[Federal Register Volume 77, Number 71 (Thursday, April 12, 2012)]
[Proposed Rules]
[Pages 21875-21878]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-8534]


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 Proposed Rules
                                                 Federal Register
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 This section of the FEDERAL REGISTER contains notices to the public of 
 the proposed issuance of rules and regulations. The purpose of these 
 notices is to give interested persons an opportunity to participate in 
 the rule making prior to the adoption of the final rules.
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  Federal Register / Vol. 77, No. 71 / Thursday, April 12, 2012 / 
Proposed Rules  

[[Page 21875]]



BUREAU OF CONSUMER FINANCIAL PROTECTION

12 CFR Part 1026

[Docket No. CFPB-2012-0015]
RIN 3170-AA21


Truth in Lending (Regulation Z)

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Proposed rule; request for public comment.

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SUMMARY: The Bureau of Consumer Financial Protection (Bureau) is 
proposing to amend Regulation Z, which implements the Truth In Lending 
Act, and the official interpretation to the regulation, which 
interprets the requirements of Regulation Z. Regulation Z generally 
limits the total amount of fees that a credit card issuer may require a 
consumer to pay with respect to an account, limiting fees to 25 percent 
of the credit limit in effect when the account is opened. Regulation Z 
currently states that this limitation applies prior to account opening 
and during the first year after account opening. The proposal requests 
comment on whether to amend Regulation Z to apply the limitation only 
during the first year after account opening.

DATES: Comments must be received on or before June 11, 2012.

ADDRESSES: You may submit comments, identified by Docket No. CFPB-2012-
0015 or Regulatory Identification Number (RIN) 3170-AA21, by any of the 
following methods:
     Electronic: http://www.regulations.gov. Follow the 
instructions for submitting comments.
     Mail: Monica Jackson, Office of the Executive Secretary, 
Bureau of Consumer Financial Protection, 1700 G Street NW., Washington, 
DC 20552.
     Hand Delivery/Courier in Lieu of Mail: Monica Jackson, 
Office of the Executive Secretary, Bureau of Consumer Financial 
Protection, 1700 G Street NW., Washington, DC 20552.
    All submissions must include the agency name and docket number or 
RIN for this rulemaking. In general, all comments received will be 
posted without change to http://www.regulations.gov. In addition, 
comments will be available for public inspection and copying at 1700 G 
Street NW., Washington, DC 20552, on official business days between the 
hours of 10 a.m. and 5 p.m. Eastern Time. You can make an appointment 
to inspect the documents by calling (202) 435-7275.
    All comments, including attachments and other supporting materials, 
will become part of the public record and subject to public disclosure. 
Sensitive personal information, such as account numbers or social 
security numbers, should not be included. Comments will not be edited 
to remove any identifying or contact information.

FOR FURTHER INFORMATION CONTACT: Gregory Evans, Counsel, or Benjamin K. 
Olson, Managing Counsel, Division of Research, Markets, and 
Regulations, Bureau of Consumer Financial Protection, 1700 G Street 
NW., Washington, DC 20552, at (202) 435-7000.

SUPPLEMENTARY INFORMATION: 

