Thread Options
#699271 - 03/09/07 05:15 PM Payment coupons
Ninky Offline
Gold Star
Ninky
Joined: Nov 2002
Posts: 357
Are there any regulatory requirements for payment coupons? Not periodic statements for open-end credit under Reg Z, just a straight closed-end loan payment coupon. If there are compliance issues, can someone refer me to the appropriate regulation? We are changing formats and need to know if there any regulatory requirements or restrictions.

Return to Top
Lending Compliance
#699668 - 03/12/07 01:22 PM Re: Payment coupons Ninky
LoisLane Offline
Diamond Poster
LoisLane
Joined: Oct 2001
Posts: 1,570
Wisteria Lane..
There aren't any federal regulatory requirements for payment coupons nor are there requirements that a payment coupon or coupon book be given to the consumer.
_________________________
And where is Superman when I need him?

Return to Top
#699704 - 03/12/07 02:05 PM Re: Payment coupons LoisLane
ToTo Offline
Platinum Poster
Joined: Apr 2004
Posts: 595
OZ
Not a "payment coupon" requirement, but a subsequent disclosure requirement for closed-end ARMs (variable rate adjustment disclosures) required under 226.20(c).

Return to Top

Moderator:  Andy_Z