I 
109TH CONGRESS 
1ST SESSION H. R. 3852 
To require enhanced disclosure to consumers regarding the consequences 
of making only minimum required payments in the repayment of credit 
card debt, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 21, 2005 
Mr. PRICE of North Carolina introduced the following bill; which was referred 
to the Committee on Financial Services 
A BILL 
To require enhanced disclosure to consumers regarding the 
consequences of making only minimum required pay-
ments in the repayment of credit card debt, and for 
other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Credit Card Minimum 
Payment Warning Act of 2005’’. 
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SEC. 2. ENHANCED CONSUMER DISCLOSURES REGARDING 
MINIMUM PAYMENTS. 
Section 127(b) of the Truth in Lending Act (15 
U.S.C. 1637(b)) is amended by adding at the end the fol-
lowing new paragraph: 
‘‘(12)(A) Information regarding repayment of 
the outstanding balance of the consumer under the 
account, appearing in conspicuous type on the front 
of the first page of each such billing statement, and 
accompanied by an appropriate explanation, con-
taining— 
‘‘(i) the words ‘Minimum Payment Warn-
ing: Making only the minimum payment will in-
crease the amount of interest that you pay and 
the time it will take to repay your outstanding 
balance.’; 
‘‘(ii) the number of years and months 
(rounded to the nearest month) that it would 
take for the consumer to pay the entire amount 
of that balance, if the consumer pays only the 
required minimum monthly payments; 
‘‘(iii) the total cost to the consumer, shown 
as the sum of all principal and interest pay-
ments, and a breakdown of the total costs in in-
terest and principal, of paying that balance in 
full if the consumer pays only the required min-
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imum monthly payments, and if no further ad-
vances are made; 
‘‘(iv) the monthly payment amount that 
would be required for the consumer to eliminate 
the outstanding balance in 36 months if no fur-
ther advances are made; and 
‘‘(v) a toll-free telephone number at which 
the consumer may receive information about ac-
cessing credit counseling and debt management 
services. 
‘‘(B)(i) Subject to clause (ii), in making the dis-
closures under subparagraph (A) the creditor shall 
apply the interest rate in effect on the date on which 
the disclosure is made. 
‘‘(ii) If the interest rate in effect on the date on 
which the disclosure is made is a temporary rate 
that will change under a contractual provision speci-
fying a subsequent interest rate or applying an index 
or formula for subsequent interest rate adjustment, 
the creditor shall apply the interest rate in effect on 
the date on which the disclosure is made for as long 
as that interest rate will apply under that contrac-
tual provision, and then shall apply the adjusted in-
terest rate, as specified in the contract. If the con-
tract applies a formula that uses an index that var-
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