Chase Bank USA, N. A. v. McCoy
Supreme Court of the United States
1Opinion of the CourtJustice Sotomayor
As applicable to this case, Regulation Z — promulgated by the Board of Governors of the Federal Reserve System (Board) pursuant to its authority under the Truth in Lending Act (TILA), 82 Stat. 146, 15 U. S. C. § 1601 et seq. — requires that issuers of credit cards provide cardholders with an “[i]nitial disclosure statement” specifying, inter alia, “each periodic rate” associated with the account. 12 CFR § 226.6(a)(2) (2008). The regulation also imposes “[sjubse-quent disclosure requirements,” including notice to cardholders “[w]henever any term required to be disclosed under §226.6 is…
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