C.F.R. » Title 12 » CHAPTER II—FEDERAL RESERVE SYSTEM › SUBCHAPTER A—BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM › PART 226—TRUTH IN LENDING (REGULATION Z) › Subpart B—Open-End Credit

12 C.F.R. § 226.8

Identifying transactions on periodic statements

Read at: eCFRecfr.gov CornellLII GovInfogovinfo.gov CasesGoogle Scholar

The creditor shall identify credit transactions on or with the first periodic statement that reflects the transaction by furnishing the following information, as applicable. 16

16 [Reserved]

(a) Sale credit. (1) Except as provided in paragraph (a)(2) of this section, for each credit transaction involving the sale of property or services, the creditor must disclose the amount and date of the transaction, and either:

(i) A brief identification 17 of the property or services purchased, for creditors and sellers that are the same or related; 18 or

17 [Reserved]

18 [Reserved]

(ii) The seller's name; and the city and state or foreign country where the transaction took place. 19 The creditor may omit the address or provide any suitable designation that helps the consumer to identify the transaction when the transaction took place at a location that is not fixed; took place in the consumer's home; or was a mail, Internet, or telephone order.

19 [Reserved]

(2) Creditors need not comply with paragraph (a)(1) of this section if an actual copy of the receipt or other credit document is provided with the first periodic statement reflecting the transaction, and the amount of the transaction and either the date of the transaction to the consumer's account or the date of debiting the transaction are disclosed on the copy or on the periodic statement.

(b) Nonsale credit. For each credit transaction not involving the sale of property or services, the creditor must disclose a brief identification of the transaction; 20 the amount of the transaction; and at least one of the following dates: The date of the transaction, the date the transaction was debited to the consumer's account, or, if the consumer signed the credit document, the date appearing on the document. If an actual copy of the receipt or other credit document is provided and that copy shows the amount and at least one of the specified dates, the brief identification may be omitted.

20 [Reserved]

(c) Alternative creditor procedures; consumer inquiries for clarification or documentation. The following procedures apply to creditors that treat an inquiry for clarification or documentation as a notice of a billing error, including correcting the account in accordance with § 226.13(e):

(1) Failure to disclose the information required by paragraphs (a) and (b) of this section is not a failure to comply with the regulation, provided that the creditor also maintains procedures reasonably designed to obtain and provide the information. This applies to transactions that take place outside a state, as defined in § 226.2(a)(26), whether or not the creditor maintains procedures reasonably adapted to obtain the required information.

(2) As an alternative to the brief identification for sale or nonsale credit, the creditor may disclose a number or symbol that also appears on the receipt or other credit document given to the consumer, if the number or symbol reasonably identifies that transaction with that creditor.

