer a $100,000 condominium with a 20% downpayment (leaving an    amount financed of $80,000), with no mortgage insurance and with all prepaid finance    charges paid by the seller, the ad could state:

Payments as low as $673 monthly. 30-year loan.    20% down. 9.5% APR subject to increase.
**Payment Schedules for Discounted Variable-Rate Plans**
When an advertisement requiring disclosure of the payment schedule promotes a *discounted*variable-rate loan, rather than a variable rate plan with no special features, the    advertised payment schedule must show *all*payment amounts that can be determined    before consummation of the loan. For example, if the discounted rate is applicable for    only one year, the advertisement should show a payment for the first year based on the    reduced interest rate in effect for that year. If the interest rate is subject to annual    increases thereafter, the advertisement must show a second payment amount based upon the    interest rate that would have been in effect at consummation, except for the discount    feature of the loan. Thus, for example, the payment schedule portion of an advertisement    for a discounted variable-rate loan with a one-year discount might state:
1st year monthly payments .......................... $5852nd and subsequent years' monthly payments ..........$700.
If the reduced rate plan has limits (or "caps") on the amount that the    interest rate or payments may increase in any year, the payment schedule must also show    the effect of those caps. Suppose the plan has a cap that limits interest rate increases    each year to 2%. Also suppose that interest rates for the loan are determined by the    Treasury bill rate plus a 2% margin and that the Treasury bill rate at the time of your ad    is 10%. The rate determined by this formula would be 12% (10% plus the 2% margin). The    creditor, however, has set the first-year rate at only 9% and the second-year rate can be    no more than 11% because of the cap. In a 30-year loan for $100,000 with no other credit    charges, your payment disclosures for this loan might read:
1st year's monthly payment ........................ $ 804.62;2nd year's monthly payments ....................... $ 950.09;3rd year and subsequent year's monthly payments ... $1024.34.9Other Considerations**Typical Terms**
You may be able to simplify compliance with the law's advertising requirements by using    examples of "typical credit terms" in the ad. Suppose a home builder wants to    advertise credit terms for many houses, each with a different price, or a bank wants to    offer mortgage loans in varying amounts, with different repayment terms. In these    situations, if advertising disclosures are required, you may comply by showing one or more    examples of a typical credit transaction, as long as each example contains all of the    terms that are required to be disclosed. These examples must be labelled as such and must    be representative of the credit that is actually available.

For instance, suppose an auto dealer has "60-month financing" available on    various types of vehicles. The dealer could comply with the law by stating the credit    terms available with 60-month financing based upon an automobile that a consumer could    purchase on those terms, as follows:

60-month financing available. Example:          1988 Olds Ciara 20% down, $289 per          month, 11% APR. On approved credit.

In some situations, you may have to include more than one sample loan in the    advertisement to be sure of including the "typical" situations. For example,    suppose you are advertising 30-year financing on several houses in a development. Some of    the homes included in the ad are eligible for FHA financing, but others require larger    loan amounts with higher financing terms. In this case, the ad would have to provide two    examples, with each including the credit terms required by the Act (downpayment, terms of    repayment, and APR).
Legal Obligation
Sometimes part of the cost of credit is paid by the seller. For example, a seller will    often "discount" an auto installment agreement to another lender, such as a    bank. If the amount financed is $9,000, the seller might only receive $8,750 from the    lender.

Generally, credit advertisements (and Truth in Lending disclosures) should reflect the    consumer's legal obligation to the creditor under the credit agreement. Thus, if the    consumer is required under the installment agreement above to repay the $9,000 (plus    finance charges), the terms included in the ad should be based on an amount financed of    $9,000, not $8,750.
Similarly, the points a seller pays in closed-end credit transactions are *not*        reflected in the loan agreement between the buyer and the lender and, therefore, should        not be included in Truth in Lending disclosures or ads. The same is true for many        "buy-downs" or below-market interest rate offers. On the other hand, points paid        by the *buyer* to the lender are part of the buyer's legal obligation and must be        reflected in Truth in Lending disclosures and advertising.
(Click            on ad for larger image)
**RIGHT**
[1] "Consummation" means the time at which a    consumer becomes contractually obligated on a credit transaction. The time the obligation    arises is a matter determined under state law.

[2] The examples in this manual are for illustrative    purposes only. Be sure to check the annual percentage rates and other credit terms to be    used in your advertisements for accuracy.

