427
credit described in paragraph (2) has on the rate of
bankruptcy cases filed under title 11, United States
Code.
(2) EXTENSION OF CREDIT.—The extension of
credit described in this paragraph is the extension of
credit to individuals who are—
(A) claimed as dependents for purposes of
the Internal Revenue Code of 1986; and
(B) enrolled within 1 year of successfully
completing all required secondary education re-
quirements and on a full-time basis, in postsec-
ondary educational institutions.
(b) REPORT.—Not later than 1 year after the date
of enactment of this Act, the Board shall submit to the
Senate and the House of Representatives a report summa-
rizing the results of the study conducted under subsection
(a).
SEC. 1309. CLARIFICATION OF CLEAR AND CONSPICUOUS.
(a) REGULATIONS.—Not later than 6 months after
the date of enactment of this Act, the Board, in consulta-
tion with the other Federal banking agencies (as defined
in section 3 of the Federal Deposit Insurance Act), the
National Credit Union Administration Board, and the
Federal Trade Commission, shall promulgate regulations
to provide guidance regarding the meaning of the term
428
‘‘clear and conspicuous’’, as used in subparagraphs (A),
(B), and (C) of section 127(b)(11) and clauses (ii) and
(iii) of section 127(c)(6)(A) of the Truth in Lending Act.
(b) EXAMPLES.—Regulations promulgated under
subsection (a) shall include examples of clear and con-
spicuous model disclosures for the purposes of disclosures
required by the provisions of the Truth in Lending Act
referred to in subsection (a).
(c) STANDARDS.—In promulgating regulations under
this section, the Board shall ensure that the clear and con-
spicuous standard required for disclosures made under the
provisions of the Truth in Lending Act referred to in sub-
section (a) can be implemented in a manner which results
in disclosures which are reasonably understandable and
designed to call attention to the nature and significance
of the information in the notice.
SEC. 1310. ENFORCEMENT OF CERTAIN FOREIGN JUDG-
MENTS BARRED.
(a) IN GENERAL.—Notwithstanding any other provi-
sion of law or contract, a court within the United States
shall not recognize or enforce any judgment rendered in
a foreign court if, by clear and convincing evidence, the
court in which recognition or enforcement of the judgment
is sought determines that the judgment gives effect to any
purported right or interest derived, directly or indirectly,
429
from any fraudulent misrepresentation or fraudulent omis-
sion that occurred in the United States during the period
beginning on January 1, 1975, and ending on December
31, 1993.
(b) EXCEPTION.—Subsection (a) shall not prevent
recognition or enforcement of a judgment rendered in a
foreign court if the foreign tribunal rendering judgment
giving effect to the right or interest concerned determines
that no fraudulent misrepresentation or fraudulent omis-
sion described in subsection (a) occurred.
TITLE 
XIV—GENERAL 
EFFEC-
TIVE DATE; APPLICATION OF
AMENDMENTS
SEC. 1401. EFFECTIVE DATE; APPLICATION OF AMEND-
MENTS.
(a) EFFECTIVE DATE.—Except as otherwise provided
in this Act, this Act and the amendments made by this
Act shall take effect 180 days after the date of enactment
of this Act.
(b) APPLICATION OF AMENDMENTS.—Except as oth-
erwise provided in this Act, the amendments made by this
Act shall not apply with respect to cases commenced under
430
title 11, United States Code, before the effective date of
this Act.
Passed the House of Representatives March 1,
2001.
Attest:
Clerk.