Description
Discusses types of open-end non-home secured lines of credit other than credit cards. Reviews disclosure requirements, periodic statement requirements, change in terms notices, payment processing rules, and liability for non-compliance.
What You’ll Learn
- After completing this course, students will be able to:
- Understand the meaning of open-end credit that is not secured by a dwelling and is not a credit card
- Explain the following as they pertain to personal lines of credit that are not credit cards and are not secured by a dwelling:
- Requirements for account-opening disclosures
- Requirements for periodic statements
- Change-in-terms notice requirements
- Rules regarding payments on lines of credit
