TITLE XXXVI
PAWNBROKERS AND MONEYLENDERS

CHAPTER 399-A
REGULATION OF SMALL LOANS, TITLE LOANS, AND PAYDAY LOANS

Section 399-A:12

    399-A:12 Consumer Inquiries. –
I. Consumer complaints naming licensees under this chapter, which are filed in writing with the office of the commissioner, shall be forwarded via electronic mail or certified or registered mail to the licensee for response within 10 days of receipt by the department. Licensees shall, within 10 days after receipt of such complaint, send a written acknowledgment thereof to the consumer and the banking department. Not later than 30 days following receipt of such complaint, the licensee shall conduct an investigation of the complaint and either:
(a) Make appropriate corrections in the account of the consumer and transmit to the consumer and the banking department written notification of such corrections, including documentary evidence thereof; or
(b) Transmit a written explanation or clarification to the consumer and the banking department which sets forth, to the extent applicable, the reasons why the licensee believes its actions are correct, including copies of documentary evidence thereof.
II. A licensee who fails to respond to consumer complaints as required by this section within the time prescribed shall pay to the commissioner a penalty of $50 for each day such response is overdue. For purposes of this section, the date of transmission shall be the date such response is received by the commissioner.
III. (a) Licensees which, because of extenuating circumstances beyond the control of the licensee, are unable to comply with the time frames prescribed in this section, may make written request to the commissioner for a waiver of such time frames. Waivers shall not be granted or considered unless the request for the waiver:
(1) Is received by the banking department within 20 calendar days following the licensee's receipt of the complaint;
(2) Specifies the reason for the request; and
(3) Specifies a date certain by which the licensee shall comply with the provisions of this section.
(b) Requests for waivers shall be either granted or denied within 5 calendar days of receipt by the banking department.

Source. 2015, 73:1, eff. Jan. 1, 2016. 2018, 207:6, 7, eff. Aug. 7, 2018. 2021, 194:26, eff. Oct. 9, 2021.