{"identifier":"/us/usc/t15/s1632","title":15,"num":"\u00a7\u202f1632.","heading":"Form of disclosure; additional information","text":"\u00a7\u202f1632.\nForm of disclosure; additional information\n(a)\nInformation clearly and conspicuously disclosed; \u201cannual percentage rate\u201d and \u201cfinance charge\u201d; order of disclosures and use of different terminology\nInformation required by this subchapter shall be disclosed clearly and conspicuously, in accordance with regulations of the Bureau. The terms \u201cannual percentage rate\u201d and \u201cfinance charge\u201d shall be disclosed more conspicuously than other terms, data, or information provided in connection with a transaction, except information relating to the identify of the creditor. Except as provided in subsection (c), regulations of the Bureau need not require that disclosures pursuant to this subchapter be made in the order set forth in this subchapter and, except as otherwise provided, may permit the use of terminology different from that employed in this subchapter if it conveys substantially the same meaning.\n(b)\nOptional information by creditor or lessor\nAny creditor or lessor may supply additional information or explanation with any disclosures required under parts D and E and, except as provided in sections 1637a(b)(3) and 1638(b)(1) of this title, under this part.\n(c)\nTabular format required for certain disclosures under section 1637(c)\n(1)\nIn general\nThe information described in paragraphs (1)(A), (3)(B)(i)(I), (4)(A), and (4)(C)(i)(I) of\n(A) disclosed in the form and manner which the Bureau shall prescribe by regulations; and\n(B) placed in a conspicuous and prominent location on or with any written application, solicitation, or other document or paper with respect to which such disclosure is required.\n(2)\nTabular format\n(A)\nForm of table to be prescribed\nIn the regulations prescribed under paragraph (1)(A) of this subsection, the Bureau shall require that the disclosure of such information shall, to the extent the Bureau determines to be practicable and appropriate, be in the form of a table which\u2014\n(i) contains clear and concise headings for each item of such information; and\n(ii) provides a clear and concise form for stating each item of information required to be disclosed under each such heading.\n(B)\nBureau discretion in prescribing order and wording of table\nIn prescribing the form of the table under subparagraph (A), the Bureau may\u2014\n(i) list the items required to be included in the table in a different order than the order in which such items are set forth in paragraph (1)(A) or (4)(A) of\nsection 1637(c) of this title\n(ii) subject to subparagraph (C), employ terminology which is different than the terminology which is employed in\nsection 1637(c) of this title\n(C)\nGrace period\nEither the heading or the statement under the heading which relates to the time period referred to in\nsection 1637(c)(1)(A)(iii) of this title\n(d)\nAdditional electronic disclosures\n(1)\nPosting agreements\nEach creditor shall establish and maintain an Internet site on which the creditor shall post the written agreement between the creditor and the consumer for each credit card account under an open-end consumer credit plan.\n(2)\nCreditor to provide contracts to the Bureau\nEach creditor shall provide to the Bureau, in electronic format, the consumer credit card agreements that it publishes on its Internet site.\n(3)\nRecord repository\nThe Bureau shall establish and maintain on its publicly available Internet site a central repository of the consumer credit card agreements received from creditors pursuant to this subsection, and such agreements shall be easily accessible and retrievable by the public.\n(4)\nException\nThis subsection shall not apply to individually negotiated changes to contractual terms, such as individually modified workouts or renegotiations of amounts owed by a consumer under an open end consumer credit plan.\n(5)\nRegulations\nThe Bureau, in consultation with the other Federal banking agencies (as that term is defined in\nsection 1681a of this title\n1\n1 So in original.","url":"https://projectusc.org/usc/t15/s1632.html","content":[{"t":"sec","id":"/us/usc/t15/s1632","children":[{"t":"num","text":"\u00a7\u202f1632."},{"t":"heading","text":"Form of disclosure; additional information"},{"t":"subsec","id":"/us/usc/t15/s1632/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Information clearly and conspicuously disclosed; \u201cannual percentage rate\u201d and \u201cfinance charge\u201d; order of disclosures and use of different terminology"},{"t":"content","children":[{"t":"p","text":"Information required by this subchapter shall be disclosed clearly and conspicuously, in accordance with regulations of the Bureau. The terms \u201cannual percentage rate\u201d and \u201cfinance charge\u201d shall be disclosed more conspicuously than other terms, data, or information provided in connection with a transaction, except information relating to the identify of the creditor. Except as provided in subsection (c), regulations of the Bureau need not require that disclosures pursuant to this subchapter be made in the order set forth in this subchapter and, except as otherwise provided, may permit the use of terminology different from that employed in this subchapter if it conveys substantially the same meaning.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s1632/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Optional information by creditor or lessor"},{"t":"content","children":[{"t":"p","text":"Any creditor or lessor may supply additional information or explanation with any disclosures required under parts D and E and, except as provided in sections 1637a(b)(3) and 1638(b)(1) of this title, under this part.