§ 2463 - Credit billing for certain home solicitation sales - Vermont Statutes

§ 2463. Credit billing for certain home solicitation sales

In the case of any home solicitation sale solicited or consummated by a seller in whole or in part by telephone that is paid for by means of an open-end consumer credit plan within the meaning of the federal Truth-in-Lending Act, 15 U.S.C. § 1601 et seq., the issuer of the credit card on which the consumer has charged the purchase shall, for three years from the date of the sale, be subject to the claim or defense that the seller failed to comply with the disclosure requirements of section 2454(b) of this chapter, regardless of the amount of the purchase, the location of the seller, or the amount, if any, already paid by the consumer. The issuer of the credit card shall not be liable for amounts already paid by the consumer and not reimbursed by the seller or the seller's merchant bank. Where a consumer has raised such a claim or defense, the issuer shall not report any negative information on the purchase to any consumer reporting agency as defined in the Fair Credit Reporting Act, 15 U.S.C. § 1681a(f), unless there is a judicial determination that the consumer's defense or claim is without merit, except that the issuer may report that there is a dispute with respect to the charge. (Added 1993, No. 99, § 4.)