S.2542: A bill to amend the Truth in Lending Act to provide for enhanced disclosure under an open end credit plan.

A bill to amend the Truth in Lending Act to provide for enhanced disclosure under an open end credit plan. 1/22/2008--Introduced. Credit Card Minimum Payment Notification Act of 2008 - Amends the Truth in Lending Act regarding disclosures required with each billing cycle under an open end consumer credit plan to require a credit card issuer to include in specified type a written statement in the following form: "Minimum Payment Warning: Making only the minimum payment will increase the interest you pay and the time it takes to repay your balance."Prescribes additional three-line statements disclosing the length of time it will take to pay off balances and the final cost to the consumer of interest rates charged.Requires disclosure of a toll-free telephone number to obtain an estimate in person rather than a recording of the time to repay the balance making only minimum payments and the total amount of those payments.Directs the Federal Trade [...]

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