Comment for 1026.40 - Requirements for Home-Equity Plans
Creditors may provide, based on a typical or representative amount of credit, a range for such fees or
- 1026 (Regulation Z)
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Creditors may provide, based on a typical or representative amount of credit, a range for such fees or
In considering an application or credit line increase on the credit card account of a consumer who is
Converting open-end to closed-end credit.
If a balance is transferred to a credit card account under an open-end (not home-secured) consumer credit
(7) Card issuer means a person that issues a credit card or that person's agent with respect to the card
(2) Charges for actual unanticipated late payment, for exceeding a credit limit, or for delinquency,
Any fee imposed for an extension of credit in the form of cash or its equivalent.
There is fraud or material misrepresentation by the consumer in connection with the loan or open-end credit
(iii) Does not include open-end credit or any loan that is secured by real property or a dwelling; and
Any fee imposed for an extension of credit in the form of cash or its equivalent.
(i) Credit offered in connection with a prepaid account is subject to this section and this regulation
For purposes of this section and other provisions in the regulation that relate to hybrid prepaid-credit
A finance charge imposed for the credit.
Creditors have flexibility in handling credit extensions that may be viewed as multiple transactions.
(D) Whether or not a grace period is given within which any credit extended by use of the checks may
(i) Closed-end credit transactions.
Treatment of transaction fees on credit card plans.
not charges imposed as part of the plan under § 1026.6(b)(3) with respect to covered separate credit
Assume that the terms of a home-equity line of credit with an initial credit limit of $10,000 and a ten-year
A credit report may be used to verify current obligations.
of offering, arranging, or assisting a consumer in obtaining or applying to obtain an extension of credit
Suspension of credit privileges following request by consumer.
When two or more consumers apply for an extension of credit as joint obligors with primary liability
If a credit card account under an open-end (not home-secured) consumer credit plan with a balance is
If, through merger or acquisition (for example), a card issuer acquires a credit card account under an