[75 FR 7806, Feb. 22, 2010]
Notes of Decisions
Cited in 437 cases, 1970–2006 · leading case: Ford Motor Credit Co. v. Milhollin, 444 U.S. 555 (1980).
Sort: Relevance Newest Treatment
Ford Motor Credit Co. v. Milhollin, 444 U.S. 555 (1980). · cites it 15× “See 12 CFR § 226.8 (b) (7) (1979). Implicit in the conclusion of the Court of Appeals—and explicit in its preceding St.”
Anderson Bros. Ford v. Valencia, 452 U.S. 205 (1981). · cites it 10× “" 12 CFR § 226.8 (b) (5) (1980). Respondents sought statutory damages, attorney's fees, and costs.”
Melvin McGowan v. King, Inc., 569 F.2d 845 (5th Cir. 1978). · cites it 8× “§ 226-8 (c)(4); (2) it failed to disclose and use the term “unpaid balance” as required by 12 C.F.R. § 226.8 (c)(5); and (3) it used a confusing “Rebate for Payment in Full” paragraph.”
Vines v. Hodges, 422 F. Supp. 1292 (D.D.C. 1976). · cites it 15× “§ 1638 and 12 C.F.R. § 226.8 (a), (b) and (c). Defendants admit, and the record reflects, that they violated those requirements in the following respects: (1) not all required disclosures were made prior to consummation of the contract; 11 (2) not all required disclosures were…”
Shirley M. Pridegon v. Gates Credit Union, 683 F.2d 182 (7th Cir. 1982). · cites it 8× “Because of this ambiguity and because the presence or absence of a signature on the reverse side of the document is a technicality which does little to accomplish the purposes of the Truth in Lending Act, this Court liberally construes 12 CFR § 226.8 (a) and Interpretation § 226.”
Luis & Margaret Vega, Individually & on Behalf of Others Similarly Situated v. First Fed. Sav. & Loan Ass'n of Detroit, 622 F.2d 918 (1st Cir. 1980). · cites it 7× “8 of Regulation Z, 12 C.F.R. § 226.8 . One of the items to be disclosed is the finance charge on the loan “expressed as an annual percentage rate.”
Gillard v. Aetna Fin. Co., Inc., 414 F. Supp. 737 (E.D. La. 1976). · cites it 9× “The Fourth Circuit disagreed with this portion of the lower court’s decision, however, and stated that the itemization rule of 12 C.F.R. § 226.8 (d)(1) probably required the separate disclosure of the cost of health and accident insurance.”
David Gantt & Phyllis Gantt v. Commonwealth Loan Co., a Delaware Corp., D/B/A Beneficial Fin. Co., 573 F.2d 520 (8th Cir. 1978). · cites it 9× “4 (a)(5); and (2) appellee’s failure, in this refinancing transaction, to include in the new finance charge the difference between unearned finance charge rebates as calculated under the actuarial method and the Rule of 78’s method violated 12 C.F.R. § 226.8 (j). We reject both…”
Mildred Ives v. W. T. Grant Co., 522 F.2d 749 (2d Cir. 1975). · cites it 7× “12 C.F.R. § 226.8 (c)(5), 14 and held that this constituted a violation of the Act.”
Tarplain v. Baker Ford, Inc., 466 F. Supp. 1340 (D.R.I. 1979). · cites it 10× “(Truth-in-Lending Act) and regulations of the Federal Reserve Board issued thereunder, Regulation Z, 12 C.F.R. § 226.8 , were violated by a credit sale contract furnished by the defendant and signed by the plaintiffs.”
