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CFPB

RIN: 3170-AA21

Publication ID: 2012

Title: ●Credit Card Pre-Opening Account Fees (Regulation Z)
Abstract: 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 during the first year after account opening to 25 percent of the credit limit in effect when the account is opened. In April 2011, the Board of Governors of the Federal Reserve System further amended Regulation Z to extend the limitation to include fees the consumer is required to pay prior to account opening. In September 2011, the U.S. District Court for South Dakota issued a preliminary injunction preventing this amendment from taking effect. The CFPB has proposed a regulation to amend Regulation Z to apply the 25 percent limitation only during the first year after account opening.
Agency: Consumer Financial Protection Bureau(CFPB)	Priority: Substantive, Nonsignificant
RIN Status: First time published in the Unified Agenda	Agenda Stage of Rulemaking: Final Rule Stage
Major: Undetermined	Unfunded Mandates: No
CFR Citation: 12 CFR 1026.52
Legal Authority: 15 USC 1604(a)

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	04/12/2012	77 FR 21875
NPRM Comment Period End	06/11/2012
Final Rule	04/00/2013

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Federalism: No
Included in the Regulatory Plan: No
RIN Data Printed in the FR: No
Related RINs: Related to 7100-AD55
Agency Contact: Ben Olson Office of Regulations Consumer Financial Protection Bureau Phone:202 435-7700