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Title 15, Commerce and TradeRelease 119-110

§1632 Form of Disclosure; Additional Information

Title 15 › CHAPTER 41 — CONSUMER CREDIT PROTECTION › SUBCHAPTER I — CONSUMER CREDIT COST DISCLOSURE › Part B — Credit Transactions › § 1632

Last updated Sep 23, 2026|Official source

Summary

Creditors must show the required information clearly and in a way people will notice, following rules the Bureau sets. The terms "annual percentage rate" and "finance charge" must stand out more than other details, except the creditor’s name. The Bureau can let disclosures use different words or a different order if they mean the same thing. Creditors or lessors may add extra explanations. For some credit-card terms, the Bureau will require a specific, easy-to-find format on written applications or papers. When practical, that information should appear in a table with clear headings and short entries. The table’s heading or the statement about timing must include the phrase "grace period." Each creditor must put the written credit card agreement for every open-end consumer credit plan account on a website. Creditors must also give those agreements to the Bureau in electronic form. The Bureau will keep a public, searchable central collection of the agreements. Individually negotiated changes for one consumer do not have to be posted. The Bureau, working with federal banking agencies, may make rules about the posting format and create exceptions when the burden outweighs the benefit, such as for accounts with a de minimis number of holders.

Full Legal Text

Title 15, §1632

Commerce and Trade, Source: USLM XML via OLRC

(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 Bureau. 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), regulations of the Bureau 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 (c) Tabular format required for certain disclosures under section 1637(c)
Any creditor or lessor may supply additional information or explanation with any disclosures required under parts D and E and, except as provided in section 1637a(b)(3) and 1638(b)(1) of this title, under this part.
(d)Additional electronic disclosures
(1)Posting agreements
Each creditor shall establish and maintain an Internet site on which the creditor shall post the written agreement between the creditor and the consumer for each credit card account under an open-end consumer credit plan.
(2)Creditor to provide contracts to the Bureau
Each creditor shall provide to the Bureau, in electronic format, the consumer credit card agreements that it publishes on its Internet site.
(3)Record repository
The Bureau shall establish and maintain on its publicly available Internet site a central repository of the consumer credit card agreements received from creditors pursuant to this subsection, and such agreements shall be easily accessible and retrievable by the public.
(4)Exception
This subsection shall not apply to individually negotiated changes to contractual terms, such as individually modified workouts or renegotiations of amounts owed by a consumer under an open end consumer credit plan.
(5)Regulations
The Bureau, in consultation with the other Federal banking agencies (as that term is defined in section 1681a of this title) and the Bureau, may promulgate regulations to implement this subsection, including specifying the format for posting the agreements on the Internet sites of creditors and establishing exceptions to paragraphs (1) and (2), in any case in which the administrative burden outweighs the benefit of increased transparency, such as where a credit card plan has a de minimis number of consumer account holders.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

2010—Subsecs. (a), (c). Pub. L. 111–203, § 1100A(2), substituted “Bureau” for “Board” wherever appearing. Subsec. (d)(2), (3). Pub. L. 111–203, § 1100A(2), substituted “Bureau” for “Board” wherever appearing. Subsec. (d)(5). Pub. L. 111–203 substituted “The Bureau, in” for “The Board, in” and “and the Bureau, may” for “and the Federal Trade Commission, may”. 2009—Subsec. (d). Pub. L. 111–24 added subsec. (d). 1988—Subsec. (a). Pub. L. 100–583, § 2(b)(1), substituted “Except as provided in subsection (c),

Regulations

” for “

Regulations

”. Subsec. (b). Pub. L. 100–709 substituted “section 1637a(b)(3) and 1638(b)(1)” for “section 1638(b)(1)”. Subsec. (c). Pub. L. 100–583, § 2(b)(2), added subsec. (c). 1980—Subsec. (a). Pub. L. 96–221 substituted provisions setting forth form of disclosure to meet requirements of this subchapter, for provisions setting forth form of disclosure authorized under this part or part D of this subchapter. Subsec. (b). Pub. L. 96–221 substituted provisions setting forth disclosure requirements for additional information by creditors or lessors, for provisions setting forth disclosure requirements for additional information by creditors. 1974—Subsecs. (a), (b). Pub. L. 93–495 inserted references to part D of this subchapter.

Statutory Notes and Related Subsidiaries

Effective Date

of 2010 AmendmentAmendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

Effective Date

of 2009 AmendmentAmendment by Pub. L. 111–24 effective 9 months after May 22, 2009, except as otherwise specifically provided, see section 3 of Pub. L. 111–24, set out as a note under section 1602 of this title.

Effective Date

of 1988 AmendmentFor

Effective Date

of

Amendments

by Pub. L. 100–709, see

Effective Date

note below.

Effective Date

of 1980 AmendmentAmendment by Pub. L. 96–221 effective on expiration of two years and six months after Mar. 31, 1980, with all

Regulations

, forms, and clauses required to be prescribed to be promulgated at least one year prior to such

Effective Date

, and allowing any creditor to comply with any

Amendments

, in accordance with the

Regulations

, forms, and clauses prescribed by the Board prior to such

Effective Date

, see section 625 of Pub. L. 96–221, set out as a note under section 1602 of this title.

Effective Date

of 1974 AmendmentFor

Effective Date

of amendment by Pub. L. 93–495, see section 308 of Pub. L. 93–495, set out as an

Effective Date

note under section 1666 of this title.

Effective Date

For provisions relating to promulgation of

Regulations

to implement amendment by Pub. L. 100–709, and

Effective Date

of such amendment in connection with those

Regulations

, see section 7 of Pub. L. 100–709, set out as a note under section 1637a of this title. For provisions relating to promulgation of

Regulations

to implement amendment by Pub. L. 100–583, and

Effective Date

of such amendment in connection with those

Regulations

, see section 7 of Pub. L. 100–583, set out as a note under section 1637 of this title.

Reference

Citations & Metadata

Citation

15 U.S.C. § 1632

Title 15, Commerce and Trade

Last Updated

Sep 23, 2026

Release point: 119-110