Periodic statement.

CFR · 2024-01-01 · US · Title 12

The creditor shall furnish the consumer with a periodic statement that discloses the following items, to the extent applicable: (a) (1) (2) (3) (4) (ii) (5) (6) (i) (ii) (7) (8) (9) (10) (b) (1) (2) (3) (4) (ii) (5) (6) (ii) (iii) (7) (8) (9) (10) (11) (A) The due date for a payment. The due date disclosed pursuant to this paragraph shall be the same day of the month for each billing cycle. (B) The amount of any late payment fee and any increased periodic rate(s) (expressed as an annual percentage rate(s)) that may be imposed on the account as a result of a late payment. If a range of late payment fees may be assessed, the card issuer may state the range of fees, or the highest fee and an indication that the fee imposed could be lower. If the rate may be increased for more than one feature or balance, the card issuer may state the range of rates or the highest rate that could apply and at the issuer's option an indication that the rate imposed could be lower. (ii) (A) Periodic statements provided solely for charge card accounts; and (B) Periodic statements provided for a charged-off account where payment of the entire account balance is due immediately. (12) (A) The following statement with a bold heading: “Minimum Payment Warning: If you make only the minimum payment each period, you will pay more in interest and it will take you longer to pay off your balance;” (B) The minimum payment repayment estimate, as described in appendix M1 to this part. If the minimum payment repay

official document · source cfr-2024 · id 12:§ 226.7