(1)(a) The Director of the Department of Consumer and Business Services, by contract with a vendor or service provider or otherwise, may develop and implement a system by means of which a licensee may:
Determine whether a consumer has an outstanding loan;
Determine the number of loans the consumer has outstanding;
A vendor or service provider that operates or administers the system described in subsection (1) of this section may charge a licensee a fee or fees for access to or use of the system in amounts that the director approves by rule. The licensee may not charge a consumer, directly or indirectly, any amount to recover or otherwise compensate for the cost of a fee the licensee pays under this subsection.(4)(a) If the system described in subsection (1) of this section is developed and implemented, licensees subject to ORS 725A.010 (Definitions) to 725A.092 (Rules) and 725A.990 (Penalties), within one business day after conducting a loan transaction that generates information that the system described in subsection (1) of this section requires, shall enter or update the information.
Within 10 business days after ceasing to make loans subject to ORS 725A.010 (Definitions) to 725A.092 (Rules) and 725A.990 (Penalties), a licensee shall submit to the director for approval a plan for continuing compliance with this subsection. The director shall promptly approve or disapprove the plan and may require the licensee to submit a new or modified plan that ensures compliance with this subsection.
The director by rule shall establish requirements for retaining, archiving and deleting information entered into or stored by the system described in subsection (1) of this section. [2010 c.23 §26; 2017 c.215 §1]