12 CFR 37.4 - Refunds of fees in the event of termination or prepayment of the covered loan.

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There is 1 rule appearing in the Federal Register for 12 CFR 37. View below or at eCFR (GPOAccess)
§ 37.4 Refunds of fees in the event of termination or prepayment of the covered loan.
(a) Refunds. If a debt cancellation contract or debt suspension agreement is terminated (including, for example, when the customer prepays the covered loan), the bank shall refund to the customer any unearned fees paid for the contract unless the contract provides otherwise. A bank may offer a customer a contract that does not provide for a refund only if the bank also offers that customer a bona fide option to purchase a comparable contract that provides for a refund.
(b) Method of calculating refund. The bank shall calculate the amount of a refund using a method at least as favorable to the customer as the actuarial method.

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.

  • 2014-06-27; vol. 79 # 124 - Friday, June 27, 2014
    1. 79 FR 36387 - Debt Cancellation Contracts and Debt Suspension Agreements
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Comptroller of the Currency
      12 CFR Part 37

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 37 after this date.

  • 2014-06-27; vol. 79 # 124 - Friday, June 27, 2014
    1. 79 FR 36387 - Debt Cancellation Contracts and Debt Suspension Agreements
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Comptroller of the Currency
      12 CFR Part 37