|
By Mr. Nangle of Lowell, petition (accompanied by , House, No. 3925) of David M. Nangle relative to the confidentiality of loan applications. Consumer Protection and Professional Licensure. |
The Commonwealth of Massachusetts
——————
PETITION OF:
|
By Mr. Nangle of Lowell, petition (accompanied by , House, No. 3925) of David M. Nangle relative to the confidentiality of loan applications. Consumer Protection and Professional Licensure. |
The Commonwealth of Massachusetts
——————
PETITION OF:
——————
In the Year Two Thousand and Seven.
——————
|
An Act relative to the confidentiality of loan applications. |
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1: Section 51 of Chapter 93 of the General Laws as appearing in the 2004 Official Edition is hereby amended by inserting after (b), (2), the following new subparagraph (3):
(3) a consumer reporting agency shall not engage in or offer any service whereby the agency sells or otherwise makes available to a third party any information pertaining to a loan application a consumer has made with a bank or credit union as defined in Chapter 167, a mortgage company as defined in Chapter 255E or an entity subject to section 96 of Chapter 140.