Is anyone aware of any provisions in the Credit Card Act of 2009 that apply to HELOCs? For instance, does the requirement to send out billing statements 21 days prior to the due date also apply to HELOC billing statements? Or does this requirement only apply to HELOCs that are accessible with the use of a credit card as in the following excerpt:

Section IV (Regulatory Flexibility Analysis) of the Supplementary Information, Footnote No. 23 (Page 63) states in part "applies to all open-end consumer credit plans (including home equity lines of credit accessed by a credit card..."

This is a popular question - see the other active thread. The answer you'll get depends on who you ask - some say yes, others say no. Hopefully we'll get some clarification some time soon. I'm in the camp that says the 21 day rule applies to HELOCs.

It is placed in the Reg under the general open end disclosure requirements so it likely applies to all.

Clarification came out on this on July 16 it does apply to HELOC's. Check under Top Stories on the BOL home page July 16, Credit Card Rate Change Notice Interim Rule Issued.

from Section 226.5 General Disclosure Requirements
5(b) Time of Disclosures
As amended by the Credit Card Act, TILA Section 163 generally prohibits a creditor from treating a payment as late or imposing additional finance charges unless the creditor mailed or delivered the periodic statement at least 21 days before the payment due date and the expiration of any period within which any credit extended may be repaid without incurring a finance charge (i.e., a “grace period”). See Credit Card Act § 106(b).
Unlike most of the Credit Card Act’s provisions, the amendments to TILA Section 163 apply to all open-end consumer credit plans rather than just credit card accounts.8 As discussed below, the Board has implemented amended TILA Section 163 by revising
§ 226.5(b)(2)(ii) and the accompanying official staff commentary.