The MoneyMutual “Code of Lender Conduct”
Lenders participating in the MoneyMutual Lending Network are required to adhere to the following Code of Lender Conduct:
- Lenders shall not use your information to sell other products or services, or otherwise market to your information.
- Lenders shall not resell your information to any third-party, or otherwise use your information other than for the sole purpose of fulfilling the loan and/or communicating with you about your loan.
- Lenders shall provide a customer service phone number and shall be responsive and helpful in addressing your concerns. The lender shall attend to your questions, issues and complaints in a reasonable and professional manner, within 2 business days of request.
Lenders shall clearly and conspicuously present you with all relevant information about the terms and conditions of the loan before obtaining your consent, including, but not limited to:
- the amount of the loan;
- the term of the loan, including any renewal policies;
- schedule of payments, including when funds will be withdrawn;
- any fees or interest associated with the loan;
- consequences of late payment or non-payment;
- Lenders shall not engage in harassing or abusive collections practices and agree to comply with any and all applicable federal and state collections practices laws and regulations.
In the event that MoneyMutual determines that a lender is not acting in accordance with this Code of Lender Conduct, that lender’s participation in the MoneyMutual program is subject to suspension and/or possible termination.