Notwithstanding any general or special law to the contrary, a person, domestic or foreign corporation, partnership, association, limited-liability company, or similar entity shall not use the name, trade name, or trademark of any covered institution in any written or oral advertisement or solicitation for products or services, without the express written consent of the covered institution. For the purposes of this section, the word “covered institution” shall mean a regulated institution as defined in §?19-1-1, or a lender or loan broker licensed under chapter 14 of Title 19, or any subsidiary of any institution, lender, or broker; and the words “advertisement” or “solicitation” shall mean an email, direct-mail solicitation, or oral solicitation to a specifically identified consumer or that contains specific information on the account or loan of a specifically identified consumer.

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A person, domestic or foreign corporation, partnership, association, limited-liability company, or similar entity shall not make reference to a covered institution without the express written consent of the covered institution or make reference to a loan number, or other specific loan information, on the outside of an envelope, visible through the envelope window, or on a postcard in connection with any written solicitation or an email for products or services to a specifically identified consumer.

A person, domestic or foreign corporation, partnership, association, limited-liability company, or similar entity shall not include a loan number, or other specific loan information, other than the loan amount, relative to a specifically identified consumer that is publicly available in a written or oral solicitation for the purchase of products or services unless the solicitation clearly and conspicuously states in bold-face type on the front page of the correspondence that the person, domestic or foreign corporation, partnership, association, limited-liability company, or similar entity is not sponsored by, or affiliated with, and that the solicitation is not authorized by the covered institution. The statement shall include the name, address, and telephone number of the person making the solicitation and that any loan information referenced was not provided by the covered institution. The statements required in this paragraph shall also be given at the time of any oral solicitation to a specifically identified consumer.

A person, domestic or foreign corporation, partnership, association, limited-liability company, association, or similar entity, which is considered to have violated this section, shall be considered to have engaged in an unfair and deceptive practice.

A covered institution that has had its name, trade name, or trademark used in violation of this section may, in addition to any other remedy provided by law, bring an action in the superior court in which venue the covered institution has an office to enjoin an act in violation of this section and recover damages. The court shall award damages in the amount of actual damages or ten thousand dollars ($10,000) per violation, whichever is greater. In any successful action for injunctive relief or for damages, the court shall award the covered institution, attorney’s fees and costs, including court costs.

This chapter shall not apply to, nor shall any action be brought against, the use of a name, trade name, or trademark of any covered institution where such use would constitute fair use under federal law.