U.S. Code > Title 15 Commerce and Trade > CHAPTER 41—CONSUMER CREDIT PROTECTION (§§ 1601—1693r) > SUBCHAPTER I—CONSUMER CREDIT COST DISCLOSURE (§§ 1601—1667f) > Part B—Credit Transactions (§§ 1631—1651) > § 1646. Dissemination of annual percentage rates; implementation, etc.

§ 1646. Dissemination of annual percentage rates; implementation, etc.

(a) Annual percentage rates
The Board shall collect, publish, and disseminate to the public, on a demonstration basis in a number of standard metropolitan statistical areas to be determined by the Board, the annual percentage rates charged for representative types of nonsale credit by creditors in such areas. For the purpose of this section, the Board is authorized to require creditors in such areas to furnish information necessary for the Board to collect, publish, and disseminate such information.
(b) Credit card price and availability information
(1) Collection required
The Board shall collect, on a semiannual basis, credit card price and availability information, including the information required to be disclosed under section 1637 (c) of this title, from a broad sample of financial institutions which offer credit card services.
(2) Sample requirements
The broad sample of financial institutions required under paragraph (1) shall include—
(A) the 25 largest issuers of credit cards; and
(B) not less than 125 additional financial institutions selected by the Board in a manner that ensures—
(i) an equitable geographical distribution within the sample; and
(ii) the representation of a wide spectrum of institutions within the sample.
(3) Report of information from sample
Each financial institution in the broad sample established pursuant to paragraph (2) shall report the information to the Board in accordance with such regulations or orders as the Board may prescribe.
(4) Public availability of collected information; report to Congress
The Board shall—
(A) make the information collected pursuant to this subsection available to the public upon request; and
(B) report such information semiannually to Congress.
(c) Implementation
The Board is authorized to enter into contracts or other arrangements with appropriate persons, organizations, or State agencies to carry out its functions under subsections (a) and (b) of this section and to furnish financial assistance in support thereof.