§1330. Solicitation using prescreened trigger lead information from consumer report
1.Use of prescreened trigger lead information.
When using prescreened trigger lead information derived from a consumer report to solicit a consumer who has applied for
a loan with another lender or loan broker, a lender or loan broker may not use unfair or deceptive practices described in
subsection 2.
[
2007, c. 273, Pt. A, §34 (NEW);
2007, c. 273, Pt. A, §41 (AFF)
.]
2.Unfair or deceptive practices.
Without limitation, it is an unfair or deceptive practice to:
A. Fail to state in the initial phase of the solicitation from a lender or loan broker that the solicitor is not affiliated with
the lender or loan broker with which the consumer initially applied; [2007, c. 273, Pt. A, §34 (NEW); 2007, c. 273, Pt. A, §41 (AFF).]
B. Fail in the initial solicitation to conform to state and federal law relating to prescreened solicitations using consumer
reports, including the requirement to make a firm offer of credit to the consumer; [2007, c. 273, Pt. A, §34 (NEW); 2007, c. 273, Pt. A, §41 (AFF).]
C. Knowingly or negligently use information regarding consumers who have opted out of prescreened offers of credit or who have
placed their contact information on the federal do-not-call registry; or [2007, c. 273, Pt. A, §34 (NEW); 2007, c. 273, Pt. A, §41 (AFF).]
D. Solicit a consumer with offers of certain rates, terms and costs with intent to subsequently raise the rates or change the
terms to the consumer's detriment. [2007, c. 273, Pt. A, §34 (NEW); 2007, c. 273, Pt. A, §41 (AFF).]
[
2007, c. 273, Pt. A, §34 (NEW);
2007, c. 273, Pt. A, §41 (AFF)
.]
SECTION HISTORY
2007, c. 273, Pt. A, §34 (NEW).
2007, c. 273, Pt. A, §41 (AFF).
Data for this page extracted on 10/16/2012 08:20:28.