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Can I collect debit card information from participants in Mississippi? What are the requirements?
Based on the provided context documents, it is not clear what type of participants you are referring to or what purpose you have for collecting their debit card information. However, it is important to note that the Mississippi Credit Availability Act (MCAA) regulates credit availability transactions and requires Licensees to provide a written explanation of fees and charges to be charged and the due dates for all payments before a credit availability transaction is finalized [2.1]. Additionally, the MCAA requires Licensees to maintain customer records that include the name and address of the account holder(s), date of the credit availability transaction, and amount and date of receipt of all payments, among other information [2.1].
If you are collecting debit card information as part of a credit availability transaction, you must comply with the MCAA’s record-keeping requirements and provide a written explanation of fees and charges to the account holder. However, if you are collecting debit card information for a different purpose, such as for a non-credit related transaction, it is recommended that you consult with a legal professional to ensure compliance with applicable laws and regulations.
In summary, without more information about the purpose and context of collecting debit card information from participants in Mississippi, it is not possible to provide a definitive answer.
Source(s):
Jurisdiction
Mississippi