N.M. Code R. § 12.18.10.7 - DEFINITIONS
A.
"Business
of lending" means any person or business entity engaged in the
origination of any extension of credit in the amount e amount of $10,000 or
less, or the acceptance of a credit application containing a consumer's
personal information beyond the below listed items:
(1) consumer's name;
(2) consumer's home address;
(3) consumer's phone number or electronic
mail address;
(4) purpose of the
potential loan; and
(5) loan amount
requested.
B.
"Marketing site" means any website, social media page, or mobile
application utilized only for marketing, advertising, or referring a consumer
to complete a credit application and which is not utilized by a small loan
business for the business of lending.
C.
"Business site" means any
website, social media page, or mobile application which a small loan business
utilizes to engage in the business of lending through such site.
Notes
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