Source: https://www.fdic.gov/regulations/examinations/supervisory/insights/sisum10/overview.html
Timestamp: 2017-08-19 22:24:46
Document Index: 131470081

Matched Legal Cases: ['§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226', '§226']

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Home	> Regulation & Examinations > Bank Examinations > Supervisory Insights - Summer 2010
Supervisory Insights - Summer 2010
Overview of Changes Effective February 22, 2010
Section of Regulation Z32
§226.5(a)(2)(iii)
The term fixed, or a similar term, may not be used unless the creditor specifies a time period the rate will be fixed and the rate will not increase during that period or, if no time period is provided, the rate will not increase while the plan is open.
§226.5(b)(2)(ii)
Periodic statements Reasonable procedures designed to ensure periodic statements are mailed or delivered at least 21 days before the payment due date disclosed on the statement, and payments are not treated as late for any purpose if received within 21 days after mailing or delivery of the periodic statement.
Interest grace periods Reasonable procedures designed to ensure periodic statements are mailed or delivered at least 21 days before the expiration of any interest grace period, and no finance charges are imposed if a payment satisfying the grace period is received within 21 days of mailing or delivery of the periodic statement.
§226.5(b)(2)(ii)(A)  Credit card accounts under an open-end (not home-secured) consumer credit plan
§226.5(b)(2)(ii)(B)  All open-end consumer credit plans
Due date same day of the month and disclosure of late payment costs, such as a late payment fee or increased periodic rate(s). Same day of the month can mean same calendar day (15th day) or the last day of the month.
§226.7(b)(12)
Repayment disclosures such as minimum payment warnings, repayment estimate, and a toll-free number for credit counseling services
§226.7(b)(13)
Format requirements of due date, late payment fees, and penalty rates
All open-end (not home-secured) consumer credit plans, except requirements relating to §226.7(b)(11) and (b)(12) which apply only to credit card accounts under an open-end (not home-secured) consumer credit plan
§226.9(c)(2)
Changes requiring advance notice (NOTE: the format requirements in §226.9(c)(2)(iv)(D) are effective July 1, 2010)
§226.9(e)
Renewal of credit or charge card
Credit or charge card accounts subject to §226.5a
§226.9(g)
Increase in rates due to delinquency or default or as a penalty (NOTE: §226.9(g)(3)(ii) which covers tabular format requirements is effective July 1, 2010)
§226.9(h)
Right to reject certain significant changes in terms
Credit card accounts under an open-end (not home secured) consumer credit plan
Payments including crediting, cut-off time, and payments due on dates the creditor does not receive or accept payments
§226.10(b)(3), (e), & (f) - Credit card accounts under an open-end (not home-secured) consumer credit plan
§226.11(c)
Timely settlement of estates
§226.16(f)
Use of the term fixed in advertising
§226.51
Ability to pay (opening and increasing credit limits) on credit cards
§226.52
Limitations on fees during the first year after account opening
§226.53
Allocation of payments in excess of the minimum payment
§226.54
Limitations on the imposition of finance charges  double-cycle billing
§226.55
Limitations on increasing APRs, fees, and charges
§226.56
Opt-in requirements and other limitations regarding overlimit transactions
§226.57(a), (b), & (d)
Reporting and marketing rules for college student open-end credit
§226.57(c)
Restrictions on offering college students inducements to apply for an open-end consumer credit plan
§226.58
*Refer to the regulation for a complete description and requirements.
32 Although Subpart B – Open-End Credit contains most Regulation Z provisions governing open-end credit, Subpart G – Special Rules Applicable to Credit Card Accounts and Open-end Credit Offered to College Students includes additional provisions relating to credit card accounts.
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Last Updated 07/13/2010 supervisoryjournal@fdic.gov