Duties of users making written firm offers of credit or insurance based on information contained in consumer files.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) (i) A layered format as described in paragraph (c) of this section; (ii) Plain language designed to be understood by ordinary consumers; and (iii) Use of clear and concise sentences, paragraphs, and sections. (iv) Examples. For purposes of this part, examples of factors to be considered in determining whether a statement is in plain language and uses clear and concise sentences, paragraphs, and sections include: (A) Use of short explanatory sentences; (B) Use of definite, concrete, everyday words; (C) Use of active voice; (D) Avoidance of multiple negatives; (E) Avoidance of legal and technical business terminology; (F) Avoidance of explanations that are imprecise and reasonably subject to different interpretations; and (G) Use of language that is not misleading. (2) (c) (1) (i) (ii) (A) In a type size that is larger than the type size of the principal text on the same page, but in no event smaller than 12 point type, or if provided by electronic means, then reasonable steps shall be taken to ensure that the type size is larger than the type size of the principal text on the same page; (B) On the front side of the first page of the principal promotional document in the solicitation, or, if provided electronically, on the same page and in close proximity to the principal marketing message; (C) Located on the page and in a format so that the statement is distinct from other text, such as inside a border; and (D) In a type style that is distinct from the principal ty

official document · source cfr-2024 · id 12:§ 1022.54