Answer:
The fee would be a finance charge and would require disclosure in the TIL calculations.
-February 19
Flood - Dodging the BIG Wave , presented by Lucy Griffin and David Dickinson
First published on BankersOnline.com 2/2/03
Automobile Loan Fees For Insurance Tracking
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Question:
We are considering charging each automobile loan a fee for insurance tracking in lieu of obtaining force place insurance on uninsured borrowers. What compliance related issues do we need to take into consideration?
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