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#1535602 - 04/14/11 03:50 PM Credit Card Act & HELOCS
JamesH Offline
Member
Joined: Jun 2008
Posts: 52
At one time, it was decided that the Credit Card Act (CCA) did indeed apply to HELOC (particularly the 21-day notice rule); however, am I correct that the HELOCs are no longer affected by the CCA? Help is needed.

Do you have any official guidance or link to support this.

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Lending Compliance
#1535882 - 04/14/11 08:30 PM Re: Credit Card Act & HELOCS JamesH
Carolina Blue Offline
Platinum Poster
Carolina Blue
Joined: Jul 2005
Posts: 960
Lost in a regulatory fog
Correct. Bankersonline has updated their Reg.Z cite to include the clarified final rules. See 226.2(a)(15) and they have the updated definition in red. Or here's a link to the final rule, Federal Reserve Rule . See top of page 5 for their explanation.

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