I was reviewing our program disclosure and noticed that it didnt contain one of the things that is required according to Reg Z:

b)The time which an application must be submitted to obtain the specific disclosure terms?

Can someone explain why this is required and how i can state it on my disclosure?

You only have to make that disclosure if it is applicable.

226.5b(d)

Content of disclosures. The creditor shall provide the following disclosures, as applicable:


The reason for the disclosure is to avoid a "bait and switch" scenario. IOWs if you are running a promotional program and the terms of that program are only good for 120 days then you must inform the applicant by when they must apply to receive those disclosed terms.

Ours doesn't read exactly like that, however it does say

that if any of the terms (other than the APR) change prior to closing that they could cancel and any charges would be refunded.

(Not exact wording, but close!)

RR Joker, thats what ours says as well, thanks to both of you.