Oregon Statutes 646.633 – Action by prosecuting attorney prohibited without request of Director of Department of Consumer and Business Services
(1) For purposes of this section, ‘state regulated lender’ means:
Terms Used In Oregon Statutes 646.633
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(a) A banking institution as defined in ORS § 706.008;
(b) A credit union as defined in ORS § 723.006;
(c) A person that is required to be licensed under ORS § 725.045;
(d) A pawnbroker, as defined in ORS § 726.010, that is required to be licensed under ORS Chapter 726;
(e) A mortgage banker or mortgage broker, as those terms are defined in ORS § 86A.100, that is required to be licensed under ORS § 86A.095 to 86A.198; or
(f) A mortgage loan originator that is required to be licensed under ORS § 86A.200 to 86A.239.
(2) A prosecuting attorney may not take action under ORS § 646.618 or 646.632 with respect to an alleged unlawful practice under ORS § 646.607 or 646.608 when the conduct involves loans or extensions of credit and was engaged in by a state regulated lender unless requested to do so by the Director of the Department of Consumer and Business Services. In any action requested to be taken by the director under this subsection, the director may elect to be named as a party to the proceeding or suit.
(3) The Attorney General may not adopt rules under ORS § 646.608 (4) with respect to conduct involving loans or extensions of credit that is engaged in by a state regulated lender except with the prior review and approval of the proposed rules by the director. The Attorney General may not adopt rules under ORS § 646.608 (4) with respect to conduct involving loans or extensions of credit that is engaged in by a state regulated lender except as provided in this subsection.
(4) As soon as practicable upon receipt, the Attorney General shall provide the director with copies of any complaint or other initial pleading or any judgment received under ORS § 646.638 when the action involves the conduct of a state regulated lender. [2010 c.94 § 6; 2019 c.13 § 61]
[1965 c.490 4, 5; 1967 c.599 § 3; repealed by 1971 c.744 § 27]