Consumer Credit Disclosure Act of 2003

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Apr 10, 2003

Consumer Credit Disclosure Act of 2003 - Amends the the Truth in Lending Act to require enhanced disclosures under an open end consumer credit plan about repayment information applicable to the outstanding balance, including: (1) the required minimum monthly payment on that balance, represented as both a dollar figure and as a percentage of that balance; (2) the number of months (rounded to the nearest month) that it would take to pay the entire amount of that balance, if the consumer pays only the required minimum monthly payments and if no further advances are made; (3) the total cost to the consumer, including interest and principal payments, of paying that balance in full, if the consumer pays only the required minimum monthly payments and if no further advances are made; and (4) the monthly payment amount that would be required for the consumer to eliminate the outstanding balance in 36 months if no further advances are made.

Read the summary on Congress.gov

PlainBill analysis is coming later. This page presents official source data. We have not yet published a PlainBill explanation for this bill.

People & committees

Who introduced it

Rep. McGovern, James P. [D-MA-3] · D–MA

Committees

Financial Services Committee

9 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Apr 29, 2003
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Apr 10, 2003
Referred to the House Committee on Financial Services.
Apr 10, 2003
Introduced in House
Apr 10, 2003
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Apr 10, 2003 Formatted Text PDF

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Aug 18, 2025. Consult Congress.gov for the current record.

AI Conversation Starters

Explore the bill from different angles

Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.

Neutral evidence review

Objective

Analyze H.R.1747 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

View full prompt & sources

Discuss H.R.1747, 108th Congress: Consumer Credit Disclosure Act of 2003

Official record: https://www.congress.gov/bill/108th-congress/house-bill/1747

Text version to examine: Introduced in House · 2003-04-10.

Official full text: https://www.congress.gov/108/bills/hr1747/BILLS-108hr1747ih.htm

Imported record last updated by the source: 2025-08-18T19:03:54Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.1747 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.1747 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss H.R.1747, 108th Congress: Consumer Credit Disclosure Act of 2003

Official record: https://www.congress.gov/bill/108th-congress/house-bill/1747

Text version to examine: Introduced in House · 2003-04-10.

Official full text: https://www.congress.gov/108/bills/hr1747/BILLS-108hr1747ih.htm

Imported record last updated by the source: 2025-08-18T19:03:54Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.1747 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.1747 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.1747, 108th Congress: Consumer Credit Disclosure Act of 2003

Official record: https://www.congress.gov/bill/108th-congress/house-bill/1747

Text version to examine: Introduced in House · 2003-04-10.

Official full text: https://www.congress.gov/108/bills/hr1747/BILLS-108hr1747ih.htm

Imported record last updated by the source: 2025-08-18T19:03:54Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.1747 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.1747 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.1747, 108th Congress: Consumer Credit Disclosure Act of 2003

Official record: https://www.congress.gov/bill/108th-congress/house-bill/1747

Text version to examine: Introduced in House · 2003-04-10.

Official full text: https://www.congress.gov/108/bills/hr1747/BILLS-108hr1747ih.htm

Imported record last updated by the source: 2025-08-18T19:03:54Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.1747 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.