Where can I find what the current maximum we can charge for GAP insurance and if it will be ammended in July? Is it a percentage or an exact dollar amount? (Our DFI contact sent us to article 24, but I am not finding it...)

Is it Article 24 or Title 24?

Title 24, Article 4.5, Chapter 4 addresses credit insurance.

Title 27 addresses insurance in general.

I haven't dealt with GAP insurance in over 10 years. At one time the insurance company had to present their plan and rates to the DFI for approval. If approved the company was provided a letter from the DFI and if a FI sold GAP they were required to have that letter on file.

I'm not sure what the current procedure is but you should be able to find out by contacting the DFI or contacting your rep for the GAP product.

Thanks Dan! That is very helpful. I knew they had to resubmit every June but someone asked if the limit had been increased in the last session which had me worried I had missed a change. They are still required to submit every June and that is what determines the approved rate range. I sent them in the right direction and have renewed faith that I am not losing my mind...for that reason.