I. Background

    The Credit Card Accountability Responsibility and Disclosure Act of 
2009 (Credit Card Act) was signed into law on May 22, 2009.\1\ The 
Credit Card Act primarily amended the Truth in Lending Act (TILA) and 
instituted new substantive and disclosure requirements to establish 
fair and transparent practices for open-end consumer credit plans.
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    \1\ Public Law 111-24, 123 Stat. 1734 (2009).
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    The Credit Card Act added TILA Section 127(n)(1), which states that 
``[i]f the terms of a credit card account under an open end consumer 
credit plan require the payment of any fees (other than any late fee, 
over-the-limit fee, or fee for a payment returned for insufficient 
funds) by the consumer in the first year during which the account is 
opened in an aggregate amount in excess of 25 percent of the total 
amount of credit authorized under the account when the account is 
opened,'' then ``no payment of any fees (other than any late fee, over-
the-limit fee, or fee for a payment returned for insufficient funds) 
may be made from the credit made available under the terms of the 
account.'' \2\
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    \2\ 15 U.S.C. 1637(n)(1).
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    On January 12, 2010, the Federal Reserve Board of Governors (Board) 
issued a final rule implementing new TILA Section 127(n) in 12 CFR 
226.52(a).\3\ Section 226.52(a) limits the total amount of fees that a 
credit card issuer may require a consumer to pay with respect to an 
account to 25 percent of the credit limit in effect when the account is 
opened. Under the January 2010 final rule, this limitation applied only 
during the first year after account opening.\4\ This rule became 
effective on February 22, 2010.
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    \3\ See 75 FR 7658, 7819 (Feb. 22, 2010).
    \4\ Id.
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    On April 8, 2011, the Board issued a final rule expanding Sec.  
226.52(a) to apply to fees the consumer is required to pay with respect 
to an account prior to account opening.\5\ The change was based on the 
Board's understanding that certain credit card issuers were ``requiring 
consumers to pay application or processing fees prior to account 
opening that, when combined with other fees charged to the account 
after account opening, exceed 25 percent of the account's initial 
credit limit.''\6\ The Board viewed this practice as ``inconsistent 
with the intent of [TILA] Section 127(n)(1) insofar as it alters the 
statutory relationship between the costs and benefits of opening a 
credit card account.'' \7\ The Board's change to Sec.  226.52(a) was 
scheduled to become effective on October 1, 2011.\8\
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    \5\ 76 FR 22948, 23002 (Apr. 25, 2011). The Board proposed this 
provision for comment in November 2010. 75 FR 67458, 67475 (Nov. 2, 
2010).
    \6\ 76 FR at 22977.
    \7\ Id.
    \8\ Id. at 22948.
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    On July 20, 2011, a credit card issuer filed a lawsuit in the 
United States District Court for the District of South Dakota, alleging 
that the Board exceeded its authority by expanding Sec.  226.52(a) to 
apply to fees the consumer is required to pay prior to account 
opening.\9\ On July 21, 2011, the Board's rulemaking authority to 
implement the provisions of TILA transferred to the Bureau pursuant to 
Sections 1061 and 1100A of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act (Dodd-Frank

[[Page 21876]]

Act).\10\ On August 5, 2011, the card issuer filed a motion for a 
preliminary injunction, asking the court to postpone the October 1, 
2011 effective date with respect to the application of Sec.  226.52 to 
fees paid prior to account opening. The district court granted the 
motion for a preliminary injunction on September 23, 2011. As a result 
of the court's order, the portion of the Board's 2011 final rule 
applying Sec.  226.52(a) to pre-account opening fees has not become 
effective.
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    \9\ See First Premier Bank, et al. v. United States Consumer 
Fin. Prot. Bureau, et al., -- F. Supp. 2d. --, 2011 WL 4458785 
(D.S.D. Sept. 23, 2011).
    \10\ Public Law 111-203 (2010). See 12 U.S.C. 5581; 15 U.S.C. 
1604(a); Designated Transfer Date, 75 FR 57252 (Sept. 20, 2010).
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    On December 22, 2011, the Bureau issued an interim final rule to 
reflect its assumption of rulemaking authority over Regulation Z.\11\ 
The interim final rule made only technical changes to Regulation Z, 
such as noting the Bureau's authority and renumbering Regulation Z as 
12 CFR part 1026. Accordingly, the provision addressed in this proposal 
and in the litigation discussed above is properly cited as 12 CFR 
1026.52(a).
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    \11\ 76 FR 79768 (Dec. 22, 2011).
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II. Legal Authority

