Ask Reggi Your Question Now
Reggi is the free generative AI assistance for regulatory compliance
Can you summarize AZRS 6-639?
Loans from theft or fraud; consumer not responsible; correction of credit information
Short Summary
A licensee may not hold a person responsible for any loan amount that is incurred as a result of a violation of section 13-2008, 13-2009, 13-2010 or 13-2310. Within thirty days after a licensee is aware that a loan is a result of a violation of section 13-2008, 13-2009, 13-2010 or 13-2310, the licensee shall immediately correct any derogatory credit information that is reported to a consumer reporting agency as defined in section 44-1691 and that is the result of the violation.
Jurisdiction
Arizona