Consumer complaint received 2023-01-18
Company: CAPITAL ONE FINANCIAL CORPORATION
State: GA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
Date it occurred on XX/XX/XXXX CAPITAL ONE AUTO FINAN XXXX XXXX XXXX, TX XXXX I RESERVE MY RIGHTS UNDER UCC 1-308 ; THEESE COMPANIES ARE IN VIOLATION OF MY CONSUMER RIGHTS UNDER US CODE 1605 AND US CODE 1638. XXXX XXXX XXXX INC.VIOLATED MY RIGHTS AS A CONSUMER BY STACKING FEES AND INSURANCE PREMIUMS INTO MY AMOUNT FINANCED, ORIGINAL PRICE XXXX TOTAL SALE PRICE CAME OUT TO XXXX WITH ILLEGAL DOWN PAYMENT OF XXXX PLUS ANOTHER XXXX AT SIGNING WITCH " SIGNATURE '' I REVOLK UNDER UCC 1-308. CAPITAL ONE AUTO FINAN ALREADY PRE APPROVED, MY PERSON FOR XXXX. THE AMOUNT FINANCED FOR THIS ERRONEOUS LOAN IS WRONG, WHICH MEANS MY FINANCE CHARGE IS WRONG, THAT BEING SAID MY PAYMENTS ARE WRONG AND TO HIGH. I ALSO HAD A XXXX PLUS CREDIT SCORE THAT WAS AFFECTED AND NOT TAKEN INTO CONSIDERATION. THEY GAVE ME TWO RETAIL PURCHASE AGREEMENTS WITH DIFFERENT FIGURES AND SUMS, I FEEL SO VIOLATED, ALSO UNDER US CODE 1662 ( 2 ) NO DOWN PAYMENT WAS NEEDED TO EXTEND MY PERSON CREDIT YOUR EMPLOYEE XXXX XXXX TOLD ME THAT MY CAR WAS NEW ON THE RETAIL PURCHASE AGREEMENT, BUT ON THE ERRONEOUS GAP WAIVER THAT SHOULD NOT HAVE BEEN INCLUDED IN FINANCE CHARGE SAID THE VEHICLE WAS USED. WITH THE MILEAGE BEING ( XXXX ) AND ACCURATE, ON ONE AGREEMENT ON THE OTHER IT SAYS ITS NOT ACCURATE. ALSO, MY PREMIUM SHOULD BE INCLUDED IN THE FINANCE CHARGE. I SHOULD NOT BE PAYING OUT OF POCKET TO 3RD PARTIES. I ALSO UNDER UCC 3-104 I NEVER GOT A FINANCIAL INSTRUMENT FROM FINANCIAL INSTITUTION ( CAPITAL ONE AUTO FINAN ) TO FUND THIS TRANSACTION ; IF SO I WOULD LIKE TO RECEIVE ACCOUNT LEDGER FROM CAPITAL ONE AUTO FINAN TO PROVE A TRANSACTION WAS MADE.I DID NOT RECEIVE A TRUTH IN LENDING OR RIGHT TO RECESSION DISCLOSURES UNDER USC 1640 THIS IS A BREACH IN CONTRACT, I WANT TO BE COMPENSATED FOR MY INJURY PAIN AND SUFFERING IN DAMAGES, I WAS UNFAIRLY TREATED DISCRIMINATED AGAINST AND UNDER USC 1611 I WILL HOLD EVERYONE ACCOUNTABLE WHO WILLFUL KNOWINGLY TRICKED ME INTO THIS CONTRACT. Please be advised you have a letter to CFPB, this is my First WRITTEN REQUEST and that I fully intend to pursue litigation in accordance with the FCRA to enforce my rights and seek relief and recover all monetary damages that I may be entitled to under Section 616 and Section 617 regarding your continued willful and negligent noncompliance. THE FTC IS INVESTIGATING THIS MATTER ALSO YOU ARE NOW UNDER FEDERAL LAW. BELOW ARE MY DEMANDS I WILL EXPECT COMPENSATION WITH IN 15 DAYS OF THIS REPORT. 
I DEMAND MY TITLE AND FOR THIS LOAN TO BE PAYED OFF IN FULL ALSO ANY LATE PAYMENTS SHALL BE DELETED I DEMAND XXXX IN DAMAGES FOR MY RIGHTS BEING VIOLATED I DEMAND MY DOWN PAYMENT OF XXXX THAT SELLER TOOK FORM ME I DEMAND THE PAYMENTS BACK FROM THIS LOAN IN TOTAL OF XXXX X XXXX XXXX XXXX. REQUEST FOR ACCOUNTING ; REQUEST REGARDING LIST OF COLLATERAL OR STATEMENT OF ACCOUNT ( a ) [ Definitions. ] In this section : ( 1 ) " Request '' means a record of a type described in paragraph ( 2 ), ( 3 ), or ( 4 ).

