Title 45, Banks And Financial Institutions

(a) In addition to any other powers conferred upon the commissioner by law, the commissioner is authorized to require persons subject to this chapter to be licensed through a multi-state automated licensing system. Pursuant to this authority, the commissioner may:(1) Promulgate w…

The commissioner is authorized to use a multi-state automated licensing system as an agent for channeling information, whether criminal or noncriminal in nature, whether derived from or distributed to the United States department of justice or any other state or federal governmen…

(1) In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing:(1) The requirements under any federal or state law regarding the privacy or confidentiality of any information or material provided to a multi-state automated l…

This chapter shall be known and may be cited as the “Check Cashing Act of 1997.”

(1) As used in this chapter, unless the context requires otherwise:(1) “Applicant” means a person filing an application for a license under this chapter;(2) “Check” means any payment instrument;(3) “Check casher” means a person who, for compensation, provides currency in exchange…

(1) This chapter does not apply to:(1) Any bank, trust company, credit union, building and loan association, savings bank or mutual bank organized under the laws of any state or the United States;(2) Persons who offer a check cashing service without receiving, directly or indirec…

(a) No person shall engage in, or in any manner advertise engagement in, the business of cashing payment instruments without first obtaining a license under this chapter. A separate license shall be required for each location from which the business is conducted. (b) Any licensed…

(a) Each applicant for a license shall demonstrate, and each licensee shall maintain, a minimum net worth of at least twenty-five thousand dollars ($25,000) for each location. (b) Every corporate applicant, at the time of filing an application for a license under this part and at…

Each application for a license under this chapter shall be made in writing under oath, and in a form prescribed by the commissioner.

(1) Each application for a license shall be accompanied by:(1) A nonrefundable supervision fee, as provided in § 45-1-118(i). The supervision fee shall be applicable to each location; and(2) Financial statements for the immediately preceding fiscal year end prepared in accordance…

(a) Upon the filing of a properly completed application, accompanied by the nonrefundable supervision fee, as provided in § 45-1-118(i), and other required documents, the department shall investigate to ascertain whether the qualifications and requirements prescribed by this chap…

(a) (1) Licenses issued pursuant to this chapter expire on December 31. A license may be renewed for the ensuing twelve-month period upon application by the license holder showing continued compliance with the qualifications for a license, filing of the completed renewal form, an…

(a) No licensee shall change its address unless it has given fourteen (14) days prior notice to the commissioner. (b) No licensee shall change its name unless it has given fourteen (14) days prior notice to the commissioner. (c) A change in control of a licensee shall require pri…

(1) A licensee may operate the businesses regulated under this chapter at a location where any other business is operated or in association or conjunction with any other business as long as the licensee gives prior written notification to the commissioner and the other business i…

(1) Within fifteen (15) days of the occurrence of any one (1) of the events listed in subdivisions (1)-(6), a licensee shall file a written report with the commissioner describing the event and its expected impact on the activities of the licensee in the state:(1) The filing for …

(a) The commissioner may conduct periodic examinations of a licensee to determine compliance with this chapter. In conducting the examination, the commissioner or the commissioner's staff shall have full and free access to all the books, papers and records of the licensee and may…

(a) Each licensee shall make, keep and preserve the books, accounts, records, and documents as the commissioner may determine by rule. (b) All records of the check cashing business shall be maintained separately by the licensee from any other business in which the licensee may en…

(a) After notice and an opportunity for a hearing, the commissioner may suspend or revoke a license if the commissioner finds that:(1) Any fact or condition exists that, if it had existed at the time when the licensee applied for its license, would have been grounds for denying t…

The Uniform Administrative Procedures Act, compiled in title 4, chapter 5, applies to any hearing afforded pursuant to this chapter.

