Skip to content
BOL Conferences
Thread Options
#1066319 - 10/17/08 01:43 PM TILA - variable rate consumer loan
CatNip Offline
New Poster
Joined: Sep 2008
Posts: 16
An unsecured loan with a variable rate that contains a contractual ceiling rate that is equal to the current rate. We made variable rate disclosures, but did not include a maximum rate since the rate cannot increase above the initial rate. In this scenario is a maximum rate required?

Return to Top
Lending Compliance
#1066395 - 10/17/08 02:37 PM Re: TILA - variable rate consumer loan CatNip
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
No. See 226.30.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top

Moderator:  Andy_Z