Cash Discount Act 1981

Law Financial services Law

Date: 23rd Nov, 2024 Source: Congress.gov Country: USA Original Source

Brief

The Cash Discount Act was enacted on July 27, 1981, to encourage cash discounts and amend the Truth in Lending Act. The law permits sellers to offer discounts for cash payments as long as they are disclosed clearly and conspicuously. It also nullifies any rules or regulations of the Federal Reserve System that contradict this provision. Additionally, the law requires a study on the effects of credit card transactions and provides miscellaneous amendments to other laws.

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