Truth in Lending: 11(c) Timely Settlement of Estate Debts.
1. Administrator of an estate. For purposes of § 1026.11(c), the term “administrator” means an administrator, executor, or any personal representative of an estate who is authorized to act on behalf of the estate.
2. Examples. The following are examples of reasonable procedures that satisfy this rule:
i. A card issuer may decline future transactions and terminate the account upon receiving reasonable notice of the consumer’s death.