Ohio Revised Code Search

...(A) As used in this section and section 1349.192 of the Revised Code: (1) "Agency of a political subdivision" has the same meaning as in section 1347.12 of the Revised Code. (2) "Business" has the same meaning as in section 1349.19 of the Revised Code. (3) "State agency" has the same meaning as in section 1.60 of the Revised Code. (B) The attorney general may conduct an investigation if the attorney general, base...

...he exclusive authority to bring a civil action in a court of common pleas for appropriate relief under this section, including a temporary restraining order, preliminary or permanent injunction, and civil penalties, if it appears that a state agency or an agency of a political subdivision has failed or is failing to comply with section 1347.12 of the Revised Code or that a person has failed or is failing to comply wi...

...en instrument or document in the public records or by direct tender to the appropriate person. (F) "Negotiable instrument" has the same meaning as in section 1303.03 of the Revised Code. (G) "Residential real property" means any real property improved or to be improved with a one- to four-family dwelling.

...knowingly shall make, in an escrow transaction, a disbursement from an escrow account on behalf of another person, unless the following conditions are met: (A) The funds necessary for the disbursement: (1) Have been transferred electronically to or deposited into the escrow account of the escrow or closing agent and are immediately available for withdrawal and disbursement; (2) Are in an aggregate amount not excee...

... on behalf of a party to an escrow transaction for the purpose of paying incidental fees, such as conveyance and recording fees, in order to effect and close the sale, purchase, exchange, transfer, encumbrance, or lease of residential real property that is the subject of the escrow transaction.

... to 1349.37 of the Revised Code: (A) "Actuarial method" means the method of allocating payments made on a debt between the amount financed and the finance charge pursuant to which a payment is applied first to the accumulated finance charge and any remainder is subtracted from, or any deficiency is added to, the unpaid balance of the amount financed. (B) "Consumer" means a natural person to whom credit is offered ...

...wing: (1) In the case of a credit transaction with a fixed rate of interest, the annual percentage rate, the amount of the regular monthly payment, and the amount of any balloon payment; (2) In the case of any other credit transaction, the annual percentage rate of the loan, the amount of the regular monthly payment, a statement that the interest rate and monthly payment may increase, and the amount of the maximum ...

...less favorable to the consumer than the actuarial method. Division (A)(1) of this section does not apply to a prepayment penalty imposed in accordance with section 129(c)(2) of the "Home Ownership and Equity Protection Act of 1994," 108 Stat. 2190, 15 U.S.C.A. 1639(c)(2), as amended, and the regulations adopted thereunder by the federal reserve board, as amended. (2) Terms under which the outstanding principal bala...

...(A) The superintendent of financial institutions shall, in accordance with Chapter 119. of the Revised Code, adopt rules that establish criteria for purposes of qualifying counseling services that provide prepurchase counseling to consumers. (B) Any not-for-profit credit counseling service approved by an agency of the federal government shall be deemed to meet the criteria established by the superintendent under thi...

...If a covered loan transaction includes any term prohibited by section 1349.27 of the Revised Code, the consumer shall have the right to rescind the transaction in accordance with section 129(j) of the "Home Ownership and Equity Protection Act of 1994," 108 Stat. 2190, 15 U.S.C.A. 1639(j), as amended, and the regulations adopted thereunder by the federal reserve board, as amended.

...ode, and prior to the initiation of any action by the superintendent under divisions (C) to (F) of section 1349.34 of the Revised Code or the receipt of written notice of the error from the consumer, the person notifies the consumer or other person concerned of the error and makes whatever adjustments in the appropriate account are necessary to assure that the consumer will not be required to pay an amount in excess ...

...n section 112 of the "Truth in Lending Act," 82 Stat. 146 (1968), 15 U.S.C.A. 1611, as amended. (2) Whoever violates division (A)(1) of this section is guilty of a felony of the fifth degree. (B) The superintendent of financial institutions may directly bring an action to enjoin a violation of this section. The attorney general may directly bring an action against a mortgage broker, loan officer, or nonbank ...

