100.2. The merchant who is a party to a credit contract with a variable credit rate must, at least once a year, send the consumer a statement containing
(a) the credit rate at the beginning and at the end of the period covered by the statement;
(b) the outstanding balance owed by the consumer at the beginning and at the end of the period; and
(c) if the contract provides for scheduled payments, the outstanding balance on the total obligation and the number of remaining payments, based on the credit rate applicable at that time.
If the credit rate is not tied to a reference index, the merchant must also, within 30 days after increasing the credit rate to a rate that is more than one full percentage point higher than the rate most recently disclosed to the consumer, send the consumer a notice containing
(a) the new credit rate;
(b) the date the new rate takes effect; and
(c) how the amount or timing of any payment is affected by the increase in the credit rate.
The first paragraph does not apply if the merchant sent a statement of account to the consumer within the 12 previous months.