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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 09, 1969
Page
13
Washington AP describes new federal truth in lending rules for store credit. It outlines open end plans and non open end loans, required disclosures, annual percentage rate, finance charges, payment amounts and due dates, and how advertising must state costs and terms.
Spain seals the route to Gibraltar at midnight as Franco's government presses retaliation for a new British Gibraltar constitution. The move bars foreigners from visiting the Rock for 48 hours, threatens tourism and shipping revenue, and pushes Gibraltar to assess overtime labor and possible influx of Moroccan and Maltese workers. The British government pledges assistance while urging calm in a tense Mediterranean standoff.
Explanation of the new credit cost law outlines what counts as finance charges, exemptions, and how costs must be disclosed by creditors including banks and retailers. It notes Regulation 2 guidance from the Fed and FTC enforcement expectations, with Q and A on APR, costs excluded, and open end credit definitions.
A rapid house fire in Parkersburg West Virginia killed Mr and Mrs Charles Bailey and ten of their twelve children. Fire inspectors described the destruction as total with bodies removed from every room in the six room home. Two teenagers helped their grandfather to safety and sought help at a nearby restaurant. Three family members escaped unharmed.
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