Oregon Statutes - Chapter 646A - Trade Regulation - Section 646A.254 - Prohibited conduct; cancellation of contract by consumer.

(1) A credit services organization, its salespersons, agents, representatives and independent contractors who sell or attempt to sell the services of a credit services organization shall not do any of the following:

(a) Misrepresent directly or indirectly in any advertising, promotional materials, sales presentation or in any other manner:

(A) The nature of the services to be performed.

(B) The time within which the services will be performed.

(C) The ability to improve the consumerís credit report or credit rating.

(D) The amount or the type of credit a consumer can expect to receive as a result of the performance of the services offered.

(E) The qualifications, training or experience of the organizationís personnel.

(b) Make, counsel or advise any consumer to make any statement that is untrue or misleading or that should be known by the exercise of reasonable care to be untrue or misleading with respect to a consumerís creditworthiness, credit standing or credit capacity to a credit reporting agency or a person to whom a consumer is applying for an extension of credit.

(c) Charge or receive any money or other valuable consideration prior to full and complete performance of the services the credit services organization has agreed to perform for the consumer.

(d) Charge or receive any money or other valuable consideration solely for referral of the consumer to a credit provider who will or may extend credit that is or will be extended to the consumer on substantially the same terms as those available to customers of the credit provider.

(e) Transact any business as a credit services organization without first having registered with the Department of Consumer and Business Services as required by ORS 646A.256.

(2) A consumer may cancel any contract between the consumer and a credit services organization at any time prior to midnight of the third business day after the date the contract is entered into. The consumer shall be entitled to a full refund of any fees paid. [Formerly 646.384]

Section:  Previous  646A.230  646A.232  646A.240  646A.242  646A.244  646A.250  646A.252  646A.254  646A.256  646A.258  646A.260  646A.262  646A.264  646A.266  646A.268  Next

Last modified: August 7, 2008