I'm confused. How long does a HELOC introductory rate have to be in effect? Is it 6 months like other open-end products?
Section 1026.16(d)-7 states:
Relation to other sections. Advertisements for home-equity plans must comply with ALL provisions in テつァ 1026.16, not solely the rules in テつァ 1026.16(d). If an advertisement contains information (such as the payment terms) that triggers the duty under テつァ 1026.16(d) to state the annual percentage rate, the additional disclosures in テつァ 1026.16(b) must be provided in the advertisement. While テつァ 1026.16(d) does not require a statement of fees to use or maintain the plan (such as membership fees and transaction charges), such fees must be disclosed under テつァ 1026.16(b)(1)(i) and (b)(1)(iii).
BUT...
1026.16(g) states:
The requirements of this paragraph apply to any advertisement of an open-end (not home-secured) plan, including promotional materials accompanying applications or solicitations subject to テつァ 1026.60(c) or accompanying applications or solicitations subject to テつァ 1026.60(e).