(1) If, after notice and an opportunity for a hearing, the commissioner finds that a person has violated this chapter or a rule adopted under this chapter, the commissioner may, in addition to all other powers conferred in this chapter:(1) Order the person to cease and desist vio…

(a) The commissioner may enter into consent orders at any time with any person to resolve any matter arising under this chapter. A consent order shall be signed by the person to whom it is issued or a duly authorized representative, and must indicate agreement to the terms contai…

(a) Any person who knowingly and willfully violates any provision of this chapter or any order or rule pursuant thereto for which a penalty is not specifically provided commits a Class C misdemeanor. Each day the violation occurs is a separate offense. (b) Any person who knowingl…

(a) Any person aggrieved by the conduct of a licensee under this chapter in connection with the regulated activities, may file a written complaint with the commissioner who may investigate the complaint. (b) In the course of the investigation of the complaint, the commissioner ma…

(a) Before a licensee deposits with any financial institution a payment instrument that is cashed by a licensee, the item must be endorsed with the actual name under which the licensee is doing business. Additionally, the words “Licensed Check Cashing Business” must be written le…

(a) In addition to any other powers imposed upon the commissioner by law, the commissioner is authorized to require persons subject to this chapter to be licensed through a multi-state automated licensing system. Pursuant to this authority, the commissioner may:(1) Promulgate any…

The commissioner is authorized to use a multi-state automated licensing system as an agent for channeling information, whether criminal or noncriminal in nature, and whether derived from or distributed to the United States department of justice, any other state or federal governm…

(1) In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing:(1) The requirements under any federal or state law regarding the privacy or confidentiality of any information or material provided to a multi-state automated l…

(a) All financial institutions conducting business in this state shall enter agreements with the department of human services to develop and operate, in coordination with the department of human services, and the federal parent locator service in the case of financial institution…

(a) A “financial institution,” as defined in § 45-19-101(e), or any financial institution's contractor that may process any records pursuant to this chapter, shall be absolutely immune from any civil or criminal liability under common law or under any contract, statute or regulat…

This chapter shall be known and may be cited as the “Tennessee Home Loan Protection Act.”

(1) As used in this chapter, unless the context otherwise requires:(1) “Affiliate” means any company that controls, is controlled by, or is under common control with another company, as set forth in the federal Bank Holding Company Act of 1956 (12 U.S.C. § 1841 et seq.), and the …

(1) The following acts and practices are prohibited in the making of a high-cost home loan:(1) No lender shall recommend or encourage default or skipping a payment on an existing loan or other debt prior to and in connection with the closing or planned closing of a high-cost home…

(a) If a lender or servicer asserts that grounds for acceleration exist and requires the payment in full of all sums secured by the security instrument of a high-cost home loan, the borrower, or anyone authorized to act on the borrower's behalf, shall have the right at any time, …

(a) Notwithstanding any other provision of law, any person who purchases or is otherwise assigned a high-cost home loan shall be subject to all claims and defenses with respect to the high-cost home loan that the borrower could assert against the lender of the high-cost home loan…

(a) No person shall, with the intent to avoid the application or provisions of this chapter:(1) Divide a loan transaction into separate parts;(2) Structure a loan transaction as an open-end credit plan for the purpose and with the intent of evading this chapter, when the loan wou…

(a) Except as provided in § 45-20-108, any lender found by a preponderance of the evidence to have violated this chapter shall be subject to the following:(1) The making of a high-cost home loan that violates one (1) or more of the provisions found in § 45-20-103(1), (4)-(14), (1…

(a) A lender or servicer, as applicable, of a high-cost home loan who, when acting in good faith, fails to comply with § 45-20-103, § 45-20-104, or § 45-20-106 shall not be deemed to have violated the section, if the lender or servicer establishes that either:(1) Within thirty (3…

(a) The commissioner is granted the power to interpret this chapter and to enact reasonable substantive and procedural rules as are necessary and proper for the administration, enforcement and interpretation of this chapter. (b) (1) For the purpose of discovering violations of th…

(1) All counties, municipalities, or political subdivisions of this state are prohibited from enacting and enforcing ordinances, resolutions, and rules regulating financial and lending activities, including ordinances, resolutions, and rules disqualifying persons from doing busin…

This chapter shall apply to all high-cost home loans applied for and closed on or after January 1, 2007; provided, that this chapter shall not apply to the extent it is preempted by, or is in conflict with or inconsistent with the National Bank Act (12 U.S.C. § 21 et seq.), the H…