    The Bureau is issuing this proposal pursuant to its authority under 
TILA and the Dodd-Frank Act. Effective July 21, 2011, Section 1061 of 
the Dodd-Frank Act transferred to the Bureau the ``consumer financial 
protection functions'' previously vested in certain other Federal 
agencies. The term ``consumer financial protection functions'' is 
defined to include ``all authority to prescribe rules or issue orders 
or guidelines pursuant to any Federal consumer financial law, including 
performing appropriate functions to promulgate and review such rules, 
orders, and guidelines.'' \12\ TILA is a Federal consumer financial 
law.\13\ Accordingly, effective July 21, 2011, except with respect to 
persons excluded from the Bureau's rulemaking authority by Section 1029 
of the Dodd Frank Act, the authority of the Board to issue regulations 
pursuant to TILA transferred to the Bureau.
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    \12\ Public Law 111-203, Section 1061(a)(1). Effective on the 
designated transfer date, the Bureau was also granted ``all powers 
and duties'' vested in each of the Federal agencies, relating to the 
consumer financial protection functions, on the day before the 
designated transfer date.
    \13\ Public Law 111-203, Section 1002(14) (defining ``Federal 
consumer financial law'' to include the ``enumerated consumer 
laws''); id. Section 1002(12) (defining ``enumerated consumer laws'' 
to include TILA).
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    TILA, as amended by the Dodd-Frank Act, authorizes the Bureau to 
``prescribe regulations to carry out the purposes of [TILA].'' \14\ 
These regulations may contain such classifications, differentiations, 
or other provisions, and may provide for such adjustments and 
exceptions for any class of transactions, that in the Bureau's judgment 
are necessary or proper to effectuate the purpose of TILA, facilitate 
compliance with TILA, or prevent circumvention or evasion of TILA.\15\
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    \14\ Public Law 111-203, Section 1100A(2); 15 U.S.C. 1604(a).
    \15\  Id.
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III. Summary of the Proposed Rule

    The Bureau is proposing to amend 12 CFR 1026.52(a) to resolve the 
uncertainty caused by the litigation discussed above. Specifically, the 
Bureau is proposing to amend Sec.  1026.52(a) to provide that the 
limitation on credit card fees applies only during the first year after 
account opening. The Bureau is also proposing to make corresponding 
amendments to the Official Interpretations of Sec.  1026.52(a).

IV. Section 1022(b)(2) of the Dodd-Frank Act

    In developing the proposed rule, the Bureau has conducted an 
analysis of potential benefits, costs, and impacts,\16\ and has 
consulted or offered to consult with the prudential regulators and the 
Federal Trade Commission, including regarding consistency with any 
prudential, market, or systemic objectives administered by such 
agencies.
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    \16\ Specifically, Section 1022(b)(2)(A) calls for the Bureau to 
consider the potential benefits and costs of a regulation to 
consumers and covered persons, including the potential reduction of 
access by consumers to consumer financial products or services; the 
impact on depository institutions and credit unions with $10 billion 
or less in total assets as described in section 1026 of the Act; and 
the impact on consumers in rural areas. This discussion considers 
the impacts of the proposed rule relative to existing law.
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    The proposal provides that the limitation on credit card account 
fees in Sec.  1026.52(a) applies only during the first year after 
account opening. If the proposal is adopted, fees that a consumer is 
required to pay prior to account opening will not be subject to the 
limitation in Sec.  1026.52(a).
    The Bureau believes that the proposal, if adopted, may impose 
potential costs on consumers by permitting covered persons to collect 
fees that would be disallowed absent the proposal. Covered persons 
should benefit from clarification of the scope of Sec.  1026.52(a) to 
resolve any uncertainty created by the litigation discussed above. The 
proposed rule would also permit covered persons to collect fees that 
would be prohibited absent the proposed rule. The Bureau does not 
expect the proposal to impose costs on covered persons. All methods of 
compliance under current law will remain available to covered persons 
if the proposal is adopted. Thus, a covered person who is in compliance 
with current law need not take any additional action if the proposal is 
adopted.
    Finally, the proposed rule would have no unique impact on insured 
depository institutions or insured credit unions with $10 billion or 
less in assets as described in section 1026 of the Dodd-Frank Act, nor 
would the proposed rule have a unique impact on rural consumers.
    The Bureau requests comments on the potential benefits, costs, and 
impacts of the proposal.