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s1632/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Tabular format required for certain disclosures under section 1637(c)"},{"t":"para","id":"/us/usc/t15/s1632/c/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"In general"},{"t":"chapeau","text":"The information described in paragraphs (1)(A), (3)(B)(i)(I), (4)(A), and (4)(C)(i)(I) of ","children":[{"t":"ref","text":"section 1637(c) of this title","href":"/us/usc/t15/s1637/c","tail":" shall be\u2014"}]},{"t":"subpara","id":"/us/usc/t15/s1632/c/1/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" disclosed in the form and manner which the Bureau shall prescribe by regulations; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t15/s1632/c/1/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" placed in a conspicuous and prominent location on or with any written application, solicitation, or other document or paper with respect to which such disclosure is required.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1632/c/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Tabular format"},{"t":"subpara","id":"/us/usc/t15/s1632/c/2/A","children":[{"t":"num","text":"(A)"},{"t":"heading","text":"Form of table to be prescribed"},{"t":"chapeau","text":"In the regulations prescribed under paragraph (1)(A) of this subsection, the Bureau shall require that the disclosure of such information shall, to the extent the Bureau determines to be practicable and appropriate, be in the form of a table which\u2014"},{"t":"clause","id":"/us/usc/t15/s1632/c/2/A/i","children":[{"t":"num","text":"(i)"},{"t":"content","text":" contains clear and concise headings for each item of such information; and","tail":"\n"}],"tail":"\n"},{"t":"clause","id":"/us/usc/t15/s1632/c/2/A/ii","children":[{"t":"num","text":"(ii)"},{"t":"content","text":" provides a clear and concise form for stating each item of information required to be disclosed under each such heading.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t15/s1632/c/2/B","children":[{"t":"num","text":"(B)"},{"t":"heading","text":"Bureau discretion in prescribing order and wording of table"},{"t":"chapeau","text":"In prescribing the form of the table under subparagraph (A), the Bureau may\u2014"},{"t":"clause","id":"/us/usc/t15/s1632/c/2/B/i","children":[{"t":"num","text":"(i)"},{"t":"content","text":" list the items required to be included in the table in a different order than the order in which such items are set forth in paragraph (1)(A) or (4)(A) of ","children":[{"t":"ref","text":"section 1637(c) of this title","href":"/us/usc/t15/s1637/c","tail":"; and"}],"tail":"\n"}],"tail":"\n"},{"t":"clause","id":"/us/usc/t15/s1632/c/2/B/ii","children":[{"t":"num","text":"(ii)"},{"t":"content","text":" subject to subparagraph (C), employ terminology which is different than the terminology which is employed in ","children":[{"t":"ref","text":"section 1637(c) of this title","href":"/us/usc/t15/s1637/c","tail":" if such terminology conveys substantially the same meaning."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t15/s1632/c/2/C","children":[{"t":"num","text":"(C)"},{"t":"heading","text":"Grace period"},{"t":"content","children":[{"t":"p","text":"Either the heading or the statement under the heading which relates to the time period referred to in ","children":[{"t":"ref","text":"section 1637(c)(1)(A)(iii) of this title","href":"/us/usc/t15/s1637/c/1/A/iii","tail":" shall contain the term \u201cgrace period\u201d."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s1632/d","children":[{"t":"num","text":"(d)"},{"t":"heading","text":"Additional electronic disclosures"},{"t":"para","id":"/us/usc/t15/s1632/d/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"Posting agreements"},{"t":"content","children":[{"t":"p","text":"Each creditor shall establish and maintain an Internet site on which the creditor shall post the written agreement between the creditor and the consumer for each credit card account under an open-end consumer credit plan.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1632/d/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Creditor to provide contracts to the Bureau"},{"t":"content","children":[{"t":"p","text":"Each creditor shall provide to the Bureau, in electronic format, the consumer credit card agreements that it publishes on its Internet site.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1632/d/3","children":[{"t":"num","text":"(3)"},{"t":"heading","text":"Record repository"},{"t":"content","children":[{"t":"p","text":"The Bureau shall establish and maintain on its publicly available Internet site a central repository of the consumer credit card agreements received from creditors pursuant to this subsection, and such agreements shall be easily accessible and retrievable by the public.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1632/d/4","children":[{"t":"num","text":"(4)"},{"t":"heading","text":"Exception"},{"t":"content","children":[{"t":"p","text":"This subsection shall not apply to individually negotiated changes to contractual terms, such as individually modified workouts or renegotiations of amounts owed by a consumer under an open end consumer credit plan.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t15/s1632/d/5","children":[{"t":"num","text":"(5)"},{"t":"heading","text":"Regulations"},{"t":"content","children":[{"t":"p","text":"The Bureau, in consultation with the other Federal banking agencies (as that term is defined in ","children":[{"t":"ref","text":"section 1681a of this title","href":"/us/usc/t15/s1681a","tail":") and the Bureau,"},{"t":"ref","text":"1"},{"t":"num","text":"1","tail":"\u202fSo in original."},{"t":"text","text":"\u202fSo in original.","tail":" may promulgate regulations to implement this subsection, including specifying the format for posting the agreements on the Internet sites of creditors and establishing exceptions to paragraphs (1) and (2), in any case in which the administrative burden outweighs the benefit of increased transparency, such as where a credit card plan has a de minimis number of consumer account holders."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}