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#832421 - 10/11/07 03:51 PM Instant Cash & Check Cards/HELOC's
SweetChuck Offline
New Poster
Joined: Oct 2006
Posts: 12
We have some HELOC's tied to checking accounts - where they can write a check and it draws from the customer's loan. It is ok to offer a Instant Cash & Check Card along with this product right? As long as we are giving the proper disclosures along with these products.

Thank you!!!
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#834430 - 10/15/07 02:09 PM Re: Instant Cash & Check Cards/HELOC's SweetChuck
Bailey. Offline
Power Poster
Joined: Nov 2006
Posts: 4,558
You will want to look at Reg Z. Because the Check Card now accesses a LOC, it has become a "credit card." Off the top of my head I know you will need a signed application for the card - oral request (Reg E) is no longer sufficient.

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