Comment for 1026.60 - Credit and Charge Card Applications and Solicitations
for a car loan at a financial institution and the loan officer invites the consumer to apply for a credit
- 1026 (Regulation Z)
Search for terms in the sections, interpretations, and appendices in the Bureau regulations we currently have online.
for a car loan at a financial institution and the loan officer invites the consumer to apply for a credit
means the submission of a consumer's financial information for purposes of obtaining an extension of credit
If a creditor terminates or suspends credit availability based on a consumer's rejection of a significant
Disclosures provided on credit contracts.
permitted creditors to omit from the disclosures the terms set forth in that paragraph at the time the credit
Credit balance.
An advertisement for credit secured by a dwelling may not state a periodic rate, other than a simple
For example, if a State's law covers agricultural credit, this will not prevent the Bureau from granting
Assume that, under the terms of a home-equity line of credit with an initial credit limit of $150,000
Assisting a consumer in obtaining or applying for consumer credit by advising on particular credit terms
However, if the credit is attributable to a specific closing cost listed in the Closing Cost Details
that has a policy and practice of declining to pay any over-the-limit transactions for the consumer's credit
An extension of credit to a participant in an employer-sponsored retirement plan qualified under section
documentary evidence; a reduction of any component of a finance or other charge; suspension of future credit
(ii) Open-end credit.
or place them in the mail no later than three business days after the consumer has applied for the credit
for one or more events specified in the account agreement, such as a late payment or an extension of credit
Unauthorized Use Model Clause (Home-Equity Plans) You may be liable for the unauthorized use of your credit
Each type of other charge (such as late-payment charges, over-the-credit-limit charges, and membership
consists of a monthly periodic interest rate of 1.5% applied to the outstanding balance and a required credit
terms that are required to be disclosed pursuant to § 1026.9(b)(3)(i) for the checks that access a credit
For example, a consumer may open an account with a $10,000 credit limit, $5,000 of which is initially
cross-collateralization clause), subsequent occurrences such as the opening of a plan or individual credit
If an open-end credit plan has only a fixed rate during the draw period, a creditor must use the interest
1026.35(c)(2)(vii)(A)(1) if the loan will be acquired pursuant to a forward commitment, such that the credit