Responsible Lending and Marketing

MoneyMor.com is committed to working with responsible lenders who prohibit abusive, deceptive, or fraudulent lending practices. While MoneyMor.com is not a lending service and does not represent or endorse any lender, we strive to connect you with a lending partner who may offer you a loan. We aim to provide borrowers with adequate information about the loan application process and their responsibilities as consumers, helping them make informed and responsible decisions.

Before accepting any loan offer from a lender, we recommend thoroughly reviewing your lender’s policies. Each lender may have different loan terms and conditions. If you have any questions or concerns regarding the details of your loan, please contact your lender directly.

Many laws that protect borrowers are federal regulations known as Fair Lending Laws. Below are some important fair lending laws in effect in the U.S. ordered by the federal government.

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) is intended to protect consumers from lenders engaging in unfair lending practices. Title X (Consumer Financial Protection Act, or CFPA) of Dodd-Frank authorizes the Consumer Financial Protection Bureau (CFPB) to enforce Fair Lending Laws. All consumers using services provided by MoneyMor.com are encouraged to file a complaint with this agency if an issue arises concerning their loan.

The Truth in Lending Act (TILA) is designed to promote the informed use of consumer credit by requiring written disclosures of loan terms, costs, and fees before the consumer assumes any liability for the loan. TILA also grants consumers the right to cancel certain credit transactions involving a lien on the consumer’s home, provides a way for fair and timely resolution of credit billing disputes, and regulates credit card practices. However, the Act does not regulate the charges that may be imposed for consumer credit. Lenders in our network are required to provide consumers with clearly written and identifiable interest rates, late fees, rollover charges, and any other charges that may be associated with their loan before the consumer signs the loan documents.

The Equal Credit Opportunity Act (ECOA) prohibits lenders from discriminating against any borrower based on race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to contract), because the applicant receives income from a public assistance program, or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act (CCPA). ECOA also sets requirements for accepting applications and providing notices of any adverse action taken on the application within 30 days of receiving a complete application.

The Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of credit reporting agencies. Under the FCRA, consumers have the right to:

• Be informed if information in their file has been used against them;
• Know what is in their file;
• Receive a free disclosure every 12 months upon request from each nationwide credit bureau and from nationwide specialty consumer reporting agencies;
• Request a credit score from consumer reporting agencies for a fee;
• Dispute incomplete or inaccurate information in their file, with consumer reporting agencies required to correct or delete such information;
• Limit access to their file to those with a valid need for access; and
• Limit unsolicited credit offers and opt out of such communications.

Fair Lending Practices

MoneyMor.com supports all provisions of the Fair Debt Collection Practices Act (FDCPA), enforced by the Federal Trade Commission (FTC). We are not a lender and do not fund loans, so we do not engage in debt collection practices. However, we are committed to working only with reputable lenders who adhere to fair debt collection guidelines. These include, but are not limited to:

• Not contacting consumers by phone before 8:00 AM or after 9:00 PM;
• Not contacting consumers by phone with the intent to harass, annoy, or use abusive language to demean or threaten;
• Not attempting to collect the debt through deception or misrepresentation; and
• Not resorting to the threat of criminal charges or any legal action when such action is not permitted.

If at any time a lender behaves improperly or violates any debt collection law or regulation, including any statute of the FDCPA, we suggest you report the lender and such violations to the FTC. Any lender within our network that breaches these guidelines will be immediately removed from our network and reported to law enforcement.

Debt Collection Practices

It is important to MoneyMor.com that you understand the consequences of being late on your loan payments. Late payments on your loans may result in additional charges or collection activities, or both. Each of our third-party lenders has its own policies regarding late payments as governed by state loan regulations. We strongly encourage you to review the late payment policy provided in your loan document before signing it so that you can understand the policy and any potential charges and penalties.

Late Payment Implications

Failure to repay credit could result in collection activities. Each of our third-party lenders has its own policies regarding non-payment as governed by state loan regulations. MoneyMor.com strongly recommends reviewing your particular lender’s policy on non-payment, including the fees and penalties you may be subject to for non-payment. Lenders in our network are required to practice fair debt collection and comply with FTC policies.

Non-Payment Implications

Depending on your state’s laws, your lender may offer plans to renew your loan, rollover options, and other ways to extend the repayment period to help you make full payments. Please note that renewal plans presented by your lender should only be undertaken under special circumstances after making all relevant considerations because the costs involved will add to the amount of money you will have to repay.

Renewal Policy

While all lenders in our network follow federal regulations, individual states also have numerous laws for lending within their borders. These include strict compliance with local laws regarding interest rates, rollover limits and fees, filing limits, maximum loan terms, cooling-off periods between loans, and more. It is important that consumers educate themselves about their loan offer before deciding whether to accept it, including the federal and state laws, rules, and regulations that apply.

State Regulations

To register for MoneyMor services, you must agree to these Responsible Lending and Marketing Practices, as well as the Privacy Policy, Terms and Conditions, and Electronic Consent. By registering for MoneyMor.com services, you are applying for a loan referral from a lender within our network of lenders, with whom we may share your information (i.e., first and last name, address, phone number, bank information, etc.).

By registering on our site, you are also giving your express consent to receive promotional and advertising materials from MoneyMor.com, our lender network, and/or third-party marketing partners with whom we may share your information. They may also provide you with information about additional services and/or products. Additionally, you understand and agree that all communications, whether to assist you in obtaining the loan you requested or for promotional or other purposes, may be made by direct mail, email (at the email address you provided), and/or by phone/mobile device (at the numbers you provided), regardless of whether your email address and/or numbers may appear on a corporate, state, or federal Do Not Contact registry, a suppression list, or similar.

To opt-out of receiving such marketing materials and/or communications, you can request to be removed using the appropriate opt-out mechanism in such communications or by contacting the third parties directly. MoneyMor.com is not responsible for any promotional or advertising materials sent to you by the lender and other third parties and has no control over stopping all unwanted communications directed at you from sources outside its control. You will need to contact your lender and/or the sender of the communication directly to have your name and/or contact information removed from their recipient list.

Marketing Practices

The content of this Site is not intended to be and should not be taken as legal advice in any way and is not a substitute for qualified legal representation.