...e "Home Ownership and Equity Protection Act of 1994," 108 Stat. 2190, 15 U.S.C.A. 1601 note, as amended, and the regulations and interpretations adopted thereunder by the federal reserve board, in order to facilitate the uniform administration and enforcement of state and federal laws on the regulation of certain high cost mortgages. In furtherance of that purpose, the regulations and interpretations adopted by the ...

...e "Home Ownership and Equity Protection Act of 1994," 108 Stat. 2190, 15 U.S.C.A. 1601 note, as amended, or any regulation adopted thereunder by the federal reserve board, as amended, is amended or otherwise modified after the effective date of this section, the superintendent of financial institutions may by rule adopt similar provisions. If an amendment or other modification to the "Home Ownership and Equity Prote...

...aging in, or is about to engage in, any activity constituting a failure to comply with section 1349.26 or 1349.27 of the Revised Code, the superintendent may make application to the court of common pleas of any county in this state for an order enjoining any such activity. Upon a showing by the superintendent that a person has engaged in, is engaging in, or is about to engage in, any activity constituting a failure t...

...nts received, the number of enforcement actions taken, and any other relevant data regarding covered loans.

...The superintendent of financial institutions may, in accordance with Chapter 119. of the Revised Code, adopt reasonable rules to administer and enforce sections 1349.25 to 1349.35 of the Revised Code and to carry out the purpose of those sections as stated in section 1349.32 of the Revised Code.

...r 1349.27 of the Revised Code; (D) Contacting the persons that are the subject of such complaints, on behalf of the consumers; (E) Referring matters to the superintendent of financial institutions for action under section 1349.34 of the Revised Code.

...(B) A lender shall not engage in a transaction, practice, or course of business that is not in good faith or fair dealing, or that operates a fraud upon any person, in connection with the attempted or actual making, purchase, or sale of any mortgage loan. (C) If a lender fails to comply with division (B) of this section, the affected consumer may recover damages of not less than all compensation paid directly or ind...

...of the following: (1) The enforcement actions taken by the superintendent of financial institutions for each violation of or failure to comply with any provision of Chapter 1322. of the Revised Code, upon final disposition of the action; (2) The enforcement actions taken by the attorney general under Chapter 1345. of the Revised Code against loan officers, mortgage brokers, and nonbank mortgage lenders, upon fina...

...pect to the following: (1) Enforcement actions instituted by the superintendent for a violation of or failure to comply with any provision of Chapter 1322. of the Revised Code, and their final dispositions; (2) Suspensions, revocations, or refusals to issue or renew certificates of registration and licenses under Chapter 1322. of the Revised Code; (3) Outreach efforts of the office of consumer affairs to provide ...

...(A) As used in this section, "financial institution" means any bank, savings and loan association, savings bank, or credit union; any affiliate or subsidiary of a bank, savings and loan association, savings bank, or credit union; any registrant as defined in section 1321.51 of the Revised Code ; or any person registered as a mortgage lender under Chapter 1322. of the Revised Code. (B) No person shall use the name or...

...anings as in the "Fair Credit Reporting Act," 84 Stat. 1128 (1970), 15 U.S.C.A. 1681a, as amended. (2) "Licensed resident insurance agent" means any natural person or business entity licensed as a resident insurance agent under section 3905.06 of the Revised Code. (B) No consumer reporting agency shall sell or otherwise furnish any information relative to an individual's insurance coverage that was submitted, in wh...

...provide the following written notice: "Ohio Consumers Have the Right to Obtain a Security Freeze: You may obtain a security freeze on your credit report to protect your privacy and ensure that credit is not granted in your name without your knowledge. You have a right to place a "security freeze" on your credit report pursuant to Ohio law. The security freeze will prohibit a consumer credit reporting agency from re...

..., credit standing, credit capacity, character, general reputation, or personal characteristics. (D) A consumer credit reporting agency shall remove a security freeze placed on a credit report only in the following cases: (1) If the credit report was frozen due to a material misrepresentation of fact by the protected consumer's representative. If a consumer credit reporting agency intends to remove a security freeze...