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[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 15USC1646]

 
                      TITLE 15--COMMERCE AND TRADE
 
                 CHAPTER 41--CONSUMER CREDIT PROTECTION
 
              SUBCHAPTER I--CONSUMER CREDIT COST DISCLOSURE
 
                       Part B--Credit Transactions
 
Sec. 1646. Dissemination of annual percentage rates; 
        implementation, etc.
        

(a) Annual percentage rates

    The Board 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 Board, the annual percentage rates charged 
for representative types of nonsale credit by creditors in such areas. 
For the purpose of this section, the Board is authorized to require 
creditors in such areas to furnish information necessary for the Board 
to collect, publish, and disseminate such information.

(b) Credit card price and availability information

                       (1) Collection required

        The Board 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 Board 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 Board 
    in accordance with such regulations or orders as the Board may 
    prescribe.

    (4) Public availability of collected information; report to 
                                  Congress

        The Board 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 Board 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) of this section 
and to furnish financial assistance in support thereof.

(Pub. L. 90-321, title I, Sec. 136, as added Pub. L. 96-221, title VI, 
Sec. 618(a), Mar. 31, 1980, 94 Stat. 183; amended Pub. L. 100-583, 
Sec. 5, Nov. 3, 1988, 102 Stat. 2967.)


                               Amendments

    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)''.


                             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.