Comment for 1026.61 - Hybrid Prepaid-Credit Cards
for opening, issuing, or holding a negative balance on the asset feature, or for the availability of credit
- 1026 (Regulation Z)
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for opening, issuing, or holding a negative balance on the asset feature, or for the availability of credit
laws, state exemptions and issuance of official interpretations, special rules for certain kinds of credit
(i) Voluntary credit insurance, debt cancellation or debt suspension.
to the Bureau to exempt a class of transactions within the state from the requirements of chapter 2 (Credit
(iii) For a transaction in which the interest rate may or will vary during the term of the loan or credit
(iii) For purposes of paragraph (c)(2)(vi) of this section, if a creditor relies on a consumer's credit
section, a card issuer must not impose finance charges as a result of the loss of a grace period on a credit
Except as provided in paragraph (a)(4) of this section, a prepaid card is a hybrid prepaid-credit card
Business partner means a person (other than the prepaid account issuer or its affiliates) that can extend credit
a starting point in computing the amount financed and the total sale price under § 1026.18 for credit
The creditor makes a commitment at consummation to extend a total amount of credit in excess of the threshold
charge is imposed for each item that results in an overdraft on an account with an overdraft line of credit
prepaid account are not finance charges under § 1026.4 with respect to the non-covered separate credit
Sections 1026.12(a) and (b) deal with the issuance and liability rules for credit cards, whether the
unavailable funds in the asset feature of the prepaid account at the time the transaction is initiated and credit
The premium may be disclosed on a unit-cost basis only in open-end credit transactions, closed-end credit
(i) Except as provided in paragraph (a)(1)(ii) of this section, in a credit plan in which a security
paragraph (a)(2) of this section, the total amount of fees a consumer is required to pay with respect to a credit
Initial extension of credit.
Assume that the terms of a home-equity line of credit with an initial credit limit of $10,000 require
When the consumer receives a generalized credit from the seller for closing costs or where the seller
provides that, with respect to an agreement offered solely for accounts under one or more private label credit
The card issuer structures the credit card account as a “charge card account” (where no periodic rate
(14) Credit means the right to defer payment of debt or to incur debt and defer its payment.
(A) A home-equity plan subject to the requirements of § 1026.40 that is accessed by a credit card