Truth in Lending: 7.2.3.1.3 Protections apply to closed or acquired accounts
The protections against increases in the APR, fee, or charge continue to apply to an account after it is closed or acquired by another creditor.60 This provision includes prohibiting any periodic fee based solely on the outstanding or “protected” balance that was not imposed before the account was closed, e.g., a closed account fee.61 A closed account fee is also prohibited by the penalty fee restrictions in Regulation Z.62