N.M. Admin. Code § 12.18.10.8

Current through Register Vol. 35, No. 23, December 10, 2024

Section 12.18.10.8 - MARKETING SITE REQUIREMENTS

A. Small loan businesses operating one or more marketing site(s) shall be responsible for providing all mandatory disclosures and consumer information as required by Subsection C of 12.18.3.8 NMAC and Subsection A of 12.18.4.8 NMAC to consumers. The required disclosures and consumer information shall be easily accessible to consumers to review on a New Mexico specific web page maintained by the small loan company. The small loan company must ensure active links to the New Mexico specific web page are included on all company marketing sites utilized for loans made to borrowers in New Mexico.

B. All small loan businesses operating one or more marketing site(s) shall provide a disclosure in a location or locations on the marketing site that will be easily accessible and visible to consumers accessing such marketing site with the following words "TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL ________________." The blank shall be filled in with a position title, address, phone number, and email address of the company's problem resolution person.

C. The above shall also contain a separate disclosure stating the following words, "New Mexico Only: This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website: www.rld.nm.gov/financial-institutions/."

N.M. Admin. Code § 12.18.10.8

Adopted by New Mexico Register, Volume XXIX, Issue 16, August 28, 2018, eff. 9/15/2018, Amended by New Mexico Register, Volume XXXIV, Issue 05, March 14, 2023, eff. 3/29/2023