source:
  type: regulation
  id: tila-15usc-1647
  authority: TILA (Truth in Lending Act, 15 U.S.C.) § 1647 — Home equity plans
  description: 'TILA (Truth in Lending Act, 15 U.S.C.), §1647 Home equity plans. Captured section-complete from
    Cornell LII (verbatim).

    '
obligations:
- id: tila-15usc-1647-a
  canonical_id: tila-15usc-1647-a
  section: 15 U.S.C. §1647(a)
  description: 'Home equity plans — (a): (a) Index requirement In the case of extensions of credit under an open
    end consumer credit plan which are subject to a variable rate and are secured by a consumer’s principal dwelling,
    the index or other rate of interest to which changes in the annual percentage rate are related shall be based
    on a…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: TILA (Truth in Lending Act, 15 U.S.C.) § 1647
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/15/1647
    snapshot_id: 78bce1a026676bb4
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f74c62f6bd434579d35239eeb0bfacaf973a8be0415b7f12ac24ac7b96f7471c
    paragraph_quote: (a) Index requirement In the case of extensions of credit under an open end consumer credit
      plan which are subject to a variable rate and are secured by a consumer’s principal dwelling, the index or
      other rate of interest to which changes in the annual percentage rate are related shall be based on an index
      or rate of interest which is publicly available and is not under the control of the creditor .
    drafter_attestation: Verbatim slice of 15 U.S.C. §1647 subsection (a) from Cornell LII snapshot 78bce1a026676bb4;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: tila-15usc-1647-b
  canonical_id: tila-15usc-1647-b
  section: 15 U.S.C. §1647(b)
  description: 'Home equity plans — (b): (b) Grounds for acceleration of outstanding balance A creditor may not
    unilaterally terminate any account under an open end consumer credit plan under which extensions of credit are
    secured by a consumer’s principal dwelling and require the immediate repayment of any outstanding balance at
    such time…'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: TILA (Truth in Lending Act, 15 U.S.C.) § 1647
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/15/1647
    snapshot_id: 78bce1a026676bb4
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f74c62f6bd434579d35239eeb0bfacaf973a8be0415b7f12ac24ac7b96f7471c
    paragraph_quote: (b) Grounds for acceleration of outstanding balance A creditor may not unilaterally terminate
      any account under an open end consumer credit plan under which extensions of credit are secured by a consumer’s
      principal dwelling and require the immediate repayment of any outstanding balance at such time, except in
      the case of— (1) fraud or material misrepresentation on the part of the consumer in connection with the account;
      (2) failure by the consumer to meet the repayment terms of the agreement for any outstanding balance; or (3)
      any other action or failure to act by the consumer which adversely affects the creditor ’s security for the
      account or any right of the creditor in such security. This subsection does not apply to reverse mortgage
      transactions.
    drafter_attestation: Verbatim slice of 15 U.S.C. §1647 subsection (b) from Cornell LII snapshot 78bce1a026676bb4;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: tila-15usc-1647-c
  canonical_id: tila-15usc-1647-c
  section: 15 U.S.C. §1647(c)
  description: 'Home equity plans — (c): (c) Change in terms (1) In general No open end consumer credit plan under
    which extensions of credit are secured by a consumer’s principal dwelling may contain a provision which permits
    a creditor to change unilaterally any term required to be disclosed under section 1637a(a) of this title or
    any ot…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: TILA (Truth in Lending Act, 15 U.S.C.) § 1647
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/15/1647
    snapshot_id: 78bce1a026676bb4
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f74c62f6bd434579d35239eeb0bfacaf973a8be0415b7f12ac24ac7b96f7471c
    paragraph_quote: '(c) Change in terms (1) In general No open end consumer credit plan under which extensions
      of credit are secured by a consumer’s principal dwelling may contain a provision which permits a creditor
      to change unilaterally any term required to be disclosed under section 1637a(a) of this title or any other
      term, except a change in insignificant terms such as the address of the creditor for billing purposes. (2)
      Certain changes not precluded Notwithstanding the provisions of subsection [1] (1), a creditor may make any
      of the following changes: (A) Change the index and margin applicable to extensions of credit under such plan
      if the index used by the creditor is no longer available and the substitute index and margin would result
      in a substantially similar interest rate. (B) Prohibit additional extensions of credit or reduce the credit
      limit applicable to an account under the plan during any period in which the value of the consumer’s principal
      dwelling which secures any outstanding balance is significantly less than the original appraisal value of
      the dwelling. (C) Prohibit additional extensions of credit or reduce the credit limit applicable to the account
      during any period in which the creditor has reason to believe that the consumer will be unable to comply with
      the repayment requirements of the account due to a material change in the consumer’s financial circumstances.