V. Regulatory Flexibility Act

    The Regulatory Flexibility Act (RFA), as amended by the Small 
Business Regulatory Enforcement Fairness Act of 1996, requires each 
agency to consider the potential impact of its regulations on small 
entities, including small businesses, small governmental units, and 
small not-for-profit organizations.\17\ The RFA defines a ``small 
business'' as a business that meets the size standard developed by the 
Small Business Administration pursuant to the Small Business Act.\18\
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    \17\ 5 U.S.C. 601 et seq. The Bureau is not aware of any 
governmental units or not-for-profit organizations to which the 
proposal would apply.
    \18\ 5 U.S.C. 601(3). The Bureau may establish an alternative 
definition after consultation with the Small Business Administration 
and an opportunity for public comment.
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    The RFA generally requires an agency to conduct an initial 
regulatory flexibility analysis (IRFA) and a final regulatory 
flexibility analysis (FRFA) of any rule subject to notice-and-comment 
rulemaking requirements, unless the agency certifies that the rule will 
not have a significant economic impact on a substantial number of small 
entities. The Bureau also is subject to certain additional procedures 
under the RFA involving the convening of a panel to consult with small 
business representatives prior to proposing a rule for which an IRFA is 
required.\19\
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    \19\ 5 U.S.C. 609.
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    An IRFA is not required for the proposal because the proposal, if 
adopted, would not have a significant economic impact on any small 
entities. The Bureau does not expect the proposal to impose costs on 
covered persons. All methods of compliance under current law will 
remain available to small entities if the proposal is adopted. Thus, a 
small entity that is in compliance with current law need not take any 
additional action if the proposal is adopted. Instead, the overall

[[Page 21877]]

effect of the proposal would be to narrow the compliance obligations 
under Sec.  1026.52(a) for covered persons and to give covered persons 
additional certainty about how to comply with Sec.  1026.52(a).
    Accordingly, the undersigned certifies that this proposal, if 
adopted, would not have a significant economic impact on a substantial 
number of small entities.

VI. Paperwork Reduction Act

    The collection of information related to this notice of proposed 
rulemaking has been previously reviewed and approved by the Office of 
Management and Budget (OMB) in accordance with the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3507(d)) and assigned OMB Control Number 3170-
0015. Under the Paperwork Reduction Act, the Bureau may not conduct or 
sponsor, and a person is not required to respond to, an information 
collection unless the information collection displays a currently valid 
control number assigned by OMB. As discussed below, the Bureau does not 
believe that this proposed rule imposes any new collection of 
information or any increase to the previously approved estimated burden 
associated with the information collection in Regulation Z.
    The collection of information, if any, in Regulation Z, 12 CFR part 
1026. The information collection in Regulation Z is required to provide 
benefits for consumers and is mandatory.\20\ The respondents and/or 
recordkeepers are creditors and other entities subject to Regulation Z, 
including for-profit financial institutions, small businesses, and 
institutions of higher education. Under Sec.  1026.25, creditors are 
required to retain evidence of compliance for twenty-four months, but 
Regulation Z does not specify the types of records that must be 
maintained.
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    \20\ 15 U.S.C. 1601 et seq.
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    If this proposal to Regulation Z is adopted, card issuers will not 
be required to comply with Sec.  1026.52(a) with respect to fees the 
consumer is required to pay prior to account opening. The Bureau 
believes that any burden associated with updating compliance under the 
proposed provisions is already accounted for in the previously approved 
burden estimates associated with the collection in Regulation Z under 
the Board's January 2010 Final Rule estimates. That rule imposed a 
similar limitation on fees.\21\ Accordingly, for the reasons stated 
above, the Bureau estimates that there would not be an increase in the 
one-time or ongoing burden to comply with the requirements under 
proposed Sec.  1026.52(a).
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    \21\ See 75 FR 7791 for the Board's burden analysis under the 
Paperwork Reduction Act.
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    Although the Bureau does not believe that the proposed rule imposes 
any new collection of information or any increase to the previously 
approved estimated burden associated with the collection in Regulation 
Z, the Bureau solicits comment on the proposed modification to Sec.  
1026.52(a) or any other aspect of the proposal for purposes of the PRA. 
Comments on the collection of information requirements should be sent 
to the Office of Management and Budget, Attention: Desk Officer for the 
Consumer Financial Protection Bureau, Office of Information and 
Regulatory Affairs, Washington, DC 20503, or by the Internet to http://[email protected], with copies to the Bureau at the address 
previously specified.

Text of Proposed Revisions

    Certain conventions have been used to highlight the proposed 
changes to the text of the regulation and official interpretation. New 
language is shown inside [rtrif]bold-faced arrows[ltrif], while 
language that would be deleted is set off with [bold-faced brackets].

List of Subjects in 12 CFR Part 1026

    Advertising, Consumer protection, Credit, Credit unions, Mortgages, 
National banks, Reporting and recordkeeping requirements, Savings 
associations, Truth in lending.

