LegalFix
Sign In

§ 1003.3 - Exempt institutions and excluded transactions.

Copy with citation
Copy as parenthetical citation

* * *

An open-end line of credit, if the financial institution originated fewer than 100 open-end lines of credit in either of the two preceding calendar years; a financial institution may collect, record, report, and disclose information, as described in §§ 1003.4 and 1003.5, for such an excluded open-end line of credit as though it were a covered loan, provided that the financial institution complies with such requirements for all applications for open-end lines of credit that it receives, open-end lines of credit that it originates, and open-end lines of credit that it purchases that otherwise would have been covered loans during the calendar year during which final action is taken on the excluded open-end line of credit; or

Previous Section
§ 1003.3 - Exempt institutions and excluded transactions.
Next Section
§ 1003.4 - Compilation of reportable data.