      (D) Prohibit additional extensions of credit or reduce the credit limit applicable to the account during any
      period in which the consumer is in default with respect to any material obligation of the consumer under the
      agreement. (E) Prohibit additional extensions of credit or reduce the credit limit applicable to the account
      during any period in which—'
    drafter_attestation: Verbatim slice of 15 U.S.C. §1647 subsection (c) from Cornell LII snapshot 78bce1a026676bb4;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: tila-15usc-1647-i
  canonical_id: tila-15usc-1647-i
  section: 15 U.S.C. §1647(i)
  description: 'Home equity plans — (i): (i) the creditor is precluded by government action from imposing the annual
    percentage rate provided for in the account agreement; or (ii) any government action is in effect which adversely
    affects the priority of the creditor ’s security interest in the account to the extent that the value of the
    c…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: TILA (Truth in Lending Act, 15 U.S.C.) § 1647
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/15/1647
    snapshot_id: 78bce1a026676bb4
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f74c62f6bd434579d35239eeb0bfacaf973a8be0415b7f12ac24ac7b96f7471c
    paragraph_quote: (i) the creditor is precluded by government action from imposing the annual percentage rate
      provided for in the account agreement; or (ii) any government action is in effect which adversely affects
      the priority of the creditor ’s security interest in the account to the extent that the value of the creditor
      ’s secured interest in the property is less than 120 percent of the amount of the credit limit applicable
      to the account. (F) Any change that will benefit the consumer. (3) Material obligations Upon the request of
      the consumer and at the time an agreement is entered into by a consumer to open an account under an open end
      consumer credit plan under which extensions of credit are secured by the consumer’s principal dwelling, the
      consumer shall be given a list of the categories of contract obligations which are deemed by the creditor
      to be material obligations of the consumer under the agreement for purposes of paragraph (2)(D). (4) Consumer
      benefit (A) In general For purposes of paragraph (2)(F), a change shall be deemed to benefit the consumer
      if the change is unequivocally beneficial to the borrower and the change is beneficial through the entire
      term of the agreement. (B) Bureau categorization The Bureau may, by regulation, determine categories of changes
      that benefit the consumer.
    drafter_attestation: Verbatim slice of 15 U.S.C. §1647 subsection (i) from Cornell LII snapshot 78bce1a026676bb4;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: tila-15usc-1647-d
  canonical_id: tila-15usc-1647-d
  section: 15 U.S.C. §1647(d)
  description: 'Home equity plans — (d): (d) Terms changed after application If any term or condition described
    in section 1637a(a) of this title which is disclosed to a consumer in connection with an application to open
    an account under an open end consumer credit plan described in such section (other than a variable feature of
    the plan) …'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: TILA (Truth in Lending Act, 15 U.S.C.) § 1647
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/15/1647
    snapshot_id: 78bce1a026676bb4
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f74c62f6bd434579d35239eeb0bfacaf973a8be0415b7f12ac24ac7b96f7471c
    paragraph_quote: (d) Terms changed after application If any term or condition described in section 1637a(a)
      of this title which is disclosed to a consumer in connection with an application to open an account under
      an open end consumer credit plan described in such section (other than a variable feature of the plan) changes
      before the account is opened, and if, as a result of such change, the consumer elects not to enter into the
      plan agreement, the creditor shall refund all fees paid by the consumer in connection with such application.
    drafter_attestation: Verbatim slice of 15 U.S.C. §1647 subsection (d) from Cornell LII snapshot 78bce1a026676bb4;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
- id: tila-15usc-1647-e
  canonical_id: tila-15usc-1647-e
  section: 15 U.S.C. §1647(e)
  description: 'Home equity plans — (e): (e) Additional requirements relating to refunds and imposition of nonrefundable
    fees (1) In general No nonrefundable fee may be imposed by a creditor or any other person in connection with
    any application by a consumer to establish an account under any open end consumer credit plan which provides
    fo…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: TILA (Truth in Lending Act, 15 U.S.C.) § 1647
    source_class: usc-statute-lii
    source_url: https://www.law.cornell.edu/uscode/text/15/1647
    snapshot_id: 78bce1a026676bb4
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f74c62f6bd434579d35239eeb0bfacaf973a8be0415b7f12ac24ac7b96f7471c
    paragraph_quote: (e) Additional requirements relating to refunds and imposition of nonrefundable fees (1) In
      general No nonrefundable fee may be imposed by a creditor or any other person in connection with any application
      by a consumer to establish an account under any open end consumer credit plan which provides for extensions
      of credit which are secured by a consumer’s principal dwelling before the end of the 3-day period beginning
      on the date such consumer receives the disclosure required under section 1637a(a) of this title and the pamphlet
      required under section 1637a(e) of this title with respect to such application. (2) Constructive receipt For
      purposes of determining when a nonrefundable fee may be imposed in accordance with this subsection if the
      disclosures and pamphlet referred to in paragraph (1) are mailed to the consumer, the date of the receipt
      of the disclosures by such consumer shall be deemed to be 3 business days after the date of mailing by the
      creditor . ( Pub. L. 90–321, title I, § 137 , as added Pub. L. 100–709, § 3 , Nov. 23, 1988 , 102 Stat. 4731
      ; amended Pub. L. 103–325, title I, § 154(c) , Sept. 23, 1994 , 108 Stat. 2197 ; Pub. L. 111–203, title X,
      § 1100A(2) , July 21, 2010 , 124 Stat. 2107 .) [1] So in original. Probably should be “paragraph”.
    drafter_attestation: Verbatim slice of 15 U.S.C. §1647 subsection (e) from Cornell LII snapshot 78bce1a026676bb4;
      body isolated between nav and Editorial/Statutory Notes; substring-verified.
  judgment: false
