MHHS · Consumer Protection Act
Part 9 — Cost of Credit Disclosure Division 1 Interpretation and Application
96 Recovery of payments and compensation
makes a payment to a credit grantor that by virtue of this Part the
credit grantor is not entitled to receive, the credit grantor must
refund the payment to the borrower or, if the parties agree, credit
the payment against the outstanding balance of the relevant credit
agreement as of the time the payment was made.
(2) A credit grantor who contravenes this Part or the regulations
must compensate a borrower for any loss the borrower suffers
because of the contravention, and the compensation to which the
borrower is entitled may be set off against the outstanding balance
of the relevant credit agreement or may be recovered in an action.
1998 cF-1.05 s96