This is issue #4 of This Week's Receipts. Each week: the rules and numbers from the source pages we published, each one quoting its source word for word.
Heads-up: FTC payments to Cleo AI customers
The FTC says it plans to send payments to 2,124,796 Cleo AI customers who paid for eligible instant cash advances. The FTC's complaint alleged that Cleo charged additional hidden fees for same-day or instant cash advances.
According to the FTC's October 8 release, consumers who are eligible for a payment will receive an email by October 26, 2026, and PayPal payments are scheduled to begin October 27, 2026; the FTC says recipients should redeem their PayPal payment within 30 days.
The FTC lists the refund administrator, Rust Consulting Inc., at 877-788-4958 for questions.
The FTC's own warning: "The Commission never requires people to pay money or provide account information to receive a payment."
This week's receipts
1. Regulation Z Bars Credit Card APR Increases Except in Listed Cases
Several of the exceptions also limit which transactions the higher rate can apply to.
Source: 12 CFR § 1026.55 (Regulation Z), eCFR · CFPB, Regulation Z § 1026.55 · CFPB, Ask CFPB: When can my credit card company increase my interest rate?
2. Credit Reports: A 7-Year Limit for Most Negative Items, 10 for Bankruptcies — With Exceptions
15 U.S.C. § 1681c lists the periods, when the clock starts, and the reports the limits do not apply to.
Source: 15 U.S.C. § 1681c (Fair Credit Reporting Act § 605), U.S. Code · CFPB, Ask CFPB: How long does information stay on my credit report?
3. Check Holds: Regulation CC's $275 Next-Business-Day Rule and Its Exceptions
Up to $275 of certain check deposits must be available the next business day, and the rule lists exceptions.
Source: 12 CFR § 229.10 · § 229.11 · § 229.12 · § 229.13 · § 229.16 · § 229.17 · Appendix C · Appendix E (Regulation CC, on eCFR) · Federal Register, January 5, 2010
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