TITLE 26

BANKS AND BANKING

CHAPTER 25

LOAN BROKERS

26-2505.  Administration — Enforcement — Actions for monetary relief. (1) The director of the Idaho department of finance shall have the power to administer and enforce the provisions of this chapter. Whenever it appears to the director that a loan broker has violated section 26-2503, Idaho Code, the director shall have the powers and remedies set forth in sections 67-2754, 67-2755, 67-2757, 67-2758 and 67-2759, Idaho Code.

(2)  The receiving of any fee, interest or other charge in violation of this chapter shall also be deemed an unfair and deceptive practice in violation of the Idaho consumer protection act; provided however, no person aggrieved by a violation of this chapter can recover or attempt to recover monetary relief under both this chapter and the Idaho consumer protection act, but rather such person must elect whether to file an action pursuant to this chapter or the Idaho consumer protection act.

History:

[26-2505, added 1979, ch. 298, sec. 1, p. 781; am. 1992, ch. 28, sec. 3, p. 90; am. 2005, ch. 265, sec. 19, p. 826.]