Requirements for over-the-limit transactions.

CFR · 2024-01-01 · US · Title 12

(a) (b) (i) Provides the consumer with an oral, written or electronic notice, segregated from all other information, describing the consumer's right to affirmatively consent, or opt in, to the card issuer's payment of an over-the-limit transaction; (ii) Provides a reasonable opportunity for the consumer to affirmatively consent, or opt in, to the card issuer's payment of over-the-limit transactions; (iii) Obtains the consumer's affirmative consent, or opt-in, to the card issuer's payment of such transactions; (iv) Provides the consumer with confirmation of the consumer's consent in writing, or if the consumer agrees, electronically; and (v) Provides the consumer notice in writing of the right to revoke that consent following the assessment of an over-the-limit fee or charge. (2) (c) (d) (ii) (2) (3) (e) (i) (ii) (iii) (2) (3) (f) (g) (h) (i) (j) (1) (ii) (2) (3) (4)

official document · source cfr-2024 · id 12:§ 226.56