( 2 ) " Request for an accounting '' means a record authenticated by a debtor requesting that the recipient provide an accounting of the unpaid obligations secured by collateral and reasonably identifying the transaction or relationship that is the subject of the request.

( 3 ) " Request regarding a list of collateral '' means a record authenticated by a debtor requesting that the recipient approve or correct a list of what the debtor believes to be the collateral securing an obligation and reasonably identifying the transaction or relationship that is the subject of the request.

( 4 ) " Request regarding a statement of account '' means a record authenticated by a debtor requesting that the recipient approve or correct a statement indicating what the debtor believes to be the aggregate amount of unpaid obligations secured by collateral as of a specified date and reasonably identifying the transaction or relationship that is the subject of the request.

( b ) [ Duty to respond to requests. ] Subject to subsections ( c ), ( d ), ( e ), and ( f ), a secured party, other than a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor, shall comply with a request within 14 days after receipt : ( 1 ) in the case of a request for an accounting, by authenticating and sending to the debtor an accounting; and ( 2 ) in the case of a request regarding a list of collateral or a request regarding a statement of account, by authenticating and sending to the debtor an approval or correction.

( c ) [ Request regarding list of collateral ; statement concerning type of collateral. ] A secured party that claims a security interest in all of a particular type of collat
eral owned by the debtor may comply with a request regarding a list of collateral by sending to the debtor an authenticated record including a statement to that effect within 14 days after receipt.

( d ) [ Request regarding list of collateral ; no interest claimed. ] A person that receives a request regarding a list of collateral, claims no interest in the collateral when it receives the request, and claimed an interest in the collateral at an earlier time shall comply with the request within 14 days after receipt by sending to the debtor an authenticated record : ( 1 ) disclaiming any interest in the collateral; and ( 2 ) if known to the recipient, providing the name and mailing address of any assignee of or successor to the recipient 's interest in the collateral.

( e ) [ Request for accounting or regarding statement of account ; no interest in obligation claimed. ] A person that receives a request for an accounting or a request regarding a statement of account, claims no interest in the obligations when it receives the request, and claimed an interest in the obligations at an earlier time shall comply with the request within 14 days after receipt by sending to the debtor an authenticated record : ( 1 ) disclaiming any interest in the obligations; and ( 2 ) if known to the recipient, providing the name and mailing address of any assignee of or successor to the recipient 's interest in the obligations.

( f ) [ Charges for responses. ] A debtor is entitled without charge to one response to a request under this section during any six-month period. The secured party may require payment of a charge not exceeding {$25.00} for each additional response.

1-308. Performance or Acceptance Under Reservation of Rights.

( a ) A party that with explicit reservation of rights performs or promises performance or assents to performance in a manner demanded or offered by the other party does not thereby prejudice the rights reserved. Such words as " without prejudice, '' " under protest, '' or the like are sufficient.

( b ) Subsection ( a ) does not apply to an accord and satisfaction.

