THtr ARIZONA SGtrNtr

By FRANK DA executive vice president

THE Arizona members should be I aware of the Fair Credit Billing Provisions of the Truth In Lending Act. This bill became effective October 28.

Covered is the Open End Creditor. It is he or she who extends credit to a customer to make purchases or obtain loans directly from the dealer and/or indirectly through the use of credit card, check, or other device.

The purpose of the new law is to give consumers an opportunity to react to billing errors and to attempt to reduce such errors on the part of businesses.

The following must be done within the first billing cycle after the regulations go into effect

(A) All accounts on the books having in excess of a $l credit or debit must receive a copy of the long form "Notice" of billing error rights.

(B) All changes of address received by a dealer must be recorded within l0 days after receipt. All payments must be credited on the date of receipt or, if paid at a location different than where the purchase was made, within 5 days.

(C) If a dealer desires to use the short form on the back of his billing statements, then he must prepare new invoices with the required language which, in essence, tells the customer that the long form of billing error rights can be obtained from the dealer.

(D) You may use your existing billing statements through April 30th, l976,but those statements must be altered to include the words, "Notice: See accompanying statement for important information regarding your right to dispute billing errors." This notice can be typed, hand written or rubber stamped on the billing statement.

Arizona dealers will be sent full details of the regulations so they will be in compliance.

Cut-Rate Lumber Inc. Phoenix, is a new member of our association.

By ROSS KINCAID executive director

T HE Fair Credit Billing Act is an I amendment to the Truth-InLending Law and became effective October 28.

The provisions of this act aPPIY only to consumer credit, not credit to contractors, builders, commercial and industrial accounts.

In our opinion, until further clarification by the Federal Reserve Board is received, a dealer is covered by this Act if:

( I ) He extends consumer credit through his own credit card.

(2) He makes available to consumers revolving credit accounts.

(3) He permits a charge Purchaseby a 30day oPen account it a service charge has been made because it is past due (this account then becomes a revolving account).

On Consumer Product WarrantY Regulations, National has advised us that the Federal Trade Commission has completed hearings on Warranty Regulations. However, it is very likely the final regulations will not be published until some time after January l. The National staff has been working with the American Retail Federation and other organizations in an effort to get the best possible regulations.

The Senate Commerce Committee is considering the House-passed Metric Bill (H.R. 8674) as well as the Administration-requested Metric Bill (S. 1882) and Senator Pell's Bill (S. 100).

All of these bills would create a Metric Board to coordinate conversion to the Metric System. The House Bill and the Administration's Senate Bill are without target dates or subsidies for the conversion. The Pell bill makes amandatory changeover to metric over a ten year period.

The Transportation & Materials Handling Committee of National has developed a Forklift Training Program in kit form. It is designed to serve lumber dealers as a complete training course for new employees and as a refresher cotrrse for veteran forklift operators.

It meets OSHA regulations which require lift truck operator training, and the owner/managers maintain and conduct such a program. The basic training kit includes one instructor's training manual, 5 driver training manuals, 5 completion certificates and 5 identification cards. Cost of the kit is $25. It may be ordered through the WBMA office.