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15 U.S. Code § 1665b

Advertising of open end consumer credit plans secured by consumer’s principal dwelling

15 U.S. Code § 1665b. Advertising of open end consumer credit plans secured by consumer’s principal dwelling

(a) In generalIf any advertisement to aid, promote, or assist, directly or indirectly, the extension of consumer credit through an open end consumer credit plan under which extensions of credit are secured by the consumer’s principal dwelling states, affirmatively or negatively, any of the specific terms of the plan, including any periodic payment amount required under such plan, such advertisement shall also clearly and conspicuously set forth the following information, in such form and manner as the Bureau may require:
(1) Loan fees and opening cost estimates
Any loan fee the amount of which is determined as a percentage of the credit limit applicable to an account under the plan and an estimate of the aggregate amount of other fees for opening the account, based on the creditor’s experience with the plan and stated as a single amount or as a reasonable range.
(2) Periodic rates
In any case in which periodic rates may be used to compute the finance charge, the periodic rates expressed as an annual percentage rate.
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