Debt waivers exempt, when
Debt waivers from banks or credit unions that follow state or federal rules do not have to follow certain Missouri consumer protection laws. Also, those same laws do not apply when a debt waiver is part of a business deal rather than a personal one.
407.2055. Debt waivers , when. — 1. Debt waivers offered by state or federal banks or unions in with applicable state or federal law shall be exempt from the of sections 407.2020 to 407.2090.
2. The provisions of sections 407.2045 and 407.2080 shall not apply to debt waivers offered in connection with commercial transactions.
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Source & history notes
(L. 2023 S.B. 398)
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