Subsequent disclosure requirements.

CFR · 2024-01-01 · US · Title 12

(a) (2) (b) (2) Except as provided in paragraph (b)(3) of this section, whenever a credit feature is added or a credit access device is mailed or delivered to the consumer, and the finance charge terms for the feature or device differ from disclosures previously given, the disclosures required by § 226.6(a)(1) or (b)(3)(ii)(A), as applicable, that are applicable to the added feature or device shall be given before the consumer uses the feature or device for the first time. (3) (A) If a promotional rate, as that term is defined in § 226.16(g)(2)(i) applies to the checks: ( ( ( (B) If no promotional rate applies to the checks: ( ( (C) Any transaction fees applicable to the checks disclosed under § 226.6(b)(2)(iv); and (D) Whether or not a grace period is given within which any credit extended by use of the checks may be repaid without incurring a finance charge due to a periodic interest rate. When disclosing whether there is a grace period, the phrase “How to Avoid Paying Interest on Check Transactions” shall be used as the row heading when a grace period applies to credit extended by the use of the checks. When disclosing the fact that no grace period exists for credit extended by use of the checks, the phrase “Paying Interest” shall be used as the row heading. (ii) (iii) (c)(1) (ii) (iii) (2) (B) (ii) (iii) (A) Comply with the requirements of paragraph (c)(2)(i) of this section; or (B) Provide notice of the amount of the charge before the consumer agrees to or becomes obliga

official document · source cfr-2024 · id 12:§ 226.9