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(1) “Open-end credit package” has got the definition set forth in Regulation Z of your own Government Set-aside System ( a dozen C.F.R. 226.2(a)(20) ).

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(3) “ Payment financing feature ” setting a component out of an open-end borrowing plan which provides having another type of subaccount of open-end credit package pursuant to which the principal out-of, and you will focus for the, the loan in the that subaccount should be paid down within the substantially equal payments more than a designated period in the place of mention of this new count a good significantly less than virtually any ability of your own discover-avoid borrowing plan and/or payment plan depending on the other feature. (more…)