Pub. L. 111-24, 123 Stat. 1734, as amended by Pub. L. 111-93, 123 Stat. 2998, and Pub. L. 111-209, 123 Stat. 2254, codified in various sections of Title 16 of the U.S. Code
This Act (a) amends the Truth in Lending Act to prescribe open-end credit lending procedures and enhanced disclosures to consumers, limit related fees and charges to consumers, increase related penalties, and establish constraints and protections for issuance of credit cards to minors and students; (b) amends the Electronic Fund Transfer Act to address fees and other terms of gift certificates, store gift cards, and general-use prepaid cards; (c) amends the Fair Credit Reporting Act by requiring FTC rulemaking to mandate that advertisements for free credit reports disclose that free credit reports are available under Federal law at annualcreditreport.com; and (d) amends the 2009 Omnibus Appropriations Act mortgage-related rulemaking provisions to clarify the FTC's rulemaking authority under that act. This Act also requires other rulemaking, studies and activities involving FTC participation.