Can you summarize Civ Code CACL Division 3 Part 4 Title 1.3B?

Short Summary

The provided legal document is part of the California Civil Code and specifically governs the disclosure requirements for issuers of charge cards. It applies to issuers of charge cards and consumers. The document mandates that issuers must clearly and conspicuously disclose certain information in charge card application forms or preapproved written solicitations. This includes fees or charges for issuance or renewal of the charge card, inability to defer payment of charges, and fees for cash advances. Issuers who complete a specified table with the applicable terms offered are presumed to be in compliance. Issuers are also allowed to disclose additional terms, conditions, or information. The document further requires issuers to provide an initial disclosure statement if they offer programs or services for accessing open-end credit. Charge card application forms must contain a statement allowing consumers to request disclosure of the card’s terms. The document has been amended in the past, with the most recent amendment taking effect on January 1, 2001. Any waiver of the provisions of this title is contrary to public policy and is void and unenforceable. The document can be cited as the ‘Areias-Robbins Charge Card Full Disclosure Act of 1986.’

Whom does it apply to?

Issuers of charge cards and consumers

What does it govern?

Disclosure requirements for issuers of charge cards

What are exemptions?

No exemptions are mentioned.

What are the Penalties?

Any waiver of the provisions of this title is contrary to public policy, and is void and unenforceable.

Jurisdiction

California

Source

Civ Code CACL Division 3 Part 4 Title 1.3B [https://reggi.cloud.regology.com/regulations/US-CACL/US-CACL_T_CIV_T_3_P_4_T_1.3B]

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