(a) As used in this section:(1) “Financing company”:(A) Means an entity that provides loans, loan extensions, or lines of credit to finance the purchase of a good or service; and(B) Does not include a financial institution subject to 12 C.F.R. Part 1005; and(2) “Statement” means a document that shows all of the activity on the account associated with the statement over a specific period of time.
(1) “Financing company”:(A) Means an entity that provides loans, loan extensions, or lines of credit to finance the purchase of a good or service; and(B) Does not include a financial institution subject to 12 C.F.R. Part 1005; and
(A) Means an entity that provides loans, loan extensions, or lines of credit to finance the purchase of a good or service; and
(B) Does not include a financial institution subject to 12 C.F.R. Part 1005; and
(2) “Statement” means a document that shows all of the activity on the account associated with the statement over a specific period of time.
(b) A financing company doing business in this state shall provide on its mailed or emailed statements to a consumer a conspicuously displayed telephone number that a consumer may contact for service.
(c) A violation of this section constitutes a violation of the Tennessee Consumer Protection Act of 1977, compiled in this part. A violation of this section constitutes an unfair or deceptive act or practice affecting trade or commerce and is subject to the penalties and remedies as provided in this part.