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Discover comments 2(o)-1 and you may -2 getting a discussion of open-stop line of credit and you can extension regarding credit

Paragraph cuatro(a)(37) 1. Open-end personal line of credit. Except for partially exempt deals lower than 1003.3(d), 1003.4(a)(37) means a financial institution to recognize perhaps the protected mortgage otherwise the applying is for an open-prevent credit line. Paragraph 4(a)(38) step 1. First objective. With the exception…