Method of payment of fees. Except as provided in § 37.3(c)(2), a bank may offer a customer the option of paying the fee for a contract in a single payment, provided the bank also offers the customer a bona fide option of paying the fee for that contract in monthly or other periodic payments. If the bank offers the customer the op- tion to finance the single payment by adding it to the amount the customer is borrowing, the bank must also dis- close to the customer, in accordance with § 37.6, whether and, if so, the time period during which, the customer may cancel the agreement and receive a re- fund.
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