Compliance Testing — Periodic Statement Disclosure

What it extracts

14 extraction fields

Statement Overview

A one-look roll-up of the statement's spine - closing date, due date, cycle length, previous and new balance, minimum payment, and the period fee and interest totals - so a reviewer can orient before reading each test.

Required Disclosure Checklist

One row per disclosure required on a credit card periodic statement under 12 CFR 1026.7(b), recording whether each is present and where it appears - the presence test that pairs with the accuracy tests.

New Balance Calculation Accuracy

Recomputes the new balance from the summary of account activity (previous balance less payments and credits, plus purchases, debits, fees, and interest) and flags whether it foots, a check on 1026.7(b)(1) and (b)(10).

Balance Subject to Interest (ADB) Recalculation

Recomputes the average daily balance (the balance subject to the interest rate) for each balance type and compares it to the statement, testing the balance on which the finance charge was computed under 1026.7(b)(4)-(5).

Interest / Finance Charge Recalculation

Recomputes the interest charge per balance type from its APR, balance, and days in the cycle - honoring minimum-interest and deferred/promotional rules - and compares it to the disclosed interest under 1026.7(b)(6)(ii).

Minimum Payment Verification

Recomputes the minimum payment due from the cardholder agreement's threshold, repayment-rate, and credit-plan-payment rules and compares it to the amount disclosed on the statement.

Interest and Fees Totals and Grouping

Tests the charges-imposed disclosures under 1026.7(b)(6): interest and fees grouped under their own headings and separated from transactions, shown for both the statement period and the calendar year to date, with period totals footing to the itemized lines.

Periodic Rates and APR Disclosure

Tests the periodic-rate and APR disclosures under 1026.7(b)(4): each rate labeled as an APR with its range of balances, variable rates indicated, the balance-computation method disclosed, and the APRs consistent with the interest-charge section.

Grace Period and Billing-Error Notice

Tests two required statement disclosures: the grace period under 1026.7(b)(8) and the address for notice of billing errors under 1026.7(b)(9).

Payment Due Date and Late Payment Disclosure

Tests the CARD Act due-date and late-payment-cost disclosures under 1026.7(b)(11): a due date on the same day each cycle, plus the late payment fee and any penalty APR that may apply.

Minimum Payment Warning (Repayment Disclosure)

Tests the minimum-payment warning box required under 1026.7(b)(12): the bold warning, the repayment-time and total-cost estimates, the current-balance assumption statement, a credit-counseling toll-free number, and the 36-month payoff disclosure unless the account is exempt.

Statement Timing (21-Day Rule)

Computes the days between the billing cycle closing date and the payment due date and tests the 21-day minimum required by 1026.5(b)(2)(ii).

Compliance Determination

Rolls the individual tests into a single verdict for the statement - compliant, non-compliant for a missing disclosure, a math error, or a timing failure, or needs manual review - choosing the most severe condition when several apply.

Exceptions and Remediation Notes

The exception log - one row per failed test with its cited subsection, a severity, the finding with disclosed-versus-expected values, and a concrete remediation step - the workpaper a reviewer and remediation team act on.

Where it fits

What it needs

What it produces

Review model

A compliance analyst reviews each flagged exception, the recomputed math, and the cited subsection before a statement is cleared or escalated for remediation.

Who uses it

Volume fit

Grounded in

• Truth in Lending Act / Regulation Z, 12 CFR 1026.7(b) (Periodic statement - open-end, not home-secured)verified as of 2026-07-22
• Regulation Z, 12 CFR 1026.7(b)(6)(ii)-(iii) (Charges imposed - Interest and Fees)verified as of 2026-07-22
• Regulation Z, 12 CFR 1026.7(b)(11) (Due date; late payment costs - CARD Act)verified as of 2026-07-22
• Regulation Z, 12 CFR 1026.7(b)(12) (Repayment disclosures - minimum payment warning, CARD Act)verified as of 2026-07-22
• Regulation Z, 12 CFR 1026.5(b)(2)(ii) (Timing of periodic statements - 21-day rule)verified as of 2026-07-22

Changelog

• July 2026