Sec. 4. Restrictions on lead generation in small-dollar consumer credit transactions
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Chapter 2 of the Truth in Lending Act ( 15 U.S.C. 1631 et seq.) is amended by adding at the end the following: In this section— the terms Internet access service and Internet information location tool have the meanings given those terms in section 231(e) of the Communications Act of 1934 ( 47 U.S.C. 231(e) ); the term sensitive personal financial information means a social security number, financial account number, bank routing number, bank account number, or security or access code that is immediately necessary to permit access to the financial account of an individual; and the term small-dollar consumer credit transaction has the meaning given the term in section 110(a).
Any person facilitating, brokering, arranging for, or gathering applications for the distribution of sensitive personal financial information in connection with a small-dollar consumer credit transaction shall prominently disclose information by which the person 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 for, or gather applications for the distribution of sensitive personal financial information in connection with a small-dollar consumer credit transaction unless the person is directly providing the small-dollar consumer credit to a consumer.
Nothing in this section may be construed to limit the authority of the Bureau to further restrict activities covered by this section. For the purposes of this section, it shall not be considered facilitating the distribution of sensitive personal financial information in connection with a small-dollar consumer credit transaction to be engaged solely in one of the following activities: The provision of a telecommunications service, an Internet access service, or an Internet information location tool.
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 the deletion of a particular communication or material made by another person in a manner that is consistent with section 230(c) of the Communications Act of 1934 ( 47 U.S.C. 230(c) ). . The table of sections for chapter 2 of the Truth in Lending Act ( 15 U.S.C. 1631 et seq.) is amended by adding at the end the following: 140B.
Restrictions on lead generation in small-dollar consumer credit transactions. .
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Sec. 4
Restrictions on lead generation in small-dollar consumer credit transactions
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