1-306. Waiver or Renunciation of Claim or Right After Breach.

A claim or right arising out of an alleged breach may be discharged in whole or in part without consideration by agreement of the aggrieved party in an 18 U.S.C. 8 I owe no debt All debts are united states obligations The term obligation or other security of the United States includes all bonds, certificates of indebtedness, national bank currency , Federal Reserve notes, Federal Reserve bank notes, coupons, United States notes, Treasury notes, gold certificates, silver certificates, fractional notes, certificates of deposit, bills, checks, or drafts for money, drawn by or upon authorized officers of the United States, stamps and other representatives of value, of whatever denomination, issued under any Act of Congress, and canceled United States stamps.

( June 25, 1948, ch. 645, 62 Stat. 685. ) 17 CFR 240.3b-18 Definitions of terms used in Section 3 ( a ) ( 5 ) of the Act.

For the purposes of section 3 ( a ) ( 5 ) ( C ) of the Act ( 15 U.S.C. 78c ( a ) ( 5 ) ( C ) : ( a ) The term affiliate means any company that controls, is controlled by, or is under common control with another company.

( b ) The term consumer-related receivable means any obligation incurred by any natural person to pay money arising out of a transaction in which the money, property, insurance, or services ( being purchased ) are primarily for personal, family, or household purposes.

( c ) The term member as it relates to the term syndicate of banks means a bank that is a participant in a syndicate of banks and together with its affiliates, other than its broker or dealer affiliates, originates no less than 10 % of the value of the obligations in a pool of obligations used to back the securities issued through a grantor trust or other separate entity.

( d ) The term obligation means any note, draft, acceptance, loan, lease, receivable, or other evidence of indebtedness that is not a security issued by a person other than the bank.

( e ) The term originated means : 17 CFR 240.3b-18 Definitions of terms used in Section 3 ( a ) ( 5 ) of the Act.

( 1 ) Funding an obligation at the time that the obligation is created ; or ( 2 ) Initially approving and underwriting the obligation, or initially agreeing to purchase the obligation, provided that : ( i ) The obligation conforms to the underwriting standards or is evidenced by the loan documents of the bank or its affiliates, other than its broker or dealer affiliates; and ( ii ) The bank or its affiliates, other than its broker or dealer affiliates, fund the obligation in a timely manner, not to exceed six months after the obligation is created.

( f ) The term pool means more than one obligation or type of obligation grouped together to provide collateral for a securities offering.

( g ) The term predominantly originated means that no less than 85 % of the value of the obligations in any pool were originated by : ( 1 ) The bank or its affiliates, other than its broker or dealer affiliates; or ( 2 ) Banks that are members of a syndicate of banks and affiliates of such banks, other than their broker or dealer affiliates, if the obligations or pool of obligations consist of mortgage obligations or consumer-related receivables.

( 3 ) For this purpose, the bank and its affiliates include any financial institution with which the bank or its affiliates have merged but does not include the purchase of a pool of obligations or the purchase of a line of business.

( h ) The term syndicate of banks means a group of banks that acts jointly, on a temporary basis, to issue through a grantor trust or other separate entity, securities backed by obligations originated by each of the individual banks or their affiliates, other than their broker or dealer affiliates.

[ 68 FR 8700, Feb. 24, 2003 ] 1026.23 Right of rescission.

( a ) Consumer 's right to rescind.

( 1 ) In a credit transaction in which a security interest is or will be retained or acquired in a consumer 's principal dwelling, each consumer whose ownership interest is or will be subject to the security interest shall have the right to rescind the transaction, except for transactions described in paragraph ( f ) of this section. For purposes of this section, the addition to an existing obligation of a security interest in a consumer 's principal dwelling is a transaction. The right of rescission applies only to the addition of the security interest and not the existing obligation. The creditor shall deliver the notice required by paragraph ( b ) of this section but need not deliver new material disclosures. Delivery of the required notice shall begin the rescission period.

