15 USC 1662: Advertising of downpayments and installments
Text contains those laws in effect on November 14, 2024
From Title 15-COMMERCE AND TRADECHAPTER 41-CONSUMER CREDIT PROTECTIONSUBCHAPTER I-CONSUMER CREDIT COST DISCLOSUREPart C-Credit Advertising and Limits on Credit Card Fees
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§1662. Advertising of downpayments and installments
No advertisement to aid, promote, or assist directly or indirectly any extension of consumer credit may state
(1) that a specific periodic consumer credit amount or installment amount can be arranged, unless the creditor usually and customarily arranges credit payments or installments for that period and in that amount.
(2) that a specified downpayment is required in connection with any extension of consumer credit, unless the creditor usually and customarily arranges downpayments in that amount.
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