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Financial Institutions Act | |
Check Cashing and Deferred Deposit Lending Registration Act | |
Section 501 | Enforcement by department -- Rulemaking. |
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7-23-501. Enforcement by department -- Rulemaking. (1) Subject to the requirements of Title 63G, Chapter 4, Administrative Procedures Act, the department may: (a) receive and act on complaints; (b) take action designed to obtain voluntary compliance with this chapter; (c) commence administrative or judicial proceedings on its own initiative to enforce compliance with this chapter; or (d) take action against a check casher or deferred deposit lender that fails to: (i) respond to the department, in writing within 30 business days of the day on which the check casher or deferred deposit lender receives notice from the department of a complaint filed with the department; or (ii) submit information as requested by the department. (2) The department may: (a) counsel persons and groups on their rights and duties under this chapter; (b) make rules in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, to: (i) restrict or prohibit lending or servicing practices that are misleading, unfair, or abusive; (ii) promote or assure fair and full disclosure of the terms and conditions of agreements and communications between a customer and: (A) a check casher; or (B) a deferred deposit lender; and (iii) promote or assure uniform application of or to resolve ambiguities in applicable state or federal laws or federal regulations; and (c) employ hearing examiners, clerks, and other employees and agents as necessary to perform the department's duties under this chapter.
Renumbered and Amended by Chapter 96, 2008 General Session |
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