12 CFR 1026.54 - Limitations on the imposition of finance charges.

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There is 1 rule appearing in the Federal Register for 12 CFR 1026. View below or at eCFR (GPOAccess)
§ 1026.54 Limitations on the imposition of finance charges.
(a) Limitations on imposing finance charges as a result of the loss of a grace period.
(1) General rule. Except as provided in paragraph (b) of this section, a card issuer must not impose finance charges as a result of the loss of a grace period on a credit card account under an open-end (not home-secured) consumer credit plan if those finance charges are based on:
(i) Balances for days in billing cycles that precede the most recent billing cycle; or
(ii) Any portion of a balance subject to a grace period that was repaid prior to the expiration of the grace period.
(2) Definition of grace period. For purposes of paragraph (a)(1) of this section, “grace period” has the same meaning as in § 1026.5(b)(2)(ii)(B)(3).
(b) Exceptions. Paragraph (a) of this section does not apply to:
(1) Adjustments to finance charges as a result of the resolution of a dispute under § 1026.12 or § 1026.13; or
(2) Adjustments to finance charges as a result of the return of a payment.

Title 12 published on 2014-01-01

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-07-17; vol. 79 # 137 - Thursday, July 17, 2014
    1. 79 FR 41631 - Application of Regulation Z's Ability-To-Repay Rule to Certain Situations Involving Successors-in-Interest
      GPO FDSys XML | Text
      BUREAU OF CONSUMER FINANCIAL PROTECTION
      Final rule.
      This clarification is effective July 17, 2014 and applicable beginning July 8, 2014.
      12 CFR Part 1026

Title 12 published on 2014-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 1026 after this date.

  • 2014-07-17; vol. 79 # 137 - Thursday, July 17, 2014
    1. 79 FR 41631 - Application of Regulation Z's Ability-To-Repay Rule to Certain Situations Involving Successors-in-Interest
      GPO FDSys XML | Text
      BUREAU OF CONSUMER FINANCIAL PROTECTION
      Final rule.
      This clarification is effective July 17, 2014 and applicable beginning July 8, 2014.
      12 CFR Part 1026