Vermont § 10206 - Lead solicitations

§ 10206. Lead solicitations

• (a) As used in this section, “consumer” means a natural person residing in this State. (b) A person shall not use the name, trade name, or trademark of any financial institution
  in any written or oral advertisement or solicitation to a specifically identified
  consumer, or that contains specific information on the account or loan of a specifically
  identified consumer, for products or services, without the express written consent
  of the financial institution. (c) A person shall not include a loan number, loan amount, or any other specific loan
  information that is publicly available and relative to a specifically identified consumer
  in any written or oral solicitation for products or services unless the solicitation
  clearly and conspicuously states on the front page of the correspondence in bold-face
  type and in a type size at least equal to the body of the correspondence: (1) that the person is not affiliated with or sponsored by the financial institution; (2) that the solicitation is not authorized by the financial institution; (3) that the financial institution has not supplied the person with any loan information
  or personal or financial information referenced in the solicitation; and (4) the name, address, and telephone number of the person who paid for the solicitation. (d) The statements required by subsection (c) of this section shall also be given at the
  time of any oral solicitation to a specifically identified consumer. (e) In addition to any other authority provided elsewhere, the Commissioner may enforce
  violations of this section against any person and may impose penalties as set forth
  in sections 2110 and 2115 of this title; may recover costs and attorney’s fees, including court costs; may order any person
  to cease violating this section; and may take such other actions as the Commissioner
  deems necessary and appropriate. All administrative proceedings shall be conducted
  in accordance with 3 V.S.A. chapter 25 and any rules adopted by the Commissioner on hearing procedures. (f) A financial institution that has had its name, trade name, or trademark misrepresented
  in a solicitation in violation of this section may, in addition to any other remedy
  provided by law, bring an action in Superior Court in the county of its primary place
  of business or, if its primary place of business is located outside Vermont, in Washington
  Superior Court. The court shall award damages for each violation in the amount of
  actual damages demonstrated by the financial institution or $5,000.00, whichever is
  greater. In any successful action for injunctive relief or for damages, the court
  shall award the financial institution reasonable attorney’s fees and costs, including
  court costs. (g) A person’s failure to comply with the requirements of this section shall constitute
  an unfair and deceptive act in commerce enforceable under 9 V.S.A. chapter 63. (h) For purposes of this section, each solicitation sent to each consumer constitutes
  a separate violation. (Added 2009, No. 100 (Adj. Sess.), § 1; amended 2019, No. 20, § 100.)