HB 565 – VERSION ADOPTED BY BOTH BODIES
8Jan2014… 2299h
05/08/14 1614s
05/08/14 1753s
2013 SESSION
06/05
HOUSE BILL 565
AN ACT relative to the authority of the bank commissioner to investigate certain unfair or deceptive acts or practices.
SPONSORS: Rep. Schlachman, Rock 18; Rep. Copeland, Rock 19; Rep. Heffron, Rock 18
COMMITTEE: Commerce and Consumer Affairs
This bill authorizes the bank commissioner to investigate and prosecute certain deceptive practices.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
8Jan2014… 2299h
05/08/14 1614s
05/08/14 1753s
13-0001
06/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Thirteen
AN ACT relative to the authority of the bank commissioner to investigate certain unfair or deceptive acts or practices.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Bank Commissioner; Consumer Complaints and Restitution. Amend RSA 383:10-d to read as follows:
383:10-d Consumer Complaints and Restitution. The commissioner shall have exclusive authority and jurisdiction to investigate conduct that [is or may be an unfair or deceptive act or practice under RSA 358-A and exempt under RSA 358-A:3, I or that] may violate any of the provisions of RSA 361-A and Titles XXXV and XXXVI and administrative rules adopted thereunder. The commissioner may hold hearings relative to such conduct and may order restitution for a person or persons adversely affected by such conduct. The commissioner may request the assistance and services of the [consumer protection and antitrust bureau of the] department of justice and shall delegate to the department of justice the authority to investigate criminal conduct under this section. [In the instance of conduct involving an alleged criminal offense,] The commissioner shall [refer to] provide the department of justice [all aspects] information relevant to the criminal investigation [and prosecution of such matter] of such matters, if applicable, and shall cooperate with such investigation and prosecution.
2 New Section; Bank Commissioner; Unfair or Deceptive Act or Practice. Amend RSA 383 by inserting after section 10-g the following new section:
383:10-h Unfair or Deceptive Act or Practice.
I. No person engaging in trade or commerce, including without limitation, any business, activity, or transaction, that is subject to the jurisdiction of the bank commissioner may act in a manner that is or may be an unfair method of competition or an unfair or deceptive act or practice under RSA 358-A:2.
II. The commissioner shall have exclusive authority and jurisdiction to investigate conduct that is or may be an unfair method of competition or an unfair or deceptive act or practice under paragraph I, and may bring an administrative action to enforce such provisions as follows:
(a) Any person who violates paragraph I, may, upon notice and opportunity for hearing, and in addition to any such other penalty provided for by law, be subject to suspension, revocation, or denial of any registration, license, or charter, including forfeiture of any application fee, and may be ordered to provide restitution for a person or persons adversely affected by such conduct.
(b) Each method, act, or practice specified shall constitute a separate violation without regard to the number of persons affected thereby.
(c) The commissioner may authorize, with or without prior administrative action, the department of justice to file a civil enforcement action that alleges any unfair method of competition or any unfair or deceptive act or practice under this section. The court may apply any of the remedies allowed under RSA 358-A:4, III.
(d) Any person who knowingly violates paragraph I, shall be guilty of a misdemeanor for each violation if a natural person, or guilty of a felony if any other person. The commissioner shall delegate to the department of justice the authority to investigate criminal conduct under this section, shall provide the department of justice information relevant to the criminal investigation and prosecution of such matters, and shall cooperate with such investigation and prosecution.
3 Effective Date. This act shall take effect January 1, 2015.