Sec. 4. Restrictions on lead generation in small-dollar consumer credit transactions
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The Truth in Lending Act (15 U.S.C. 1601 et seq.) is amended by adding at the end the following: Any person facilitating, brokering, arranging, gathering applications for, or distributing sensitive personal financial information in connection with small-dollar consumer credit transactions shall prominently disclose information by which they may be contacted or identified, including for service of process and for identification of the registrant of any domain name registered or used.
No person may facilitate, broker, arrange, gather applications for, or distribute sensitive personal financial information in connection with small-dollar consumer credit transactions, unless the person is directly providing the small-dollar consumer credit to the consumer. For purposes of this section— the term sensitive personal financial information means the consumer’s Social Security number, financial account number, bank routing number, bank account number, or any required security or access code that is immediately necessary to permit access to an individual's financial account; and the term small-dollar consumer credit transaction has the same meaning as in section 110(b).
Nothing in this section may be interpreted to limit the authority of the Bureau to further restrict activities covered by this section. It shall not be considered facilitating in connection with small-dollar consumer credit transactions to be engaged solely in one of the following activities: The provision of a telecommunications service, or of an Internet access service or Internet information location tool (as those terms are defined in section 231 of the Communications Act of 1934 ( 47 U.S.C. 231 )).
The transmission, storage, retrieval, hosting, formatting, or translation (or any combination thereof) of a communication, without selection or alteration of the content of the communication, except that deletion of a particular communication or material made by another person in a manner consistent with section 230(c) of the Communications Act of 1934 (47 U.S.C. 230(c)). .
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Sec. 4
Restrictions on lead generation in small-dollar consumer credit transactions
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