2018 US Code
Title 15 - Commerce and Trade
Chapter 41 - Consumer Credit Protection
Subchapter I - Consumer Credit Cost Disclosure
Part B - Credit Transactions
Sec. 1639f - Requirements for prompt crediting of home loan payments
| 15 U.S.C. § 1639f (2018) |
| §1639f. Requirements for prompt crediting of home loan payments |
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(a) In general
In connection with a consumer credit transaction secured by a consumer's principal dwelling, no servicer shall fail to credit a payment to the consumer's loan account as of the date of receipt, except when a delay in crediting does not result in any charge to the consumer or in the reporting of negative information to a consumer reporting agency, except as required in subsection (b). (b) ExceptionIf a servicer specifies in writing requirements for the consumer to follow in making payments, but accepts a payment that does not conform to the requirements, the servicer shall credit the payment as of 5 days after receipt. |
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(Pub. L. 90–321, title I, §129F, as added Pub. L. 111–203, title XIV, §1464(a), July 21, 2010, 124 Stat. 2184.) |
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EFFECTIVE DATE
Section effective on the date on which final regulations implementing such section take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under section 1601 of this title. |
| United States Code, 2018 Edition, Title 15 - COMMERCE AND TRADE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 15 - COMMERCE AND TRADE CHAPTER 41 - CONSUMER CREDIT PROTECTION SUBCHAPTER I - CONSUMER CREDIT COST DISCLOSURE Part B - Credit Transactions Sec. 1639f - Requirements for prompt crediting of home loan payments |
| section 1639f |
| 2018 |
| January 14, 2019 |
| No |
| standard |
| 124 Stat. 2184 |
| Public Law 90-321, Public Law 111-203 |
