Ohio Revised Code Search

...om an escrow account or otherwise 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.

...9.37 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 or exte...

... period. (E) Compliance with sections 226.31(c)(1) and 226.32(c) of Title 12 of the Code of Federal Regulations, as amended, shall be deemed compliance with this section.

...A creditor shall not do any of the following: (A) Make a covered loan that includes any of the following: (1) Terms under which a consumer must pay a prepayment penalty for paying all or part of the principal before the date on which the principal is due. For purposes of division (A)(1) of this section, any method of computing a refund of unearned scheduled interest is a prepayment penalty if it is less favorable t...

...(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...

....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.

...any failure to comply with section 1349.26 or 1349.27 of the Revised Code, if within sixty days after discovering the error, whether pursuant to the person's own procedures or an examination or investigation by the superintendent under division (A) or (B) of section 1349.34 of the Revised Code, and prior to the initiation of any action by the superintendent under divisions (C) to (F) of section 1349.34 of the Revised...

...wingly fail to comply with section 1349.26 or 1349.27 of the Revised Code. For purposes of division (A)(1) of this section, "willfully and knowingly" has the same meaning as in 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 instituti...

...ions include the amendment of sections 226.32 and 226.34 of Title 12 of the Code of Federal Regulations, which amendment was approved by the federal reserve board on December 12, 2001, and takes effect October 1, 2002.

...gulation 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 Protection Act of 1994" requires the adoption of implementing regulations by the federal reserve board, the superintend...

...g 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 to comply with section 1349.26 or 1349.27 of the Revised Code...

...The superintendent of financial institutions shall include, as part of the annual report required by section 1181.09 of the Revised Code, the number of complaints 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.

...ed failures to comply with section 1349.26 or 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.

...ction: (1) "Consumer" means an individual to whom credit is offered or extended primarily for personal, family, or household purposes. (2) "Lender" means a nonbank mortgage lender as defined in section 1345.01 of the Revised Code. "Lender" does not include a person that purchases or is assigned a loan or that functions solely as the servicer of a loan. (3) "Mortgage" has the same meaning as in section 1322.01 of t...

...ode. (B) The department of commerce shall establish and maintain an electronic database accessible through the internet that contains information on all 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 act...

...(A) The superintendent of financial institutions shall report semiannually to the governor and the general assembly on the operations of the division of financial institutions with respect 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, revocatio...

...(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...

...esident 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 whole or in part, in conjunction with an insurance company's inquiry into an individual's credit history or request f...

...3) "Credit report" means any written, oral, or other communication of any credit information by a consumer credit reporting agency that operates or maintains a database of consumer credit information bearing on a consumer's credit worthiness, credit standing, or credit capacity. "Credit report" includes a credit record created for the purposes of complying with section 1349.521 of the Revised Code. (4) "Credit recor...

... a protected consumer's credit report shall provide to the credit reporting agency sufficient proof of authority and, for both the representative and the protected consumer, sufficient proof of identity. (B)(1) A consumer credit reporting agency shall place a security freeze on a credit report not later than thirty days after receiving a request pursuant to division (A)(1) of this section and the information requir...

...civil action, the consumer may recover all of the following: (1) Actual damages sustained by the consumer as a result of the consumer credit reporting agency's failure to comply with division (C) or (J) of section 1349.52 of the Revised Code or damages of not less than one hundred dollars and not more than one thousand dollars, whichever is greater; (2) Punitive damages; (3) Court costs and reasonable atto...

... an amount out of the proceeds of any realized settlement, judgment, award, or verdict the consumer may receive in the civil lawsuit. (2) "Company" means a person or entity that enters into a non-recourse civil litigation advance transaction with a consumer. (3) "Consumer" means a person or entity residing or domiciled in Ohio and represented by an attorney with a pending civil claim or action. (B) All contract...

... of this section, no person or entity shall sell a gift card to a purchaser containing an expiration date that is less than two years after the date the gift card is issued. (2) No person or entity, within two years after a gift card is issued, shall charge service charges or fees relative to that gift card, including dormancy fees, latency fees, or administrative fees, that have the effect of reducing the total amo...

...101 of the "Magnuson-Moss Warranty-Federal Trade Commission Improvement Act," 15 U.S.C. 2301 and 16 C.F.R. 700.1. (B) "High-volume third party seller" means a participant on an online marketplace's platform that is a third party seller and that, in any continuous twelve-month period during the previous twenty-four months, has entered into two hundred or more discrete sales or transactions of new or unused consumer ...