(a) Authority. A national bank is authorized to enter into debt cancellation contracts and debt suspension agreements and charge a fee therefor, in connection with extensions of credit that it makes, pursuant to 12 U.S.C. 24(Seventh).
(b) Purpose. This part sets forth the standards that apply to debt cancellation contracts and debt suspension agreements entered into by national banks. The purpose of these standards is to ensure that national banks offer and implement such contracts and agreements consistent with safe and sound banking practices, and subject to appropriate consumer protections.
(c) Scope. This part applies to debt cancellation contracts and debt suspension agreements entered into by national banks in connection with extensions of credit they make. National banks' debt cancellation contracts and debt suspension agreements are governed by this part and applicable Federal law and regulations, and not by part 14 of this chapter or by State law.
Notes of Decisions
Philip Decohen v. Capital One, N.A., 703 F.3d 216 (4th Cir. 2012).
· cites it 4× “at *6 (quoting 12 C.F.R. § 37.1 (a)). The court then noted that under the NBA, a debt cancellation contract is defined as a “ ‘loan term of contractual arrangement .”
Hawaii ex rel. Louie v. JP Morgan Chase & Co., 907 F. Supp. 2d 1188 (D. Haw. 2012).
· cites it 3× “at 5 (citing 12 C.F.R. § 37.1 (a)).] According to Defendants: Payment protection plans extend additional credit to credit card holders by relieving or suspending their obligation to repay their credit card debt under certain circumstances.”
Spinelli v. Capital One Bank, 265 F.R.D. 598 (M.D. Fla. 2009).
· cites it 2× “” 12 C.F.R. § 37.1 (c) (emphasis added). In addition, the Court determines that field preemption also applies because the OCC’s comprehensive scheme of regulation leaves no room for state law when it comes to Debt Agreements.”
Arevalo v. Bank of Am. Corp., 850 F. Supp. 2d 1008 (N.D. Cal. 2011).
“” 12 C.F.R. § 37.1 (c). Bank of America argues that this regulation expressly preempts Plaintiffs’ claims under California’s consumer protection statutes such as the CLRA, UCL, and FAL.”
Gordon v. Kohl's Dep't Stores, Inc., 172 F. Supp. 3d 840 (E.D. Pa. 2016).
· cites it 2× “” 12 C.F.R. § 37.1 (c). 15 The substantive provisions of Part 37 set forth a comprehensive regulatory framework governing prohibited practices (Part 37.”
Labarrere-Abreu v. Carvana Co. (D.N.M. 2025).
“” 12 C.F.R. § 37.1 (stating Part 37 “sets forth the standards that apply to debt cancellation contracts and debt suspension agreements entered into by national banks” and that the “purpose of these standards is to ensure that national banks offer and implement such contracts and…”
Labarrere-Abreu v. Carvana Co. (D.N.M. 2025).
“” 12 C.F.R. § 37.1 (stating Part 37 “sets forth the standards that apply to debt cancellation contracts and debt suspension agreements entered into by national banks” and that the “purpose of these standards is to ensure that national banks offer and implement such contracts and…”
Jeffords v. Bank of Am. Corp. (Me. Super. Ct 2012).
“" 12 C.F.R. 37.1(c) (emphasis added. Federal regulations of disability would likely require updated information from a treating physician.”
— 12 C.F.R. § 37.1(c) — 1 case
Jeffords v. Bank of Am. Corp. (Me. Super. Ct 2012).
“" 12 C.F.R. 37.1(c) (emphasis added. Federal regulations of disability would likely require updated information from a treating physician.”
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