Answer:
What this is saying is the only type of extension of credit that would not be restricted would be an extension under an already existing open-end credit plan. Consider this example: I already had a $10,000 home equity line with your bank. I now file an identity theft alert on my credit report. Then I write a check on my equity line to advance $1,000 from the line. Payment of this check would not be subject to the more stringent identity verification procedures that are the heart of this requirement. But if instead, I came in for a new credit line or for a new loan, those would be subject to the more stringent identity verification requirements.
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