DFI-Bkg 3.08(3)(3) Refunds of fees in the event of termination or prepayment of the covered loan. DFI-Bkg 3.08(3)(a)(a) Refunds. If a debt cancellation contract or debt suspension agreement is terminated, including when the customer prepays the covered loan, the bank shall refund to the customer any unearned fees paid for the contract unless the contract provides otherwise. A bank may offer a customer a contract that does not provide for a refund only if the bank also offers that customer a bona fide option to purchase a comparable contract that provides for a refund. DFI-Bkg 3.08(3)(b)(b) Method of calculating refund. The bank shall calculate the amount of a refund using a method at least as favorable to the customer as the actuarial method. DFI-Bkg 3.08(4)(4) Method of payment of fees. Except as provided in sub. (2) (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 option to finance the single payment by adding it to the amount the customer is borrowing, the bank shall also disclose to the customer, in accordance with sub. (5), whether and, if so, the time period during which, the customer may cancel the agreement and receive a refund. DFI-Bkg 3.08(5)(a)(a) Content of short form of disclosures. The short form of disclosures required by this section shall include information relating to any of the following that is appropriate to the product offered: DFI-Bkg 3.08(5)(b)(b) Content of long form disclosures. The long form of disclosures required by this section shall include information relating to any of the following that is appropriate to the product offered: DFI-Bkg 3.08 NoteNote: Copies of the short and long form, and instructions for using them may be obtained by writing to the Department of Financial Institutions, Division of Banking, P.O. Box 7876, Madison, WI 53707-7876 or by downloading it from the department’s website, www.wdfi.org. Short form disclosures made in a form that is substantially similar to the disclosures available from the department will satisfy the short form disclosure requirement of this section. Long form disclosures made in a form that is substantially similar to the disclosures available from the department will satisfy the long form disclosure requirements of this section. DFI-Bkg 3.08(5)(c)1.1. The bank shall make the short form disclosures orally at the time the bank first solicits the purchase of a contract. DFI-Bkg 3.08(5)(c)2.2. The bank shall make the long form disclosures in writing before the customer completes the purchase of the contract. If the initial solicitation occurs in person, the bank shall provide the long form disclosures in writing at that time. DFI-Bkg 3.08(5)(d)1.1. The disclosures required by this section shall be conspicuous, simple, direct, readily understandable, and designed to call attention to the nature and significance of the information provided.