2015 New Hampshire Revised Statutes
Title XXXVI - PAWNBROKERS AND MONEYLENDERS
Chapter 399-G - LICENSING OF MONEY TRANSMITTERS
Section 399-G:17 - Consumer Inquiries.

NH Rev Stat § 399-G:17 (2015) What's This?


[RSA 399-G:17 effective until January 1, 2016; see also RSA 399-G:17 set out below.]
    399-G:17 Consumer Inquiries. –
    I. Consumer complaints naming licensees under this chapter, which are filed in writing with the office of the commissioner, shall be forwarded via certified or registered mail to the licensee for response within 10 days of receipt by the department. Licensees shall, within 30 days after receipt of such complaint, send a written acknowledgment thereof to the consumer and the banking department. Not later than 60 days following receipt of such complaint, the licensee shall conduct an investigation of the complaint and either:
       (a) Make appropriate corrections in the account of the consumer and transmit to the consumer and the banking department written notification of such corrections, including documentary evidence thereof; or
       (b) Transmit a written explanation or clarification to the consumer and the banking department which sets forth, to the extent applicable, the reasons why the licensee believes its actions are correct, including copies of documentary evidence thereof.
    II. A licensee who fails to respond to consumer complaints as required by this section within the time prescribed shall pay to the commissioner the sum of $50 for each day such response is overdue. For purposes of this section, the date of transmission shall be the date such response is received by the commissioner.
    III. (a) Licensees which, because of extenuating circumstances beyond the control of the licensee, are unable to comply with the time frames prescribed in this section, may make written request to the commissioner for a waiver of such time frames. Waivers shall not be granted or considered unless the request for the waiver:
          (1) Is received by the banking department within 50 days following the licensee's receipt of the complaint;
          (2) Specifies the reason for the request; and
          (3) Specifies a date certain by which the licensee shall comply with the provisions of this section.
       (b) Requests for waivers shall be either granted or denied within 5 days of receipt by the banking department.
    399-G:17 Money Laundering Reports and Federal Law Compliance. --
    I. Licensees shall create, implement, and file with the commissioner written plans for compliance with federal laws, including but not limited to the Bank Secrecy Act of 1970 as amended, and regulations, 31 U.S.C. section 5313, 31 C.F.R. part 1010, and other federal and state laws pertaining to currency reporting, recordkeeping, suspicious activity reporting, and money laundering with regards to money transmission transactions in this state.
    II. The timely filing with the appropriate federal agency of a complete and accurate report required by paragraph I complies with the requirements of this section, unless the commissioner notifies the licensee that reports of this type are not being regularly and comprehensively transmitted by the federal agency to the commissioner.

Source. 2015, 258:1, eff. Jan. 1, 2016.


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