Mortgage Lender and Broker Act; SCC to request Attorney Gen. to investigate violations thereunder. (SB1170)
Introduced By
Sen. John Watkins (R-Midlothian)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Mortgage Lender and Broker Act. Authorizes the State Corporation Commission to request the Attorney General to investigate violations of prohibited practices under the Mortgage Lender and Broker Act. The measure also provides that nothing in the Act shall be construed to preclude any person who suffers loss as a result of a violation of the prohibited practices from maintaining an action to recover damages or restitution. Finally, the measure deletes the existing exemption for mortgage lenders from the Virginia Consumer Protection Act. View Full Text »
Outcome
Bill Has Passed
View Bill's History
