535C.2A Prohibition on advance fees.
57 words·~1 min read·
/ia/chapter-535c-loan-brokers/535c-2a·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A loan broker shall not directly or indirectly solicit, receive, or accept from a borrower an advance fee as consideration for providing services as a loan broker. A loan broker’s fee may only be assessed or collected from a borrower after the successful procurement of a loan or issuance of a credit card.
Referred to in §714.16