Answer:
Regulation B
Sec. 202.2 Definitions
(c) Adverse action—
(2) The term does not include:
(ii) Any action or forbearance relating to an account taken in connection with inactivity, default, or delinquency as to that account;
However, if your loan contract does not indicate that this will happen, it would probably be wise to give them prior notice that you are cancelling thier line.
First published on BankersOnline.com 2/6/12
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