Bill > S191

This bill amends Massachusetts law to prohibit the issuance of "unsolicited loan instruments" (such as negotiable checks or money orders that may be used to activate a loan or line of credit without the consumer's request) and to protect consumers from liability and adverse credit impacts resulting from the unauthorized use of such instruments. The bill also imposes criminal penalties for knowingly converting an unsolicited loan instrument into cash or equivalent value with intent to defraud. The Commissioner of Banks is tasked with adopting rules and regulations to implement the new law, which would also be enforceable under the state's consumer protection statute.

Labor and Employment

https://malegislature.gov/Bills/192/S191