Comment for 1026.43 - Minimum Standards for Transactions Secured by a Dwelling
Subject to closed-end credit rules.
- 1026 (Regulation Z)
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Subject to closed-end credit rules.
If a prepaid card is capable of drawing or transferring credit, or authorizing either, from a separate
(1) The credit risk of the refinancing is retained by the person that held the credit risk of the existing
If the exception in § 1026.61(a)(5)(iii)(D) applies, a person that can extend credit through the
(c) Projected total cost of credit.
Credit in connection with a prepaid card.
Generally describing the credit application process to a consumer without advising on credit terms available
The date on which the credit was extended and the original amount of the loan or credit line.
(5) The card issuer applies the same specified terms and conditions to the credit card account when a
Increases in credit limit.
For purposes of closed-end credit, the creditor counts each credit transaction.
(iv) Premiums or other charges payable at or before account opening for any credit life, credit disability
For purposes of this section, an account is an “open account” or “open credit card account” if it is
If a prepaid card can access a non-covered separate credit feature as described in § 1026.61(a)(
This criterion does not mean that the creditor must establish a specific credit limit for the line of
A consumer uses a hybrid prepaid-credit card as defined in § 1026.61 to make a purchase to obtain
The agreement is offered for private label credit card accounts with credit cards usable only at Merchant
(vi) Prohibit additional extensions of credit or reduce the credit limit applicable to an agreement during
Creditors that must disclose the amount of available credit must state the initial credit limit provided
A credit card account with a balance is replaced or substituted with another credit card account offering
(2) Subpart B contains the rules for open-end credit.
(B) A separate credit feature that meets the conditions set forth in paragraph (a)(2)(i)(A) of this section
charge described in paragraphs (b)(1) through (10) of this section imposed on the covered separate credit
For purposes of this section, the term “over-the-limit transaction” means any extension of credit by
Replacing a single card that is both a prepaid card and a credit card with a credit card and a separate