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33 S.U. L. Rev. 313 (2005-2006)
Finance and Other Charges: Is Disclosure for the Sake of Disclosure Sufficient - Discussing the Nature of Finance and Other Charges under the Truth-in-Lending Act - Household Credit Services, Inc. v. Pfennig

handle is hein.journals/soulr33 and id is 319 raw text is: FINANCE AND OTHER CHARGES: IS DISCLOSURE FOR THE SAKE OF DISCLOSURE SUFFICIENT? DISCUSSING THE NATURE OF FINANCE AND OTHER CHARGES UNDER THE TRUTH-IN-LENDING ACT - HOUSEHOLD CREDIT SERVICES, INC. V. PFENNIG, 541 U.S. 232 (2004). NEFERTARA CLARK* AB STRACT ..................................................................................... 314 INTRODUCTION ............................................................................. 315 I. To OPEN OR CLOSE: FORMS OF CREDIT AVAILABLE TO CONSUM ERS ...................................................................... 317 What Disclosures Must be Made? .......................................... 318 II. FINANCE AND OTHER CHARGES IN OPEN-END CREDIT PLAN S ............................................................................... 320 III. INTRODUCTION TO THE TRUTH-IN-LENDING ACT ........... 321 A. The Relationship Between Congress, the FTC, FRB and TILA ........................................................................... 322 B . TILA ........................................................................... 323 C. R egulation Z ............................................................... 323 1. A Regulation of Law or Fact ................................ 323 2. Essential Disclosures ........................................... 324 D. Historical Development: TILA in its Original State. 325 IV. A FUNCTIONAL ANALYSIS OF PFENNIG ............................. 325 V. PROPOSING A CHANGE ...................................................... 328 A. Expansion of Finance Charges .................................. 329 B . C larity ........................................................................ 330 VI. CONCLUSION .................................................................... 332 You shower. You dress. You leave for a day at the mall. While there, you find an item you like. You want to purchase it, but your available line of credit is not sufficient. Many people would just leave the item and go on their way. Others would ex- * J. D. Candidate - 2007, Southern University Law Center, Baton Rouge, LA; B.S., Criminal Justice - 2004, Summa Cum Laude, Savannah State University, Savannah, GA.