[3] Sections 226.4 and 226.22 of Regulation Z provide    further information on the finance charge and annual percentage rate for closed-end    credit.

[4] Some states permit the use of "add-on    rates" as a method for calculating the yield to the lender in installment credit    transactions (for example, in sales financing). Regardless of what method is used under    state or other law to calculate the yield, the Truth in Lending Act requires that *advertisements*for a financing rate must show the "annual percentage rate."

[5] Special guidance for advertising buydowns and    graduated-payment mortgages is provided [later] this manual.

[6] Even if there are caps in the loan, the APR should    be based on the rate applicable at closing, if there are no special introductory features    in the loan. However, if there is a low introductory rate in the loan (such as a    discounted rate), the APR and disclosures should not be based solely on the initial rate.    More information concerning special types of variable-rate financing, including discounted    rates, is provided [in the text that follows].

[7] Note that in a variable rate loan with a low    introductory rate, caps on rate changes also must be included in the APR and payment    disclosures. An example of this type of transaction is provided [in the text that    follows].

[8] In graduated payment loans, payments are    relatively low in the early years of the loan. The payments rise gradually over a set    period and then, if the interest rate is fixed, remain constant for the duration of the    loan. If the rate is adjustable, interest rates and payment amounts can fluctuate over the    loan term.

[9] The APR for this loan is 11.53%. It is a blended    rate, based upon the 9% interest rate for year one (the discount period), 11% for year two    (because the rate increase is limited by the 2% rate cap), and 12% for the remainder of    the loan term (the rate at consummation). Note that if there was no low introductory    (discounted) rate in the loan, the APR and payment schedule would not include the caps. In    that event, the APR for this example would be "12% subject to increase" and the    payment disclosures would be *"*360**monthly payments of $1028.61."

[back     to top]

**OPEN-END CREDIT DISCLOSURES**

Rules for advertising open-end credit differ in important ways from those for    advertising closed-end credit. This section of the manual explains the "triggering    terms" and other rules that apply to open-end credit advertising and special rules    applicable to home equity plans.

**Triggering Terms for All Open-End Credit**

If an advertisement promoting open-end credit contains any of the following triggering    terms, three specific disclosures also must be included in the ad. The *triggering*terms    are:

(1)*The periodic rate used to compute the finance charge or the annual percentage      rate.*

**Examples:**

"Less than 1�% per month"      "14% APR"

(2) A *statement of when the finance charge begins to accrue, including the      "free ride**period (if any).*

**Examples:**

"Up to 30 days of free credit if you pay in full each month"      "We charge interest from the date we receive notice of your purchase"

(3) *The method of determining the balance on which a finance charge may be imposed*

**Examples:**

"A small monthly service charge on your remaining balance each month"      "Interest will be charged on your average daily balance each month"

(4) *The method of determining the finance charge, including a description of how any      finance charge other than the periodic rate will be determined.*

**Examples:**

"You only pay $1.00 each time you write an overdraft check"      "Minimum finance charge: 50 cents per month"

(5) *The amount of any charge other than a finance charge that may be imposed as part      of the plan.*

**Example:**

"There is a $25 annual membership fee to get your card"

These terms, in contrast, do *not*trigger the required disclosures:

"Charge Accounts Available"      "Open a Revolving Budget Account"      "Just Say 'Charge It'"      '1411 Major Credit Cards Honored"      "Charge Some Cash"

**Required Disclosures**

If any triggering term is used in an open-end credit advertisement, then the following    three *disclosures*also must appear:

(1) Any minimum, fixed, transaction, activity, or similar charge that could be imposed;

(2) Any periodic rate that may be applied, expressed as an "annual percentage      rate"10  The term "annual percentage      rate" or an abbreviation such as "APR" must be used and, if the plan      provides for a variable periodic rate, that fact must be disclosed; and

(3) Any membership or participation fee.11
**Sample Disclosure**The following advertisement would comply with the law: Now pay only 14% APR on your        credit card from XYZ Credit Services! (Annual fee $25; minimum monthly finance charge of        50 cents; $1 service charge on each cash advance.)
**Advertising Finance Rates**
In contrast to closed-end credit, the periodic rate and APR are tnggenng        terms in open-end credit, and so require the disclosures discussed above. As with        closed-end credit, however, an ad that complies with the triggering term rules may show a        periodic rate as well as the APR. For example, an ad could show the rate as 1.17 percent        per month, so long as the ad also showed the 14 percent APR and complied with the other        triggering term rules.
(Click            on ad for larger image)
**RIGHT**
**Special Compliance Issues**

