Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1666c&num=0&edition=prelim
Timestamp: 2020-08-14 06:49:33
Document Index: 664223445

Matched Legal Cases: ['§ 1666', '§1666', '§164', '§306', '§104', '§1087', '§1100', '§1100', '§104', '§104', '§104']

[USC02] 15 USC 1666c: Prompt and fair crediting of payments
<< Previous TITLE 15 / CHAPTER 41 / SUBCHAPTER I / Part D / § 1666c Next >>
15 USC 1666c: Prompt and fair crediting of payments Text contains those laws in effect on August 13, 2020
§1666c. Prompt and fair crediting of payments
Payments received from an obligor under an open end consumer credit plan by the creditor shall be posted promptly to the obligor's account as specified in regulations of the Bureau. Such regulations shall prevent a finance charge from being imposed on any obligor if the creditor has received the obligor's payment in readily identifiable form, by 5:00 p.m. on the date on which such payment is due, in the amount, manner, and location indicated by the creditor to avoid the imposition thereof.
(Pub. L. 90–321, title I, §164, as added Pub. L. 93–495, title III, §306, Oct. 28, 1974, 88 Stat. 1514 ; amended Pub. L. 111–24, title I, §104, May 22, 2009, 123 Stat. 1741 ; Pub. L. 111–203, title X, §§1087, 1100A(2), July 21, 2010, 124 Stat. 2086 , 2107.)
Pub L. 111–203, §1100A(2), which directed the substitution of "Bureau" for "Board" wherever appearing in title I of Pub. L. 90–321, was executed to this section, which is section 164 of title I of Pub. L. 90–321. Section 1087 of Pub. L. 111–203, which directed the making of an identical amendment in title III of Pub. L. 93–495, which added this section to title I of Pub. L. 90–321, has not been executed.
2010-Subsec. (a). Pub. L. 111–203, §1100A(2), substituted "Bureau" for "Board". See Codification note above.
2009-Pub. L. 111–24, §104(1), substituted "Prompt and fair crediting of payments" for "Prompt crediting of payments" in section catchline, designated existing provisions as subsec. (a), and inserted subsec. (a) heading.
Subsec. (a). Pub. L. 111–24, §104(2), (3), inserted ", by 5:00 p.m. on the date on which such payment is due," after "in readily identifiable form" and substituted "manner, and location" for "manner, location, and time".
Subsecs. (b), (c). Pub. L. 111–24, §104(4), added subsecs. (b) and (c).