Answer:
Yes, it does, see 226.7 and its Commentary. In a nutshell, if there is a zero balance and no credit or debit activity during the billing cycle, a periodic statement is not necessary.
First published on BankersOnline.com 5/10/10
Reg Z - Statement Requirements
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Question:
Does Reg Z deal with statement requirements for a non-HELOC, open-end credit plan, with a zero balance and no activity during the cycle?
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