Authority and Issuance

    For the reasons set forth above, the Bureau proposes to amend Part 
1026 of Chapter X in Title 12 of the Code of Federal Regulations as 
follows:

PART 1026--TRUTH IN LENDING (REGULATION Z)

    1. The authority citation for Part 1026 continues to read as 
follows:

    Authority:  12 U.S.C. 5512, 5581; 15 U.S.C. 1601 et seq.

Subpart G--Special Rules Applicable to Credit Card Accounts and 
Open-End Credit Offered to College Students

    2. In Sec.  1026.52, revise paragraph (a) to read as follows:


Sec.  1026.52  Limitations on fees.

    (a) Limitations [prior to account opening and]  during first year 
after account opening. (1) General rule. Except as provided in 
paragraph (a)(2) of this section, the total amount of fees a consumer 
is required to pay with respect to a credit card account under an open-
end (not home-secured) consumer credit plan [prior to account opening 
and] during the first year after account opening must not exceed 25 
percent of the credit limit in effect when the account is opened. For 
purposes of this paragraph, an account is considered open no earlier 
than the date on which the account may first be used by the consumer to 
engage in transactions.
* * * * *

Supplement I to Part 1026--Official Interpretations

    3. In Paragraph 52(a), revise to read as follows:

Section 1026.52--Limitations on Fees

    52(a) Limitations [prior to account opening and]  during first year 
after account opening.
    52(a)(1) General rule.
    1. Application. The 25 percent limit in Sec.  1026.52(a)(1) applies 
to fees that the card issuer charges to the account as well as to fees 
that the card issuer requires the consumer to pay with respect to the 
account through other means (such as through a payment from the 
consumer's asset account to the card issuer or from another credit 
account provided by the card issuer). For example:
    i. Assume that, under the terms of a credit card account, a 
consumer is required to pay $120 in fees for the issuance or 
availability of credit at account opening. The consumer is also 
required to pay a cash advance fee that is equal to five percent of the 
cash advance and a late payment fee of $15 if the required minimum 
periodic payment is not received by the payment due date (which is the 
twenty-fifth of the month). At account opening on January 1 of year 
one, the credit limit for the account is $500. Section 1026.52(a)(1) 
permits the card issuer to charge to the account the $120 in fees for 
the issuance or availability of credit at account opening. On February 
1 of year one, the consumer uses the account for a $100 cash advance. 
Section 1026.52(a)(1) permits the card issuer to charge a $5 cash-
advance fee to the account. On March 26 of year one, the card issuer 
has not received the consumer's required minimum periodic payment. 
Section 1026.52(a)(2) permits the card issuer to charge a $15 late 
payment fee to the account. On July 15 of year one, the consumer uses 
the account for a $50 cash advance. Section 1026.52(a)(1) does not 
permit the card issuer to charge a $2.50 cash advance fee to the 
account. Furthermore, Sec.  1026.52(a)(1) prohibits the card issuer 
from collecting the $2.50 cash advance fee from the consumer by other 
means.

[[Page 21878]]

