12 CFR 227.15 - Unfair late charges.

§ 227.15 Unfair late charges.
(a) In connection with collecting a debt arising out of an extension of credit to a consumer, it is an unfair act or practice for a bank to levy or collect any delinquency charge on a payment, when the only delinquency is attributable to late fees or delinquency charges assessed on earlier installments, and the payment is otherwise a full payment for the applicable period and is paid on its due date or within an applicable grace period.
(b) For the purposes of this section, collecting a debt means any activity, other than the use of judicial process, that is intended to bring about or does bring about repayment of all or part of money due (or alleged to be due) from a consumer.

Title 12 published on 2014-01-01

no entries appear in the Federal Register after this date.

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United States Code

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 227 after this date.

  • 2014-08-27; vol. 79 # 166 - Wednesday, August 27, 2014
    1. 79 FR 51115 - Unfair or Deceptive Acts or Practices (Regulation AA)
      GPO FDSys XML | Text
      FEDERAL RESERVE SYSTEM
      Notice of proposed rulemaking; request for public comment.
      Comments must be received on or before October 27, 2014.
      12 CFR Part 227