Thanks Whateve! I got it super cheap and was surprised when it showed up what a nice bag it is and what good shape it was in.I think it was called Legacy Flap. The loop is to hold the strap together when you double it. This bag also has the leather trim around the inside pockets that they don't do much anymore and the inside ring to attach your keys.
- PS Sorry to all for the double photos - that seems to be an issue with the iPhone app. Every time I post photos from the app they are doubled.