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  • Division of Banks

Selected Opinions of the Division of Banks related to finance agencies

Through these opinions the Division of Banks (DOB) offers perspective on current issues and questions specific to banks.

Table of Contents

2021

  • Opinion 21-005
    • Whether a convenience fee may be charged to make a payment by telephone on a retail installment agreement, as described – April 12, 2022
  • Opinion 21-003
    • Licensing requirements for individual automobile dealerships for activities described – May 7, 2021

2020

  • Opinion 020-005
    • Permissibility of charging a GAP waiver cancellation fee, on facts as described – February 10, 2022.

2019

  • Opinion 19-003
    • Clarification on Vendor Single-Interest Insurance (VSI)  – October 15, 2019

2005

  • Selected Opinion 05-026
    • Is an equipment leasing company required to be licensed as an insurance premium finance agency - July 18, 2005

2004

  • Selected Opinion 03-133
    • Debt cancellation coverage or GAP authorized for motor vehicle sales pursuant to General Laws Chapter 255B - April 27, 2004

2003

  • Selected Opinion 03-053
    • Issues concerning timing of Notice of Revocation of cancellation of an insurance contract - July 28, 2003

2002

  • Selected Opinion of 02-043
    • Requirements applicable to national banks wishing to offer insurance premium financing in Massachusetts - April 16, 2002
  • Selected Opinion 01-168
    • Exemption for sales finance company license for a loan broker - February 7, 2002

2001

2000

1999

1998

1997

Past opinions of the DOB

You can get copies of past opinions by submitting a Public Records Request to the DOB's Record Access Officer

The DOB's Regulations, found in the Code of Massachusetts Regulations (CMR - agency code number 209), are available through the State House Bookstore.

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