Ray, I have a question about code 15 16 35 and 15 1605. I…

I have read them several times now and I am not sure that I can see where they were violated. At the risk of being embarrassed, can you point me to the provisions that you believe these terms violate?

The first code section is located here:

https://www.law.cornell.edu/uscode/text/15/1635

It concerns the right of a buyer to rescind a contract, but there does not appear to be anything concerning a prohibition on cash deposits or insurance.

The paragraph you just quoted to me is here:

(c) Property damage and liability insurance premiums included in finance charge

Charges or premiums for insurance, written in connection with any consumer credit transaction, against loss of or damage to property or against liability arising out of the ownership or use of property, shall be included in the finance charge unless a clear and specific statement in writing is furnished by the creditor to the person to whom the credit is extended, setting forth the cost of the insurance if obtained from or through the creditor, and stating that the person to whom the credit is extended may choose the person through which the insurance is to be obtained.

This is not about requiring you to have insurance or not, but simply deals with how it is to be handled when the insurance is included in the finance charge.

It is not a requirement, no. This is just saying that if it is, these rules should be followed.

You're very welcome. I'm sorry for any confusion on the issues around your question, I was just trying to make sure I understood correctly. Thank you again for the question, and I hope you have a good evening.

No worries. Thank you very much.