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TRUTH IN LENDING (REGULATION Z) > Special Rules Applicable to Credit Card Accounts and Open-End Credit Offered to College Students
Short Summary
These legal documents, part of the Truth in Lending (Regulation Z) issued by the Board of Governors of the Federal Reserve System, cover various aspects related to credit card accounts and open-end credit offered to college students. The documents establish rules for card issuers to consider a consumer’s ability to make minimum payments, set limitations on fees and penalty fees, allocate payments made by consumers, govern the loss of grace period, regulate increases in annual percentage rates, fees, and charges, address over-the-limit transactions, and provide special rules for credit card accounts offered to college students. The documents aim to protect consumers from excessive fees, ensure transparency in credit card transactions, regulate the marketing and provision of credit cards to college students, and promote fair and transparent practices in rate increases on credit card accounts. The documents apply to card issuers, consumers, and college students. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Card issuers, consumers, college students
What does it govern?
Special rules applicable to credit card accounts and open-end credit offered to college students
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
U.S. Federal Government