Comment for 1026.3 - Exempt Transactions
circumstances, the account is not exempt under § 1026.3(b) based on the $30,000 initial extension of credit
- 1026 (Regulation Z)
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circumstances, the account is not exempt under § 1026.3(b) based on the $30,000 initial extension of credit
Issuers of credit card accounts under an open-end (not home-secured) consumer credit plan are subject
Table or schedule if credit terms depend on outstanding balance.
In a credit sale transaction, the total sale price must be disclosed using that term, along with a descriptive
employee of a manufactured home retailer that “assists” a consumer in obtaining or applying for consumer credit
A card issuer may charge an over-the-limit fee or charge only if the consumer has exceeded the credit
Section 1026.32 requires certain disclosures and provides limitations for closed-end credit transactions
conditions, or features to the prepaid account when a consumer authorizes linking the prepaid card to the credit
obligation is held in the portfolio of a government-sponsored enterprise (GSE), thus the GSE holds the credit
(16) Credit sale means a sale in which the seller is a creditor.
person, other than the card issuer, who imposes a finance charge at the time of honoring a consumer's credit
(2) A reflection on or with a periodic statement of an extension of credit that is not identified in
government action to the extent that the value of the security interest is less than 120 percent of the credit
(3) Any fees or charges where the amount of the fee or charge is higher when credit is extended on the
The renewal of optional insurance added to an existing credit transaction is not a refinancing, assuming
Verify information provided by the consumer in a credit application such as by asking the consumer for
)-5.v.A, the $10 difference would be compensation for purposes of § 1026.36 if the price for a credit
A prepaid card that is solely an account number is a hybrid prepaid-credit card if it meets the conditions
), and 1026.12(e) (Prompt notification of returns and crediting of refunds), a person that honors a credit
(1) Except as provided in paragraph (a)(2) of this section, for each credit transaction involving the
(ii) Any statement of the credit terms in paragraph (d)(1) of this section appearing anywhere else in
(1) During the calendar year preceding receipt of the consumer's application, the creditor extended credit
entity to which a consumer is legally obligated, or would be legally obligated, under the terms of a credit
(ii) The credit card agreements that the card issuer offered to the public as of the last business day
(ii) The prepaid card only can access credit extended through a negative balance on the asset feature