( 2 ) To exercise the right to rescind, the consumer shall notify the creditor of the rescission by mail, telegram or other means of written communication. Notice is considered given when mailed, when filed for telegraphic transmission or, if sent by other means, when delivered to the creditor 's designated place of business.

( 3 ) ( i ) The consumer may exercise the right to rescind until midnight of the third business day following consummation, delivery of the notice required by paragraph ( b ) of this section, or delivery of all material disclosures, whichever occurs last. If the required notice or material disclosures are not delivered, the right to rescind shall expire 3 years after consummation, upon transfer of all of the consumer 's interest in the property, or upon sale of the property, whichever occurs first. In the case of certain administrative proceedings, the rescission period shall be extended in accordance with section 125 ( f ) of the Act.

( ii ) For purposes of this paragraph ( a ) ( 3 ), the term material disclosures means the required disclosures of the annual percentage rate, the finance charge, the amount financed, the total of payments, the payment schedule, and the disclosures and limitations referred to in 1026.32 ( c ) and ( d ) and 1026.43 ( g ).

( 4 ) When more than one consumer in a transaction has the right to rescind, the exercise of the right by one consumer shall be effective as to all consumers.

( b ) ( 1 ) Notice of right to rescind. In a transaction subject to rescission, a creditor shall deliver two copies of the notice of the right to rescind to each consumer entitled to rescind ( one copy to each if the notice is delivered in electronic form in accordance with the consumer consent and other applicable provisions of the E-Sign Act ). The notice shall be on a separate document that identifies the transaction and shall clearly and conspicuously disclose the following : ( i ) The retention or acquisition of a security interest in the consumer 's principal dwelling.

( ii ) The consumer 's right to rescind the transaction.

( iii ) How to exercise the right to rescind, with a form for that purpose, designating the address of the creditor 's place of business.

( iv ) The effects of rescission, as described in paragraph ( d ) of this section.

( v ) The date the rescission period expires.

( 2 ) Proper form of notice. To satisfy the disclosure requirements of paragraph ( b ) ( 1 ) of this section, the creditor shall provide the appropriate model form in appendix H of this part or a substantially similar notice.

( c ) Delay of creditor 's performance. Unless a consumer waives the right of rescission under paragraph ( e ) of this section, no money shall be disbursed other than in escrow, no services shall be performed and no materials delivered until the rescission period has expired and the creditor is reasonably satisfied that the consumer has not rescinded. ( d ) Effects of rescission.

( 1 ) When a consumer rescinds a transaction, the security interest giving rise to the right of rescission becomes void and the consumer shall not be liable for any amount, including any finance charge.

( 2 ) Within 20 calendar days after receipt of a notice of rescission, the creditor shall return any money or property that has been given to anyone in connection with the transaction and shall take any action necessary to reflect the termination of the security interest.

( 3 ) If the creditor has delivered any money or property, the consumer may retain possession until the creditor has met its obligation under paragraph ( d ) ( 2 ) of this section. When the creditor has complied with that paragraph, the consumer shall tender the money or property to the creditor or, where the latter would be impracticable or inequitable, tender its reasonable value. At the consumer 's option, tender of property may be made at the location of the property or at the consumer 's residence. Tenders of money must be made at the creditor 's designated place of business. If the creditor does not take possession of the money or property within 20 calendar days after the consumer 's tender, the consumer may keep it without further obligation.

( 4 ) The procedures outlined in paragraphs ( d ) ( 2 ) and ( 3 ) of this section may be modified by court order.

( e ) Consumer 's waiver of right to rescind. The consumer may modify or waive the right to rescind if the consumer determines that the extension of credit is needed to meet a bona fide personal financial emergency. To modify or waive the right, the consumer shall give the creditor a dated written statement that describes the emergency, specifically modifies or waives the right to rescind, and bears the signature of all the consumers entitled to rescind. Printed forms for this purpose are prohibited.

