Comment for 1026.61 - Hybrid Prepaid-Credit Cards
In this case, the hybrid prepaid-credit card can access both the covered separate credit feature and
- 1026 (Regulation Z)
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In this case, the hybrid prepaid-credit card can access both the covered separate credit feature and
.* Assume that, at account opening on January 1 of year one, the card issuer discloses the following
U.S.C. app. 527 or a similar Federal or state statute or regulation, § 1026.55(b)(6) permits the card
When calculating the savings estimate for repayment in 36 months, if a card issuer chooses under §
repayment in 36 months must be rounded either to the nearest whole dollar or to the nearest cent, at the card
repayment in 36 months must be rounded either to the nearest whole dollar or to the nearest cent, at the card
If a change described in paragraph (f)(1) of this section occurs, the card issuer shall provide the cardholder
A card issuer must waive or rebate any additional finance charge due to a periodic interest rate if payment
(B) That the increased annual percentage rate, fee, or charge will cease to apply if the card issuer
that did not previously qualify for the product testing exception qualifies for the exception, the card
liability for unauthorized use, a cardholder includes any person, including an organization, to whom a card
purposes of this provision, cardholder includes any person (including organizations) to whom a credit card
However, a card issuer is not prohibited from continuing to impose a periodic fee that was imposed before
Section 1026.56(j)(1) generally prohibits a card issuer from assessing a fee or charge due to the same
account in the course of authorizing, settling, or otherwise completing transactions conducted with the card
account in the course of authorizing, settling, or otherwise completing transactions conducted with the card
rate required to be disclosed pursuant to paragraph (b)(3)(i) of this section is a variable rate, the card
been decreased pursuant to 50 U.S.C. app. 527 or a similar Federal or state statute or regulation, a card
A card issuer may at its option provide through the toll-free number disclosed pursuant to § 1026.7
in § 1026.9(c)(2)(iv) when a variable rate is being changed to a non-variable rate on a credit card
In addition, state laws regulating the terms of credit and charge card accounts are not preempted, nor
On March 30, the card issuer receives a $50 payment and the required minimum periodic payments for the
Assume that a credit card account has a $500 cash advance balance at an annual percentage rate of 25%
Assume that a card issuer discloses at account opening on January 1 of year one that a non-variable annual
With respect to a covered separate credit feature accessible by a hybrid prepaid-credit card as defined