There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (11/01/2001)

Late Fee Relief Act - Establishes a six-month period during which consumers of financial services shall be extended a two-week grace period to make any obligatory payments. Prohibits a financial services business from: (1) imposing either a late fee or additional financing fee upon a consumer account for failure to make payment by the due date, unless a payment is not received by the end of the two-week grace period; or (2) providing any information adverse to the consumer or the consumer's credit status as a result of such payment failure before the two-week grace period.

States that this Act shall be enforced under the Truth in Lending Act.