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U.S. Code as of:
01/19/04
Section 1632. Form of disclosure; additional information
(a) Information clearly and conspicuously disclosed; "annual
percentage rate" and "finance charge"; order of disclosures and
use of different terminology
Information required by this subchapter shall be disclosed
clearly and conspicuously, in accordance with regulations of the
Board. The terms "annual percentage rate" and "finance charge"
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) of this section, regulations of the
Board 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.
(b) Optional information by creditor or lessor
Any creditor or lessor may supply additional information or
explanation with any disclosures required under parts D and E of
this subchapter and, except as provided in sections 1637a(b)(3) and
1638(b)(1) of this title, under this part.
(c) Tabular format required for certain disclosures under section
1637(c)
(1) In general
The information described in paragraphs (1)(A), (3)(B)(i)(I),
(4)(A), and (4)(C)(i)(I) of section 1637(c) of this title shall
be -
(A) disclosed in the form and manner which the Board shall
prescribe by regulations; and
(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.
(2) Tabular format
(A) Form of table to be prescribed
In the regulations prescribed under paragraph (1)(A) of this
subsection, the Board shall require that the disclosure of such
information shall, to the extent the Board determines to be
practicable and appropriate, be in the form of a table which -
(i) contains clear and concise headings for each item of
such information; and
(ii) provides a clear and concise form for stating each
item of information required to be disclosed under each such
heading.
(B) Board discretion in prescribing order and wording of table
In prescribing the form of the table under subparagraph (A),
the Board may -
(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 section 1637(c) of
this title; and
(ii) subject to subparagraph (C), employ terminology which
is different than the terminology which is employed in
section 1637(c) of this title if such terminology conveys
substantially the same meaning.
(C) Grace period
Either the heading or the statement under the heading which
relates to the time period referred to in section
1637(c)(1)(A)(iii) of this title shall contain the term "grace
period".
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