Right. But according to sukn, if you purchase the ticket immediately, even if the Hold was available, AA will allow a refund within 24 hours. This is not required by law since Hold was available. This is an extra leniency currently afforded by AA via internal (unpublished) policy.
Cheers.
Yes, this is exactly what I said, and it is indeed current policy.
Obviously AA is interpreting the DOT mandate as, if a customer chose not to hold a fare, then they are entitled to a refund.