    ii. Assume that, under the terms of a credit card account, a 
consumer is required to pay $125 in fees for the issuance or 
availability of credit during the first year after account opening. At 
account opening on January 1 of year one, the credit limit for the 
account is $500. Section 1026.52(a)(1) permits the card issuer to 
charge the $125 in fees to the account. However, Sec.  1026.52(a)(1) 
prohibits the card issuer from requiring the consumer to make payments 
to the card issuer for additional non-exempt fees with respect to the 
account [prior to account opening or] during the first year after 
account opening. Section 1026.52(a)(1) also prohibits the card issuer 
from requiring the consumer to open a separate credit account with the 
card issuer to fund the payment of additional non-exempt fees [prior to 
the opening of the credit card account or] during the first year after 
the credit card account is opened.
    [iii. Assume that, on January 1 of year one, a consumer is required 
to pay a $100 fee in order to apply for a credit card account. On 
January 5, the card issuer approves the consumer's application, assigns 
the account a credit limit of $1,000, and provides the consumer with 
account-opening disclosures consistent with Sec.  1026.6. The date on 
which the account may first be used by the consumer to engage in 
transactions is January 5. The consumer is required to pay $150 in fees 
for the issuance or availability of credit, which Sec.  1026.52(a)(1) 
permits the card issuer to charge to the account on January 5. However, 
because the $100 application fee is subject to the 25 percent limit in 
Sec.  1026.52(a)(1), the card issuer is prohibited from requiring the 
consumer to pay any additional non-exempt fees with respect to the 
account until January 5 of year two.]
* * * * *
    3. Changes in credit limit during first year.
    i. Increases in credit limit. If a card issuer increases the credit 
limit during the first year after the account is opened, Sec.  
1026.52(a)(1) does not permit the card issuer to require the consumer 
to pay additional fees that would otherwise be prohibited (such as a 
fee for increasing the credit limit). For example, assume that, at 
account opening on January 1, the credit limit for a credit card 
account is $400 and the consumer is required to pay $100 in fees for 
the issuance or availability of credit. On July 1, the card issuer 
increases the credit limit for the account to $600. Section 
1026.52(a)(1) does not permit the card issuer to require the consumer 
to pay additional fees based on the increased credit limit.
    ii. Decreases in credit limit. If a card issuer decreases the 
credit limit during the first year after the account is opened, Sec.  
1026.52(a)(1) requires the card issuer to waive or remove any fees 
charged to the account that exceed 25 percent of the reduced credit 
limit or to credit the account for an amount equal to any fees the 
consumer was required to pay with respect to the account that exceed 25 
percent of the reduced credit limit within a reasonable amount of time 
but no later than the end of the billing cycle following the billing 
cycle during which the credit limit was reduced. For 
example[:][rtrif],[ltrif]
    [A. Assume][rtrif] assume[ltrif] that, at account opening on 
January 1, the credit limit for a credit card account is $1,000 and the 
consumer is required to pay $250 in fees for the issuance or 
availability of credit. The billing cycles for the account begin on the 
first day of the month and end on the last day of the month. On July 
30, the card issuer decreases the credit limit for the account to $500. 
Section 1026.52(a)(1) requires the card issuer to waive or remove $175 
in fees from the account or to credit the account for an amount equal 
to $175 within a reasonable amount of time but no later than August 31.
    [B. Assume that, on June 25 of year one, a consumer is required to 
pay a $75 fee in order to apply for a credit card account. At account 
opening on July 1 of year one, the credit limit for the account is $500 
and the consumer is required to pay $50 in fees for the issuance or 
availability of credit. The billing cycles for the account begin on the 
first day of the month and end on the last day of the month. On 
February 15 of year two, the card issuer decreases the credit limit for 
the account to $250. Section 1026.52(a)(1) requires the card issuer to 
waive or remove fees from the account or to credit the account for an 
amount equal to $62.50 within a reasonable amount of time but no later 
than March 31 of year two.]
* * * * *
    52(a)(2) Fees not subject to limitations.
    1. Covered fees. Except as provided in Sec.  1026.52(a)(2), Sec.  
1026.52(a) applies to any fees or other charges that a card issuer will 
or may require the consumer to pay with respect to a credit card 
account [prior to account opening and] during the first year after 
account opening, other than charges attributable to periodic interest 
rates. For example, Sec.  1026.52(a) applies to:
    i. Fees that the consumer is required to pay for the issuance or 
availability of credit described in Sec.  1026.60(b)(2), including any 
fee based on account activity or inactivity and any fee that a consumer 
is required to pay in order to receive a particular credit limit;
    ii. Fees for insurance described in Sec.  1026.4(b)(7) or debt 
cancellation or debt suspension coverage described in Sec.  
1026.4(b)(10) written in connection with a credit transaction, if the 
insurance or debt cancellation or debt suspension coverage is required 
by the terms of the account;
    iii. Fees that the consumer is required to pay in order to engage 
in transactions using the account (such as cash advance fees, balance 
transfer fees, foreign transaction fees, and fees for using the account 
for purchases);
    iv. Fees that the consumer is required to pay for violating the 
terms of the account (except to the extent specifically excluded by 
Sec.  1026.52(a)(2)(i));
    v. Fixed finance charges; and
    vi. Minimum charges imposed if a charge would otherwise have been 
determined by applying a periodic interest rate to a balance except for 
the fact that such charge is smaller than the minimum.
* * * * *

    Dated: April 4, 2012.
Richard Cordray,
Director, Bureau of Consumer Financial Protection.
[FR Doc. 2012-8534 Filed 4-11-12; 8:45 am]
BILLING CODE 4810-AM-P