Definitions and rules of construction.

CFR · 2024-01-01 · US · Title 12

(a) (1) (2) (3) [Reserved] (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15)(i) (ii) (A) A home-equity plan subject to the requirements of § 226.5b that is accessed by a credit card; or (B) An overdraft line of credit that is accessed by a debit card or an account number. (iii) (16) (i) Agrees to pay as compensation for use a sum substantially equivalent to, or in excess of, the total value of the property and service involved; and (ii) Will become (or has the option to become), for no additional consideration or for nominal consideration, the owner of the property upon compliance with the agreement. (17) (i) A person who regularly extends consumer credit (ii) For purposes of §§ 226.4(c)(8) (Discounts), 226.9(d) (Finance charge imposed at time of transaction), and 226.12(e) (Prompt notification of returns and crediting of refunds), a person that honors a credit card. (iii) For purposes of subpart B, any card issuer that extends either open-end credit or credit that is not subject to a finance charge and is not payable by written agreement in more than four installments. (iv) For purposes of subpart B (except for the credit and charge card disclosures contained in §§ 226.5a and 226.9(e) and (f), the finance charge disclosures contained in § 226.6(a)(1) and (b)(3)(i) and § 226.7(a)(4) through (7) and (b)(4) through (6) and the right of rescission set forth in § 226.15) and subpart C, any card issuer that extends closed-end credit that is subject to a finance charge or is pa

official document · source cfr-2024 · id 12:§ 226.2