94 STAT. 180
Repeal.
PUBLIC LAW 96-221—MAR. 31, 1980 "(2) If a creditor receives a request for a loan by mail or telephone without personal solicitation and the terms of financing, including the annual percentage rate for representative amounts of credit, are set forth in the creditor's printed material distributed to the public, or in the contract of loan or other printed material delivered to the obligor, then the disclosures required under subsection (a) may be made at any time not later than the date the first payment is due.". (d)(1) Section 129 of the Truth in Lending Act (15 U.S.C. 1639) is hereby repealed. (2) The table of sections at the beginning of chapter 2 of the Truth in Lending Act is amended by striking out the item relating to section 129 and inserting in lieu thereof the following: "129. [Repealed].".
Repeal.
(e)(1) Section 126 of the Truth in Lending Act (15 U.S.C. 1636) is hereby repealed. (2) The table of sections at the beginning of chapter 2 of the Truth in Lending Act is amended by striking out the item relating to section 126 and inserting in lieu thereof the following: "126. [Repealed].".
(f)(1) The table of sections at the beginning of chapter 2 of the Truth in Lending Act is amended by striking out the item relating to section 128 and inserting in lieu thereof the following: "128. Consumer credit not under open end credit plans.".
(2) The section heading for section 128 of the Truth in Lending Act (15 U.S.C. 1638) is amended by striking out "SALES" and inserting in lieu thereof "CONSUMER CREDIT". CIVIL LIABILITY
15 USC 1635.
15 USC 1607, 1611. 15 USC 1631 et seq., 1667 et seq. Ante, p. 171.
15 USC 1635.
SEC. 615. (a) Section 130 of the Truth in Lending Act (15 U.S.C. 1640) is amended— (1) in subsection (a)(2)(B), by striking out "in such action" and inserting in lieu thereof "under this subparagraph in any class action or series of class actions arising out of the same failure to comply by the same creditor"; (2) in subsection (a)(3), by inserting "or in any action in which a person is determined to have a right of rescission under section 125" after "liability"; (3) by amending subsections (b), (c), and (d) to read as follows: "(b) A creditor or assignee has no liability under this section or section 108 or section 112 for any failure to comply with any requirement imposed under this chapter or chapter 5, if within sixty days after discovering an error, whether pursuant to a final written examination report or notice issued under section 108(e)(1) or through the creditor's or assignee's own procedures, and prior to the institution of an action under this section or the receipt of written notice of the error from the obligor, the creditor or assignee notifies the person concerned of the error and makes whatever adjustments in the appropriate account are necessary to assure that the person will not be required to pay an amount in excess of the charge actually disclosed, or the dollar equivalent of the annual percentage rate actually disclosed, whichever is lower. "(c) A creditor or assignee may not be held liable in any action brought under this section or section 125 for a violation of this title if the creditor or assignee shows by a preponderance of evidence that the violation was not intentional and resulted from a bona fide error notwithstanding the maintenance of procedures reasonably adapted
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