Right - I have to have credit insurance to get the rate. How is the credit insurance then not required.
343.40(b) Credit disclosure. In the case of an application for credit in connection with which an insurance product or annuity is solicited, offered, or sold, you must disclose that the institution may not condition an extension of credit on either:
(1) The consumer's purchase of an insurance product or annuity from the institution or any of its affiliates; or
(2) The consumer's agreement not to obtain, or a prohibition on the consumer from obtaining, an insurance product or annuity from an unaffiliated entity.
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