12 CFR 226.54 - Limitations on the imposition of finance charges.
(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:
(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 § 226.5(b)(2)(ii)(B)(3).
(1) Adjustments to finance charges as a result of the resolution of a dispute under§ 226.12 or § 226.13; or
Title 12 published on 2015-01-01.
No entries appear in the Federal Register after this date, for 12 CFR Part 226.