King v. Cent. Bank, 558 P.2d 857 (Cal. 1977). · cites it 4× “In particular, it is alleged that the contract between the parties failed to specify the "cash price," "unpaid balance of cash price," or "deferred payment price," as those terms are used in the federal regulations (see 12 C.F.R. § 226.8 (c)), and that the contract failed to set…”
James L. Martin v. Com. Sec. Co., Inc., 539 F.2d 521 (5th Cir. 1976). · cites it 5× “-8(b)(4), 12 C.F.R. § 226.8 (b)(4). These issues were submitted to the court on cross motions for summary judgment.”
Show all 437 citing cases →
— 12 C.F.R. § 226.8(1) — 1 case
Franklin v. First Money, Inc., 427 F. Supp. 66 (E.D. La. 1976).
— 12 C.F.R. § 226.8(2) — 1 case
Cont'l Acceptance Corp. v. Rivera, 363 N.E.2d 772 (Ohio Ct. App. 1976).
— 12 C.F.R. § 226.8(a) — 16 cases
Jones v. Allied Loans, Inc., 447 F. Supp. 1121 (D.S.C. 1977).
Cenance v. Bohn Ford, Inc., 430 F. Supp. 1064 (E.D. La. 1977).
Calvin Morgan Bissette, & Frances T. Bissette, for Themselves & for All Others Similarly Situated v. Colonial Mortg. Corp. of D. C., 477 F.2d 1245 (D.C. Cir. 1973).
Whitlock v. Midwest Acceptance Corp., 449 F. Supp. 631 (E.D. Mo. 1977).
Dixey v. Idaho First Nat'l Bank, 505 F. Supp. 846 (D. Idaho 1981).
— 12 C.F.R. § 226.8(a)(1) — 1 case
Murphy v. Ford Motor Credit Co., 477 F. Supp. 59 (E.D. Mo. 1979).
— 12 C.F.R. § 226.8(a)(5) — 1 case
Joyce v. Clover-Brook Homes, Inc., 344 S.E.2d 58 (N.C. Ct. App. 1986).
— 12 C.F.R. § 226.8(a)(i) — 1 case
Washington Motor Sales v. Ferreira, 329 A.2d 599 (N.J. Super. Ct. App. Div. 1974).
— 12 C.F.R. § 226.8(b) — 3 cases
Termplan Mid-City Inc. v. Laughlin, 333 So. 2d 738 (La. Ct. App. 1976).
Joyce Stewart v. Ford Motor Credit Co., 685 F.2d 391 (11th Cir. 1982).
Johnson v. Assocs. Fin., Inc., 369 F. Supp. 1121 (S.D. Ill. 1974).
— 12 C.F.R. § 226.8(b)(2) — 1 case
Horace Lee Earl v. Clayton Beaulieu, D/B/A Clayton's Garage, 620 F.2d 101 (5th Cir. 1980).
— 12 C.F.R. § 226.8(b)(3) — 2 cases
Austin C. Palmer & Helen M. Palmer, Husband & Wife v. Gladys S. Wilson, 502 F.2d 860 (9th Cir. 1974).
Horace Lee Earl v. Clayton Beaulieu, D/B/A Clayton's Garage, 620 F.2d 101 (5th Cir. 1980).
— 12 C.F.R. § 226.8(b)(4) — 8 cases
Franklin v. First Money, Inc., 427 F. Supp. 66 (E.D. La. 1976).
Streets v. M.G.I.C. Mortg. Corp., 378 N.E.2d 915 (Ind. Ct. App. 1978).
Termplan Mid-City Inc. v. Laughlin, 333 So. 2d 738 (La. Ct. App. 1976).
Whitlock v. Midwest Acceptance Corp., 449 F. Supp. 631 (E.D. Mo. 1977).
Jones v. Allied Loans, Inc., 447 F. Supp. 1121 (D.S.C. 1977).
— 12 C.F.R. § 226.8(b)(5) — 15 cases
Bill Travis & Joyce Travis, Cross-Appellants v. Trust Co. Bank, Cross-Appellee. Joyce Travis v. Trust Co. Bank, 621 F.2d 148 (5th Cir. 1980).
Horace Lee Earl v. Clayton Beaulieu, D/B/A Clayton's Garage, 620 F.2d 101 (5th Cir. 1980).
Ballew v. Assocs. Fin. Ser. Co. of Neb., Inc., 450 F. Supp. 253 (D. Neb. 1976).
Streets v. M.G.I.C. Mortg. Corp., 378 N.E.2d 915 (Ind. Ct. App. 1978).
Brown v. Providence Gas Co., 445 F. Supp. 459 (D.R.I. 1976).
— 12 C.F.R. § 226.8(b)(6) — 3 cases
David Gantt & Phyllis Gantt v. Commonwealth Loan Co., a Delaware Corp., D/B/A Beneficial Fin. Co., 573 F.2d 520 (8th Cir. 1978). “4 (a)(5); and (2) appellee’s failure, in this refinancing transaction, to include in the new finance charge the difference between unearned finance charge rebates as calculated under the actuarial method and the Rule of 78’s method violated 12 C.F.R. § 226.8 (j). We reject both…”
