Text: SSB03086 Text: SSB03088 Text: SSB03000 - SSB03099 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 537.3205, subsection 6, Code 1999, is 1 2 amended to read as follows: 1 3 6. Notwithstanding subsections 1 through 5, a creditor is 1 4 not required to deliver or mail to the consumer a written 1 5 disclosure of a change in the terms of an open-end credit 1 6 account if the change involves a decrease in the rate of the 1 7 finance charge, a decrease in a delinquency charge,ora 1 8 decrease in an over-limit charge, or an increase in the rate 1 9 of the finance charge when the consumer has entered into an 1 10 agreement to access funds and the agreement provides for the 1 11 interest rate to be established at the time the funds are 1 12 accessed. 1 13 EXPLANATION 1 14 This bill provides that a creditor is not required to 1 15 deliver or mail to the consumer a written disclosure of a 1 16 change in the terms of an open-end credit account if the 1 17 change involves an increase in the rate of the finance charge 1 18 when the consumer has entered into an agreement to access 1 19 funds and the agreement provides for the interest rate to be 1 20 established at the time the funds are accessed. 1 21 LSB 6536SC 78 1 22 mj/cf/24
Text: SSB03086 Text: SSB03088 Text: SSB03000 - SSB03099 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
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