( f ) Exempt transactions. The right to rescind does not apply to the following : ( 1 ) A residential mortgage transaction.

( 2 ) A refinancing or consolidation by the same creditor of an extension of credit already secured by the consumer 's principal dwelling. The right of rescission shall apply, however, to the extent the new amount financed exceeds the unpaid principal balance, any earned unpaid finance charge on the existing debt, and amounts attributed solely to the costs of the refinancing or consolidation.

( 3 ) A transaction in which a state agency is a creditor.

( 4 ) An advance, other than an initial advance, in a series of advances or in a series of single-payment obligations that is treated as a single transaction under 1026.17 ( c ) ( 6 ), if the notice required by paragraph ( b ) of this section and all material disclosures have been given to the consumer.

( 5 ) A renewal of optional insurance premiums that is not considered a refinancing under 1026.20 ( a ) ( 5 ).

( g ) Tolerances for accuracy - ( 1 ) One-half of 1 percent tolerance. Except as provided in paragraphs ( g ) ( 2 ) and ( h ) ( 2 ) of this section : ( i ) The finance charge and other disclosures affected by the finance charge ( such as the amount financed and the annual percentage rate ) shall be considered accurate for purposes of this section if the disclosed finance charge : ( A ) Is understated by no more than 1/2 of 1 percent of the face amount of the note or {$100.00}, whichever is greater ; or ( B ) Is greater than the amount required to be disclosed.

( ii ) The total of payments for each transaction subject to 1026.19 ( e ) and ( f ) shall be considered accurate for purposes of this section if the disclosed total of payments : ( A ) Is understated by no more than 1/2 of 1 percent of the face amount of the note or {$100.00}, whichever is greater ; or ( B ) Is greater than the amount required to be disclosed.

( 2 ) One percent tolerance. In a refinancing of a residential mortgage transaction with a new creditor ( other than a transaction covered by 1026.32 ), if there is no new advance and no consolidation of existing loans : ( i ) The finance charge and other disclosures affected by the finance charge ( such as the amount financed and the annual percentage rate ) shall be considered accurate for purposes of this section if the disclosed finance charge : ( A ) Is understated by no more than 1 percent of the face amount of the note or {$100.00}, whichever is greater ; or ( B ) Is greater than the amount required to be disclosed.

( ii ) The total of payments for each transaction subject to 1026.19 ( e ) and ( f ) shall be considered accurate for purposes of this section if the disclosed total of payments : ( A ) Is understated by no more than 1 percent of the face amount of the note or {$100.00}, whichever is greater ; or ( B ) Is greater than the amount required to be disclosed.

( h ) Special rules for foreclosures - ( 1 ) Right to rescind. After the initiation of foreclosure on the consumer 's principal dwelling that secures the credit obligation, the consumer shall have the right to rescind the transaction if : ( i ) A mortgage broker fee that should have been included in the finance charge was not included ; or ( ii ) The creditor did not provide the properly completed appropriate model form in appendix H of this part, or a substantially similar notice of rescission.

( 2 ) Tolerance for disclosures. After the initiation of foreclosure on the consumer 's principal dwelling that secures the credit obligation : ( i ) The finance charge and other disclosures affected by the finance charge ( such as the amount financed and the annual percentage rate ) shall be considered accurate for purposes of this section if the disclosed finance charge : ( A ) Is understated by no more than {$35.00} ; or ( B ) Is greater than the amount required to be disclosed.

( ii ) The total of payments for each transaction subject to 1026.19 ( e ) and ( f ) shall be considered accurate for purposes of this section if the disclosed total of payments : ( A ) Is understated by no more than {$35.00} ; or ( B ) Is greater than the amount required to be disclosed.
[ 76 FR 79772, Dec. 22, 2011, as amended at 78 FR 30745, May 23, 2013 ; 78 FR 60440, Oct. 1, 2013 ; 82 FR 37769, Aug. 11, 2017 ] 15 U.S. Code 1638 - Transactions other than under an open-end credit plan ( a ) Required disclosures by creditor For each consumer credit transaction other than under an open-end credit plan, the creditor shall disclose each of the following items, to the extent applicable : ( 1 ) The identity of the creditor required to make disclosure.

