Title 15 — Commerce and TradeRelease 119-73not60
§1662 Advertising of Downpayments and Installments
Title 15 › Chapter 41— CONSUMER CREDIT PROTECTION › Subchapter I— CONSUMER CREDIT COST DISCLOSURE › Part C— Credit Advertising and Limits on Credit Card Fees › § 1662
Summary
Ads for loans cannot say they can arrange a specific regular payment or installment unless the lender actually and routinely arranges payments for that time period and in that exact amount. Ads also cannot say a certain downpayment is required unless the lender actually and routinely requires downpayments of that exact size.
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 3, 2026
Release point: 119-73not60