§ 1666c. —  Prompt crediting of payments; imposition of finance charge.

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From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 15USC1666c]

 
                      TITLE 15--COMMERCE AND TRADE
 
                 CHAPTER 41--CONSUMER CREDIT PROTECTION
 
              SUBCHAPTER I--CONSUMER CREDIT COST DISCLOSURE
 
                         Part D--Credit Billing
 
Sec. 1666c. Prompt crediting of payments; imposition of finance 
        charge
        
    Payments received from an obligor under an open end consumer credit 
plan by the creditor shall be posted promptly to the obligor's account 
as specified in regulations of the Board. Such regulations shall prevent 
a finance charge from being imposed on any obligor if the creditor has 
received the obligor's payment in readily identifiable form in the 
amount, manner, location, and time indicated by the creditor to avoid 
the imposition thereof.

(Pub. L. 90-321, title I, Sec. 164, as added Pub. L. 93-495, title III, 
Sec. 306, Oct. 28, 1974, 88 Stat. 1514.)