**Variable Rates**

Requirements for advertising open-end, variable-rate credit plans differ in some ways    from those for closed-end plans. In an advertisement for an open-end, variable-rate plan    that contains a triggering term, there are several ways in which the annual percentage    rate may be stated. The advertisement may: - use an insert showing the current APR,       
- give the APR as of a specified date, or       
- disclose an estimated APR12

In addition, the advertisement must disclose the variable-rate feature. You can satisfy    this requirement with a statement that the "annual percentage rate may vary" or    a similar statement. The advertisement need not explain the circumstances under which the    rate may increase, the limitations on the increase, or the effects of an increase.

**Discounted Variable Rates**

Discounted variable-rate plans—a plan with an interest rate that is reduced by the    lender for a short, introductory period—are also offered in open-end financing. If    the advertisement for this plan contains a triggering term, the ad must show, in addition    to the other required information, the introductory annual percentage rate and how long    that rate is valid. It also must show the APR after the introductory period and indicate    that the second rate may vary. The rate after the introductory period (called the    "indexed rate") must be calculated using the current value of the index as of    the time of placement of the ad, or as of a specified recent date, or must be clearly and    conspicuously labeled as an estimate.

Suppose you wish to advertise a plan with a 7.5% APR for the first six months, and an    indexed rate equal to the prime rate plus a margin of 1.5% after that introductory period    If the prime rate as of the time the ad is run (say, November 1) is 10%, and the APR for    the credit would be 10.5%, the plan could be advertised as follows:

7.5% APR FOR THE FIRST SIX MONTHS!    After first six months, APR is 10.5% (as of November 1),    subject to increase based on market conditions.

Note that the ad need not give details about the adjustments, such as the index used or    the method of computing the rate. Nevertheless, you may want to provide that information    as a convenience to consumers.

**Other Considerations**

You must state all required disclosures in specific terms. For example, if an    advertisement contains a triggering term, a general statement that "the finance    charge will be imposed on the opening balance less all appropriate credits" is not    adequate to disclose the balance on which the finance charge is computed. The reason is    that this statement does not inform the consumer of the size and nature of the credits.

**Home Equity Plans**
Promotions for home equity financing are subject to special        advertising requirements, as well as to the general open-end requirements discussed above.        These special requirements apply to advertisements for home equity plans that involve        open-end credit and are secured by the consumer's dwelling, including a vacation or second        home.
(Click            on ad for larger image)
**WRONG**
If an advertisement promoting home equlty credit contains any of the    following triggering terms, stated either affirmatively or negatively, three specific    disclosures must be included in the ad. The home equity triggering terms are:

(1) The periodic rate used to compute the finance charge or the annual percentage rate.

Example:

"In our home equity plan, you pay only l/2% per month"      "We offer home equity loans for only 8% APR"

(2) A statement of when the finance charge begins to accrue, including the "free      ride" period (if any).

Example:

"There is no free ride period in this home equity plan"

(3) The method of determining the balance on which a finance charge may be imposed

Example:

"In this home equity plan, we charge interest on your previous balance"

(4) The method of determining the finance charge, including a description of how any      finance charge other than the periodic rate will be determined.

Example:

"You pay a charge of only $1.00 when you use your home equity line of credit"

(5) The amount of any charge other than a finance charge that may be imposed as part of      the plan

Example:

"No annual fees on our super home equity line"

(6) The payment terms of the plan, such as the length of the draw period, the repayment      period, and the minimum periodic payments.

Example:

"Only $100 per month in our home equity plan"      "Up to 10 years to repay"

**Required Disclosures**

If any of the above triggering terms are used in a home equity credit ad, then the    following three disclosures must appear clearly and conspicuously in the advertisement:

(1) Any loan fee that is a percentage of the credit limit under the plan, and an      estimate of any other fees for opening the plan stated as a single dollar amount or a      reasonable range;

(2) Any periodic rate used to compute the finance charge, expressed as an annual      percentage rate.

(3) The maximum annual percentage rate that may be imposed in a variable rate plan

**Discounted Rates**

If an advertisement for a home equity plan with a variable rate plan states a    discounted rate (an initial annual percentage rate that is not based on the index and    margin used for later rate adjustments), the ad must also state additional information. It    must state the period of time the initial rate will be in effect. It must also show, with    equal prominence to the initial rate, a reasonably current APR that would have been in    effect using the index and margin

**Balloon Payments**

If a home equity advertisement contains a statement about any minimum periodic payment    (only $150 per month), the ad must also disclose, if applicable, that a balloon payment    may result. However, if a balloon payment will occur if only the minimum monthly payments    are made, the advertisement must state that a balloon payment "will" result.