( 2 ) ( A ) The amount financed, using that term, which shall be the amount of credit of which the consumer has actual use. This amount shall be computed as follows, but the computations need not be disclosed and shall not be disclosed with the disclosures conspicuously segregated in accordance with subsection ( b ) ( 1 ) : ( i ) take the principal amount of the loan or the cash price less down payment and trade-in; ( ii ) add any charges which are not part of the finance charge or of the principal amount of the loan and which are financed by the consumer, including the cost of any items excluded from the finance charge pursuant to section 1605 of this title; and ( iii ) subtract any charges which are part of the finance charge but which will be paid by the consumer before or at the time of the consummation of the transaction, or have been withheld from the proceeds of the credit.

15 U.S. Code 1602 - Definitions and rules of construction ( l ) The term credit card means any card, plate, coupon book or other credit device existing for the purpose of obtaining money, property, labor, or services on credit.

28 U.S. Code 3002 - Definitions ( 1 ) Counsel for the United States means ( A ) a United States attorney, an assistant United States attorney designated to act on behalf of the United States attorney, or an attorney with the United States Department of Justice or with a Federal agency who has litigation authority ; and ( B ) any private attorney authorized by contract made in accordance with section 3718 of title 31 to conduct litigation for collection of debts on behalf of the United States.

( 2 ) Court means any court created by the Congress of the United States, excluding the United States Tax Court. ( 3 ) Debt means ( A ) an amount that is owing to the United States on account of a direct loan, or loan insured or guaranteed, by the United States ; or ( B ) an amount that is owing to the United States on account of a fee, duty, lease, rent, service, sale of real or personal property, overpayment, fine, assessment, penalty, restitution, damages, interest, tax, bail bond forfeiture, reimbursement, recovery of a cost incurred by the United States, or other source of indebtedness to the United States, but that is not owing under the terms of a contract originally entered into by only persons other than the United States ; and includes any amount owing to the United States for the benefit of an Indian tribe or individual Indian, but excludes any amount to which the United States is entitled under section 3011 ( a ).

31 U.S. Code 3123 - Payment of obligations and interest on the public debt ( a ) The faith of the United States Government is pledged to pay, in legal tender, principal and interest on the obligations of the Government issued under this chapter.

( b ) The Secretary of the Treasury shall pay interest due or accrued on the public debt. As the Secretary considers expedient, the Secretary may pay in advance interest on the public debt by a period of not more than one year, with or without a rebate of interest on the coupons.

( c ) ( 1 ) The Secretary may issue a bond, note, or certificate of indebtedness authorized under this chapter whose principal and interest are payable in a foreign currency stated in the bond, note, or certificate. The Secretary may dispose of the bonds, notes, and certificates at a price that is at least par value without complying with section 3102 ( b ) ( d ) of this title.

( 2 ) In determining the dollar amount of bonds, notes, and certificates of indebtedness that may be issued under this chapter, the dollar equivalent of the amount of bonds, notes, and certificates payable in a foreign currency is determined by the par of the exchange value on the date of issue of the bonds, notes, or certificates as published by the Secretary under section 5151 of this title.

( 3 ) The Secretary may designate depositaries in foreign countries in which any part of the proceeds of bonds, notes, or certificates of indebtedness payable in the foreign currency may be deposited.

