123STA T . 1 745PUBLIC LA W 111 – 24 —M A Y 22 , 2 0 0 9‘ ‘ (i i )the ite msr e qu ire d t ob ei ncl uded in the t a ble shall be listed in the order in w hich such items are set f orth in sub p ara g raph ( B ) . ‘‘( G ) I n prescribing the form of the table under subpara - graph ( D ) , the Board shall emplo y terminology which is dif- ferent than the terminology which is employed in subparagraph (B), if such terminology is more easily understood and con v eys substantially the same meaning. ’ ’. (b) CIV I LL I AB ILI TY . —S ection 130 (a) of the T ruth in Lending A ct (1 5U .S.C. 1 64 0(a)) is amended, in the undesignated paragraph following paragraph (4), by stri k ing the second sentence and inserting the following
‘‘In connection with the disclosures referred to in subsections (a) and (b) of section 1 27 , a creditor shall have a liability determined under paragraph (2) only for failing to comply with the requirements of section 125, 127(a), or any of paragraphs (4) through (13) of section 127(b), or for failing to comply with disclosure requirements under State law for any term or item that the Board has determined to be substantially the same in meaning under section 111(a)(2) as any of the terms or items referred to in section 127(a), or any of paragraphs (4) through (13) of section 127(b).’’. (c) G U I DE LI N E SR E Q UI R ED.— (1) IN G ENERAL.— N ot later than 6 months after the date of enactment of this Act, the Board shall issue guidelines, by rule, in consultation with the Secretary of the Treasury, for the establishment and maintenance by creditors of a toll- free telephone number for purposes of providing information about accessing credit counseling and debt management serv- ices, as required under section 127(b)(11)(B)(iv) of the Truth in Lending Act, as added by this section. (2) A P PR O VED AGEN C IES.—Guidelines issued under this sub- section shall ensure that referrals provided by the toll-free number referred to in paragraph (1) include only those nonprofit budget and credit counseling agencies approved by a United States bankruptcy trustee pursuant to section 111(a) of title 11, United States Code. SEC.20 2. R E QUI RE M E NT SRE LA TIN G T O LATE P A Y MENT D EADLINES AND PENALTIES. Section 127(b)(12) of the Truth in Lending Act (15 U.S.C. 1637(b)(12)) is amended to read as follows: ‘‘(12) REQUIRE M ENTS RELATING TO LATE PAYMENT DEAD- LINES AND PENALTIES.— ‘‘(A) LATE PAYMENT DEADLINE REQUIRED TO BE DIS- CLOSED.—In the case of a credit card account under an open end consumer credit plan under which a late fee or charge may be imposed due to the failure of the obligor to make payment on or before the due date for such pay- ment, the periodic statement required under subsection (b) with respect to the account shall include, in a con- spicuous location on the billing statement, the date on which the payment is due or, if different, the date on which a late payment fee will be charged, together with the amount of the fee or charge to be imposed if payment is made after that date. ‘‘(B) DISCLOSURE O F INCREASE IN INTEREST RATES FOR LATE PAYMENTS.—If 1 or more late payments under an Notice.D e adl i n e. C o m m u nication s and tele - communications. 15US C1 637 note.
