Title 15 — Commerce and TradeRelease 119-73
§1662 Advertising of downpayments and installments
Title 15 › Chapter CHAPTER 41— - CONSUMER CREDIT PROTECTION › Subchapter SUBCHAPTER I— - CONSUMER CREDIT COST DISCLOSURE › Part Part C— - Credit Advertising and Limits on Credit Card Fees › § 1662
Summary
Advertisements must not promise a specific periodic payment or installment plan for credit unless the lender actually and regularly arranges credit with that exact payment period and amount. Ads also must not say a particular downpayment is required unless the lender regularly accepts that downpayment.
Full Legal Text
Title 15, §1662
Commerce and Trade — Source: USLM XML via OLRC
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.
Reference
Citations & Metadata
Citation
15 U.S.C. § 1662
Title 15 — Commerce and Trade
Last Updated
Apr 6, 2026
Release point: 119-73