Minn. R. agency 197, ch. 9700, pt. 9700.0200

Current through Register Vol. 49, No. 19, November 4, 2024
Part 9700.0200 - CREDIT CARD DISCLOSURES REPORT
Subpart 1.Requirement.

A creditor who distributes its own credit card application within the state of Minnesota shall complete and file the credit card disclosure report form contained in this part.

Subp. 2.Procedures.

A creditor shall file a credit card disclosure report form with the Department of Management and Budget on December 31 of each year beginning in 1992. The information provided must be current as of January 1 of the following year.

Subp. 3.Report form.

The following form must be used in conjunction with this chapter:

DEPARTMENT OF MANAGEMENT AND BUDGET

TREASURY DIVISION

CREDIT CARD DESK

303 ADMINISTRATION BUILDING

SAINT PAUL, MINNESOTA 55155

MINNESOTA CREDIT CARD DISCLOSURE REPORTFORM

Minnesota Statutes, section 325G.415, requires any creditor who distributes its own credit card application in Minnesota to annually file certain information regarding this credit with the commissioner of management and budget. The Minnesota Credit Card Disclosure Report Form must be filed annually with the Department of Management and Budget no later than December 31. The information contained in the report must be current as of January 1 of the following year.

INSTRUCTIONS

A.You are not required to file this form if you merely distribute credit card applications on behalf of a creditor other than yourself.
B.You may, but are not required to, provide the commissioner of management and budget with the name and address of any creditor for whom you distribute credit card applications. Please use the space provided on the next line. Use additional sheets if necessary.
_____
C.Use one form for each credit card offered.
D.Give specific dollar amounts or percentage rates charged to Minnesotans. Do not use ranges.
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1._____
Name of Creditor
2._____
Street and/or P.O. Address
3._____ _____ _____
CityStateZip Code
4._____ _____
Name of Person Preparing this FormPhone
5._____
Name of Credit Card
6._____ Amount of any membership, participation, or similar fee that may be imposed as a condition of the issuance or renewal of the credit card, expressed as an annual amount.
7._____ Charges for exceeding credit limits.
8._____ Amount of late payment fees.
9.Credit PurchasesCash Advances
_____ _____ Annual Percentage Rate (A.P.R.) charged to Minnesotans.
_____ _____ Is the A.P.R. a variable rate?
_____ _____ If variable, identify the index used, if any.
_____ _____ If variable, what is the "spread" from the index?
_____ _____ Amount of any minimum, fixed, transaction, activity, or similar charge.
_____ _____ The date or occasion upon which the finance charge, if any, begins to accrue on the transaction; that is, the grace period. (For example, "25 days after statement closing date").
_____ _____ Is the entire credit card balance due and payable upon receipt of a periodic statement of charges?
_____ _____ Amount of any fees charged other than those listed above.
10.Set forth below any other information which you believe would clarify the information provided above: (Use additional sheets if necessary)
_____
_____
_____
_____
11.Please attach a list of organizations through which the creditor offers credit cards in Minnesota.
_____ _____
Signature and Title of Creditor's RepresentativeDate
MAIL FORM TO:Department of Management and Budget Treasury Division ATTN: Credit Card Desk 303 Administration Building St. Paul, Minnesota 55155

Minn. R. agency 197, ch. 9700, pt. 9700.0200

17 SR 1357; L 2003 c 112 art 2 s 50; L 2009 c 101 art 2s 109

Statutory Authority: MS s 325G.415