Richenberger v. Chrysler Credit Corp., 547 S.W.2d 933 (Tenn. 1977).
Wyman v. Brookline Sav. Bank, 3 Mass. Supp. 74 (Mass. Super. Ct. 1981).
— 12 C.F.R. § 226.8(b)(7) — 6 cases
Gen. Motors Acceptance Corp. v. Willis (In Re Willis), 6 B.R. 555 (Bankr. N.D. Ill. 1980).
Heastie v. Cmty. Bank of Greater Peoria, 690 F. Supp. 716 (N.D. Ill. 1988).
Joyce Stewart v. Ford Motor Credit Co., 685 F.2d 391 (11th Cir. 1982).
In the Matter of Donald L. Dingledine, Debtor-Appellant, 916 F.2d 408 (7th Cir. 1990).
McDaniel v. Fulton Nat'l Bank of Atlanta, 395 F. Supp. 422 (N.D. Ga. 1975).
— 12 C.F.R. § 226.8(c) — 3 cases
Carrie Mars v. Spartanburg Chrysler Plymouth, Inc. & First Nat'l Bank of South Carolina, 713 F.2d 65 (1st Cir. 1983).
Meyers v. Clearview Dodge Sales, Inc., 384 F. Supp. 722 (E.D. La. 1974).
Whitlock v. Midwest Acceptance Corp., 449 F. Supp. 631 (E.D. Mo. 1977).
— 12 C.F.R. § 226.8(c)(4) — 1 case
Rounds v. Cmty. Nat. Bank in Monmouth, 454 F. Supp. 883 (S.D. Ill. 1978).
— 12 C.F.R. § 226.8(c)(8) — 1 case
Jan Downey v. Whaley-Lamb Ford Sales, Inc., 607 F.2d 1093 (5th Cir. 1979).
— 12 C.F.R. § 226.8(c)(8)(i) — 3 cases
Jones v. East Hills Ford Sales, Inc., 398 F. Supp. 402 (W.D. Pa. 1975).
Boncyk v. Cavanaugh Motors, 673 F.2d 256 (9th Cir. 1981).
John Boncyk v. Cavanaugh Motors, a P'ship, & Bank of Am., a Corp., Cavanaugh Motors, Sherry Hughes v. Walt Martin Motors, Inc., & Bank of Am., a Corp., Walt Martin Motors, Inc., John Boncyk v. Cavanaugh Motors, a P'ship, & Bank of Am., a Corp., Bank of Am., a Corp., Sherry Hughes v. Walt Martin Motors, Inc., & Bank of Am., a Corp., Bank of Am., a Corp., John Boncyk v. Cavanaugh Motors, a P'ship, & Bank of Am., a Corp., Sherry Hughes v. Walt Martin Motors, Inc., & Bank of Am., a Corp., 673 F.2d 256 (9th Cir. 1982).
— 12 C.F.R. § 226.8(d) — 3 cases
Cont'l Acceptance Corp. v. Rivera, 363 N.E.2d 772 (Ohio Ct. App. 1976).
Simmons v. Am. Budget Plan, Inc., 386 F. Supp. 194 (E.D. La. 1974).
Grubb v. Oliver Enter., Inc., 358 F. Supp. 970 (N.D. Ga. 1972).
— 12 C.F.R. § 226.8(d)(1) — 2 cases
Whitlock v. Midwest Acceptance Corp., 449 F. Supp. 631 (E.D. Mo. 1977).
Reliable Fin. Co. v. Jenkins, 454 N.E.2d 993 (Oh. Muni. Ct., Hamilton 1982).
— 12 C.F.R. § 226.8(d)(3) — 4 cases
Termplan Mid-City Inc. v. Laughlin, 333 So. 2d 738 (La. Ct. App. 1976).
Trist v. First Fed. S. & L. Ass'n of Chester, 466 F. Supp. 578 (E.D. Pa. 1979).
Simmons v. Am. Budget Plan, Inc., 386 F. Supp. 194 (E.D. La. 1974).
Chapman v. Fairfax Fam. Fund, Inc. (In re Chapman), 33 B.R. 784 (D.R.I. 1983).
— 12 C.F.R. § 226.8(j) — 6 cases
Campbell v. Gen. Fin. Corp. of Virginia, 523 F. Supp. 989 (W.D. Va. 1981).
Sheppard v. GMAC Mortg. Corp. (In Re Sheppard), 299 B.R. 753 (Bankr. E.D. Pa. 2003).
Ross v. Citifinancial Mortg. Co. (In Re Ross), 338 B.R. 266 (Bankr. E.D. Pa. 2006).
Anderson v. Pamlico Chem. Co., Inc., 470 F. Supp. 12 (E.D.N.C. 1977).
Rehavam Adiel v. Chase Fed. Sav. & Loan Ass'n, 810 F.2d 1051 (11th Cir. 1987).
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.