**Misleading Terms**

Advertisements for home equity plans may not make misleading statements regarding the    tax deductibility of any interest expense. For example, an advertisement referring to the    tax deductibility of home equity credit would not be misleading if it includes a statement    that the consumer should consult a tax advisor regarding the deductibility of interest    costs.

Home equity ads may also not use the term "free money" or similarly    misleading terms.

**Other Considerations**

Some home equity plans provide for conversion to a repayment phase in which additional    advances are not permitted beyond a certain time period. Even if this information is    included in the advertisement, the promotion is covered by the general open-end and    special home equity rules discussed in this chapter, not by the closed-end (installment)    advertising rules. For example, if the ad states "five-year draw period, with ten    additional years to pay off the balance,' the ad would comply with the law if it also    stated clearly and conspicuously:

"Only $500 to open this plan; 12% APR, subject to increase, maximum    APR 20%" 13

 

[10]In open-end credit' the "annual percentage    rate" for advertisements is found by multiplying the periodic rate by the number of    periods in a year. Sections 2264 and 22614 of Regulation Z provide further information on    the finance charge and annual percentage rate for open-end credit.

[11]Solicitations by card issuers that offer to open    a credit or charge card account are subject to additional (non-advertising) disclosure    requirements. Check Section 226.5a of Regulation Z directly for this information.

[12]If you disclose an estimated rate, the estimate    must be based on the best information reasonably available at the time of the |    advertisement, and the ad must state explicitly that the rate disclosed is an estimate.

[13]This disclosure assumes that in this home equity    plan, there are no loan fees that are a percentage of the credit limit, no minimum, fixed    transaction, or similar charges, and no membership or participation fees.

[back     to top]

**FOR FURTHERINFORMATION**

Several federal agencies enforce the credit and lease advertising regulations described    in this manual. If you need further information about credit or lease advertising and you    are under the Federal Trade Commission's jurisdiction, contact the **Regional office** nearest you. If    you are under the jurisdiction of another federal agency, contact the appropriate agency    at the address provided below:
***Comptroller of the Currency***Department of the Treasury        250 E Street, S.W.        Washington, D.C. 20219National Banks***Board of Governors of the        Federal Reserve System***        Division of Consumer and Community Affairs        Washington, D.C. 20551State member banks of the Federal Reserve System***Federal Deposit Insurance        Corp.***        550 17th Street, N.W. (F130)        Washington, D.C. 20429FDIC-insured banks not members of the Federal Reserve System***Office of Thrift Supervision***        Office of Regulatory Activity        1700 G Street, N.W.        Washington, D.C. 20552Federally-insured savings institutions and members of the        Office of Thrift Supervision System not insured by FDIC.***Department of        Transportation***        Consumer Affairs Division        400 Seventh Street, S.W.        Washington, D.C. 20591Air carriers***National Credit Union        Admin.***        1775 Duke Street        Alexandria, VA 22314Federal credit unions***Farm Credit Administration***        1501 Farm Credit Drive        McLean, VA 22102Federal land banks, federal land bank ass'ns., federal        intermediate credit banks, production credit associations***Department of Agriculture***        14th Street & Indep. Ave., S.W.        Washington, D.C. 20250Packers & stockyards
**Your Opportunity to Comment**The Small Business and Agriculture Regulatory Enforcement Ombudsman and 10    Regional Fairness Boards collect comments from small business about federal enforcement    actions. Each year, the Ombudsman evaluates enforcement activities and rates each    agency’s responsiveness to small business. To comment on FTC actions, call    1-888-734-3247.The FTC works for the consumer to       prevent fraudulent, deceptive and unfair business practices in the       marketplace and to provide information to help consumers spot, stop and       avoid them. To file a       complaint or to get free information       on consumer issues, visit www.ftc.gov or       call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The       FTC enters Internet, telemarketing, identity theft and other fraud-related       complaints into       Consumer Sentinel, a       secure, online database available to hundreds of civil and criminal law       enforcement agencies in the U.S. and abroad. **FEDERAL TRADE COMMISSION****FOR THE CONSUMER****1-877-FTC-HELP****www.ftc.gov**
[back to         top]                           |