Comment for 1026.2 - Definitions and Rules of Construction
of rescission, even if A is not liable, either primarily or secondarily, on the underlying consumer credit
- 1026 (Regulation Z)
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of rescission, even if A is not liable, either primarily or secondarily, on the underlying consumer credit
For example, a consumer may use a credit card to make a purchase in Bermuda, in U.S. dollars, and the
1026.9(d), a card issuer is not obligated to disclose finance charges imposed by a party honoring a credit
written in connection with” the transaction, as long as the insurance was not purchased for use in that credit
Creditors may use the model credit insurance disclosures only if the debt cancellation or debt suspension
imposed, such as minimum, fixed, transaction, and activity charges; required insurance; or appraisal or credit
example of how to comply with the requirements in § 1026.9(g)(3)(i) when the rate on a consumer's credit
In-person payments on credit card accounts.
A card issuer permanently closes a local branch office at which payments are accepted on credit card
A consumer has elected to make payments automatically to a credit card account, such as through a payroll
claim in those proceedings, and may instead file a claim for the property or service purchased with the credit
aspect of the error resolution process (including charges for documentation or investigation) and must credit
through the Internet (rather than by radio or television) that states that the advertised extension of credit
Typical examples are real estate settlement charges and premiums for voluntary credit life and disability
creditor may provide either a standard example that illustrates the terms and conditions of that type of credit
(Creditors should be aware, however, that the Federal credit practices rules, as well as some state laws
What length of time is reasonable will depend on what changes to a loan or credit plan's documentation
Section 1026.32(a)(3)(ii) applies in the case of a closed- or open-end credit transaction when the interest
rely on the rules set forth in § 1026.18(g); however, the amounts for voluntary items, such as credit
in obtaining or applying to obtain, negotiate, or otherwise obtain or make a particular extension of credit
profits are determined with reference to the creditor's revenue from origination of closed-end consumer credit
effectively waives its security interest under the spreader clause with respect to the subsequent open-end credit
Assume that a credit card account has a cash advance balance of $100 at an annual percentage rate of
publicly disclose any contract or other agreement made with a card issuer for the purpose of marketing a credit
In contrast, if a consumer is physically present in the card issuer's office, and accesses a credit card