Section 1030.3--General Disclosure Requirements
(a) Form.
2. Consistent terminology. Institutions must use consistent terminology to describe terms or features required to be disclosed. For example, if an institution describes a monthly fee (regardless of account activity) as a “monthly service fee†in account-opening disclosures, the periodic statement and change-in-term notices must use the same terminology so that consumers can readily identify the fee.
_________________________
The opinions expressed here should not be construed to be those of my employer:
PPDocs.com