Sec. 36a-534a. Notice of discriminatory lending practices. Violation as grounds for license suspension, revocation or nonrenewal.
Sec. 36a-534a. Notice of discriminatory lending practices. Violation as
grounds for license suspension, revocation or nonrenewal. (a) Any mortgage broker,
or mortgage lender or mortgage correspondent lender, as defined in section 36a-485
and licensed pursuant to section 36a-489, shall notify the commissioner by written affidavit if any such mortgage broker, mortgage lender or mortgage correspondent lender,
as a result of a transaction in which such mortgage broker, mortgage lender or mortgage
correspondent lender was involved, reasonably believes that the lending practices of a
financial institution or federal bank violate section 36a-737 or 46a-66. Such mortgage
broker, mortgage lender or mortgage correspondent lender shall provide the commissioner with any written document containing lending restrictions which a financial institution or federal bank has provided to such mortgage broker, mortgage lender or mortgage correspondent lender. In the event the commissioner finds that there is a reasonable
basis for said notification, the commissioner shall notify the Commission on Human
Rights and Opportunities of said notification and the action the commissioner plans to
take with respect thereto.
(b) The commissioner may suspend, revoke or refuse to renew the license of any
such broker or lender who violates subsection (a) of this section.
(P.A. 98-221; P.A. 99-36, S. 31; P.A. 02-111, S. 28; P.A. 08-176, S. 57.)
History: P.A. 99-36 made technical changes; P.A. 02-111 amended Subsec. (a) by adding references to "first" mortgage
broker, "secondary mortgage" broker and "mortgage" lender and made a technical change in Subsec. (b); P.A. 08-176
amended Subsec. (a) to add references to "mortgage correspondent lender" and make conforming changes, effective July
1, 2008.