Comment for 1026.42 - Valuation Independence
Open- and closed-end credit.
- 1026 (Regulation Z)
 
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Open- and closed-end credit.
For purposes of § 1026.61(a)(5)(iii)(D), “specified terms and conditions” on a credit card account
The requirements of § 1026.43(c) through (f) do not apply to an extension of credit made pursuant
Under § 1026.61(a)(2)(i), a prepaid card is a hybrid prepaid-credit card when the card can be used
issuer is not a card issuer under § 1026.2(a)(7) with respect to the prepaid card when it accesses credit
Minimum monthly charges, charges for non-use of a credit card, and other charges based on either account
consumer's ability to draw on an open-end account is terminated without being converted to closed-end credit
The consumer purchases a $3 cup of coffee using his credit card.
For purposes of this section, a credit card agreement is deemed to include certain information, such
The definition of open account includes a credit card account under an open-end (not home-secured) consumer
(c) Public utility credit.
(ii) In the case of a home equity line of credit subject to § 1026.40, a creditor or mortgage broker
a refund is provided pursuant to § 1026.19(f)(2)(v), a statement that this amount includes a credit
Under the subheading “Tax Deductions,” a statement that, if the extension of credit exceeds the fair
of this section, a card issuer may impose a fee for violating the terms or other requirements of a credit
A card issuer must not impose a fee for violating the terms or other requirements of a credit card account
The creditor makes a firm written commitment at account opening to extend a total amount of credit in
finance charge under § 1026.4(c)(1), a mortgage broker must charge the fee to all applicants for credit
Except for extensions of credit covered by § 1026.19(a) or (e) and (f), the creditor may delay the
If the terms of an open-end credit plan permit a consumer to draw on the credit line using either a variable-rate
If not prohibited by state law, a creditor may collect only bona fide and reasonable appraisal and credit
Access to credit.
limitations stated in paragraph (c)(3)(i)(B) of this section shall not apply when the person honoring the credit
The consumer requests revisions to the credit terms or the settlement that cause an estimated charge
The home equity brochure entitled “What You Should Know About Home Equity Lines of Credit” or a suitable