Truth in Lending: 6.7.3 Disclosure of Beginning Balance
The periodic statement must disclose the previous balance, i.e., the balance owed at the beginning of the billing period.1387 If the debtor has a positive credit balance, this must be clearly identified so the consumer understands the creditor owes the consumer money.1388 Nevertheless, use of the abbreviation CR, if it is explained elsewhere in the statement, adequately identifies the fact that the consumer has a credit balance.1389 The credi