( Pub. L. 97258, Sept. 13, 1982, 96 Stat. 945. ) Definition : payment from 15 USC 78m ( q ) ( 1 ) ( C ) payment ( C ) the term payment ( i ) means a payment that is ( I ) made to further the commercial development of oil, natural gas, or minerals ; and ( II ) not de minimis ; and ( ii ) includes taxes, royalties, fees ( including license fees ), production entitlements, bonuses, and other material benefits, that the Commission, consistent with the guidelines of the Extractive Industries Transparency Initiative ( to the extent practicable ), determines are part of the commonly recognized revenue stream for the commercial development of oil, natural gas, or minerals ; 15 U.S. Code 1605 - Determination of finance charge ( a ) Finance charge defined Except as otherwise provided in this section, the amount of the finance charge in connection with any consumer credit transaction shall be determined as the sum of all charges, payable directly or indirectly by the person to whom the credit is extended, and imposed directly or indirectly by the creditor as an incident to the extension of credit. The finance charge does not include charges of a type payable in a comparable cash transaction. The finance charge shall not include fees and amounts imposed by third party closing agents ( including settlement agents, attorneys, and escrow and title companies ) if the creditor does not require the imposition of the charges or the services provided and does not retain the charges. Examples of charges which are included in the finance charge include any of the following types of charges which are applicable : ( 1 ) Interest, time price differential, and any amount payable under a point, discount, or other system or additional charges.

( 2 ) Service or carrying charge.

( 3 ) Loan fee, finders fee, or similar charge.

( 4 ) Fee for an investigation or credit report.

( 5 ) Premium or other charge for any guarantee or insurance protecting the creditor against the obligors default or other credit loss.

( 6 ) Borrower-paid mortgage broker fees, including fees paid directly to the broker or the lender ( for delivery to the broker ) whether such fees are paid in cash or financed.

( b ) Life, accident, or health insurance premiums included in finance charge Charges or premiums for credit life, accident, or health insurance written in connection with any consumer credit transaction shall be included in the finance charges unless ( 1 ) the coverage of the debtor by the insurance is not a factor in the approval by the creditor of the extension of credit, and this fact is clearly disclosed in writing to the person applying for or obtaining the extension of credit ; and ( 2 ) in order to obtain the insurance in connection with the extension of credit, the person to whom the credit is extended must give specific affirmative written indication of his desire to do so after written disclosure to him of the cost thereof.

( 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.

( d ) Items exempted from computation of finance charge in all credit transactions If any of the following items is itemized and disclosed in accordance with the regulations of the Bureau in connection with any transaction, then the creditor need not include that item in the computation of the finance charge with respect to that transaction : ( 1 ) Fees and charges prescribed by law which actually are or will be paid to public officials for determining the existence of or for perfecting or releasing or satisfying any security related to the credit transaction.

( 2 ) The premium payable for any insurance in lieu of perfecting any security interest otherwise required by the creditor in connection with the transaction, if the premium does not exceed the fees and charges described in paragraph ( 1 ) which would otherwise be payable.

( 3 ) Any tax levied on security instruments or on documents evidencing indebtedness if the payment of such taxes is a precondition for recording the instrument securing the evidence of indebtedness.

( e ) Items exempted from computation of finance charge in extensions of credit secured by an interest in real property The following items, when charged in connection with any extension of credit secured by an interest in real property, shall not be included in the computation of the finance charge with respect to that transaction : ( 1 ) Fees or premiums for title examination, title insurance, or similar purposes.

( 2 ) Fees for preparation of loan-related documents.

( 3 ) Escrows for future payments of taxes and insurance.

( 4 ) Fees for notarizing deeds and other documents.

( 5 ) Appraisal fees, including fees related to any pest infestation or flood hazard inspections conducted prior to closing. ( 6 ) Credit reports.

( f ) Tolerances for accuracy In connection with credit transactions not under an open end credit plan that are secured by real property or a dwelling, the disclosure of the finance charge and other disclosures affected by any finance charge ( 1 ) shall be treated as being accurate for purposes of this subchapter if the amount disclosed as the finance charge ( A ) does not vary from the actual finance charge by more than {$100.00} ; or ( B ) is greater than the amount required to be disclosed under this subchapter; and ( 2 ) s

Company response to consumer: Closed with explanation