This course discusses types of open-end non-home secured lines of credit other than credit cards. The course reviews disclosure requirements, periodic statement requirements, change in terms notices, payment processing rules, and liability for non-compliance.
After completing this course, students will be able to:
• Explain the account opening disclosures
• Explain the requirements for periodic statements
• Describe change-in-terms notice requirements
• Explain the rules about payments on lines of credit