94 STAT. 184
PUBLIC LAW 96-221—MAR. 31, 1980 CORRECTION OF BILUNG ERRORS
SEC. 620. (a) Section 161(b) of the Truth in Lending Act (15 U.S.C. 16660t))) is amended— (1) by redesignating paragraph (6) as paragraph (7); and (2) by inserting after paragraph (5) the following: "(6) Failure to transmit the statement required under section 127(b) of this Act to the last address of the obligor which has been disclosed to the creditor, unless that address was furnished less than twenty days before the end of the billing cycle for which the statement is required.". Ob) Section 161(c) of the Truth in Lending Act (15 U.S.C. 1666(c)) is amended by inserting ", which may include finance charges on amounts in dispute," after "of statements of account". CREDIT BALANCES
SEC. 621. (a) Section 165 of the Truth in Lending Act (15 U.S.C. 1666d) is amended to read as follows: "§ 165. Treatment of credit balances "Whenever a credit balance in excess of $1 is created in connection with a consumer credit transaction through (1) transmittal of funds to a creditor in excess of the total balance due on an account, (2) rebates of unearned finance charges or insurance premiums, or (3) amounts otherwise owed to or held for the benefit of an obligor, the creditor shall— "(A) credit the amount of the credit balance to the consumer's account; "(B) refund any part of the amount of the remaining credit balance, upon request of the consumer; and "(C) make a good faith effort to refund to the consumer by cash, check, or money order any part of the amount of the credit balance remaining in the account for more than six months, except that no further action is required in any case in which the consumer's current location is not known by the creditor and cannot be traced through the consumer's last known address or telephone number.". (b) The table of sections at the beginning of chapter 4 of the Truth in Lending Act is amended by striking out the item relating to section 165 and inserting in lieu thereof the following: "165. Treatment of credit balances.". GOVERNMENT EXEMPTION
SEC. 622. (a) Section 113 of the Truth in Lending Act (15 U.S.C. 1612) is amended to read as follows: "§113. Effect on governmental agencies "(a) Any department or agency of the United States which administers a credit program in which it extends, insures, or guarantees consumer credit and in which it provides instruments to a cieditor which contain any disclosures required by this title shall, prior to the issuance or continued use of such instruments, consult with the Board to assure that such instruments comply with this title. "(b) No civil or criminal penalty provided under this title for any violation thereof may be imposed upon the United States or any
�
