What reg requires this disclosure? I'm trying to track it's source!

Please read the following disclosures required in connection with an application for credit. Please retain a copy for your records.
I (we) understand that:
o The insurance product is not a deposit or other obligation of, or guaranteed by, the bank or an affiliate of the bank;
o The insurance product is not insured by the Federal Deposit Insurance Corporation (FDIC) or any other agency of the United States, the bank, or an affiliate of the bank;
I (we) understand that the Bank may not condition an extension of credit on either:
o The consumer's purchase of an insurance product from the bank or any of its affiliates; or
o The consumer's agreement not to obtain, or a prohibition on the consumer from obtaining, an insurance product from an unaffiliated entity.
I (we) have read and understood the required disclosures listed above, and have received a copy of this disclosure.

Thanks - is there anything in Regulation Z (or commentary)that supports this?

Some in my area are disagreeing as to where this particular disclosure is addressed. Is this just for selling credit life in conjunction with loan products?

Thanks for the help.