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Iowa Consumer Credit Code (ICCC) Informal Advisory Opinions - 1985 Archive

February 18, 1985

Such service contracts are not part of the finance charge, as long as they are not imposed as a condition to extension of a line of credit.  In order for the service contract to be considered an “additional” charge, the Administrator would have to make a specific ruling authorizing such charges.

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February 12, 1985

A national bank may offer credit insurance as a permissible “additional” charge, without being considered a part of the finance charge.  To do so, the bank must make it clear that the purchase of such insurance is optional and if insurance is desired, it is not required to be bought from the bank.

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February 8, 1985

Informal Advisory Opinion #20

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