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#2256702 - 07/14/21 06:58 PM Reg O Credit Card Exceptions
Working From Home Offline
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Joined: Oct 2009
Posts: 257
There is an exemption in Reg O for credit cards up to $15,000. 215.3(b)(5) If we have an Insider who has a $10,000 credit card, and a $25,000 card, would the total Reg O indebtedness be $20,000? Can we exclude the entire $15,000 or does the $15,000 need to be on one card and we could only exclude the one for $10,000?

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#2256707 - 07/14/21 07:18 PM Re: Reg O Credit Card Exceptions Working From Home
rlcarey Online
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rlcarey
Joined: Jul 2001
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Galveston, TX
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#2256708 - 07/14/21 07:55 PM Re: Reg O Credit Card Exceptions Working From Home
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Joined: Oct 2009
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Thanks. Good info. That advisory opinion sure is a mouthful. So if I'm reading it correctly, my total Reg O borrowings would be $25,000, and I can only exclude the one for $10,000.

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