Text: HF02235 Text: HF02237 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 537.3205, Code 1995, is amended by 1 2 adding the following new subsection: 1 3 NEW SUBSECTION. 6. Notwithstanding subsections 1 through 1 4 5, a creditor is not required to deliver or mail to the 1 5 consumer a written disclosure of a change in the terms of an 1 6 open-end credit account if the change involves a decrease in 1 7 the rate of the finance charge, a decrease in a delinquency 1 8 charge, or a decrease in an over-limit charge. 1 9 EXPLANATION 1 10 This bill provides that a creditor is not required to 1 11 deliver or mail to the consumer a written disclosure of a 1 12 change in the terms of an open-end credit account if the 1 13 change involves a decrease in the rate of the finance charge, 1 14 a decrease in a delinquency charge, or a decrease in an over- 1 15 limit charge. Section 537.3205 currently provides that a 1 16 creditor may make a change in the terms of an open-end credit 1 17 account applying to any balance incurred after the effective 1 18 date of the change only if the creditor delivers or mails to 1 19 the consumer a written disclosure of the change at least 60 1 20 days before the effective date of the change, whether or not 1 21 such change is authorized by a prior agreement. 1 22 LSB 3826HH 76 1 23 mj/sc/14
Text: HF02235 Text: HF02237 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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