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Title 15, Commerce and TradeRelease 119-110

§1646 Dissemination of Annual Percentage Rates; Implementation, Etc.

Title 15 › CHAPTER 41 — CONSUMER CREDIT PROTECTION › SUBCHAPTER I — CONSUMER CREDIT COST DISCLOSURE › Part B — Credit Transactions › § 1646

Last updated Sep 22, 2026|Official source

Summary

The Bureau must collect and publish annual percentage rates (APRs) for typical kinds of credit that are not sales. It will do this as a test in several metropolitan areas it picks. The Bureau can require lenders in those areas to give the information it needs. The Bureau must also collect credit card price and availability data twice a year from a large group of banks and lenders. That group must include the 25 largest card issuers and at least 125 other institutions chosen to give fair geographic spread and a mix of types. Each sampled institution must report the data as the Bureau directs. The Bureau must make the information available to the public on request and report it to Congress twice a year. The Bureau may hire or contract with others and provide funds to help carry out these tasks.

Full Legal Text

Title 15, §1646

Commerce and Trade, Source: USLM XML via OLRC

(a)Annual percentage rates
The Bureau shall collect, publish, and disseminate to the public, on a demonstration basis in a number of standard metropolitan statistical areas to be determined by the Bureau, the annual percentage rates charged for representative types of nonsale credit by creditors in such areas. For the purpose of this section, the Bureau is authorized to require creditors in such areas to furnish information necessary for the Bureau to collect, publish, and disseminate such information.
(b)Credit card price and availability information
(1)Collection required
The Bureau shall collect, on a semiannual basis, credit card price and availability information, including the information required to be disclosed under section 1637(c) of this title, from a broad sample of financial institutions which offer credit card services.
(2)Sample requirements
The broad sample of financial institutions required under paragraph (1) shall include—
(A)the 25 largest issuers of credit cards; and
(B)not less than 125 additional financial institutions selected by the Bureau in a manner that ensures—
(i)an equitable geographical distribution within the sample; and
(ii)the representation of a wide spectrum of institutions within the sample.
(3)Report of information from sample
Each financial institution in the broad sample established pursuant to paragraph (2) shall report the information to the Bureau in accordance with such regulations or orders as the Bureau may prescribe.
(4)Public availability of collected information; report to Congress
The Bureau shall—
(A)make the information collected pursuant to this subsection available to the public upon request; and
(B)report such information semiannually to Congress.
(c)Implementation
The Bureau is authorized to enter into contracts or other arrangements with appropriate persons, organizations, or State agencies to carry out its functions under subsections (a) and (b) and to furnish financial assistance in support thereof.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

2010—Pub. L. 111–203 substituted “Bureau” for “Board” wherever appearing. 1988—Subsecs. (b), (c). Pub. L. 100–583 added subsec. (b), redesignated former subsec. (b) as (c), and substituted “subsections (a) and (b)” for “subsection (a)”.

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

Section 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 an

Effective Date

of 1980 Amendment note under section 1602 of this title.

Reference

Citations & Metadata

Citation

15 U.S.C. § 1646

Title 15, Commerce and Trade

Last Updated

Sep 22, 2026

Release point: 119-110