Oregon Statutes 167.112 – Liability of certain entities engaged in certain financial transactions
Notwithstanding any other provision of law, a creditor, credit card issuer, financial institution, operator of a terminal at which an electronic funds transfer may be initiated, money transmission business or any national, regional or local network utilized to effect a credit transaction, electronic funds transfer or money transmission service that is not liable under ORS § 167.109:
Terms Used In Oregon Statutes 167.112
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
(1) May collect on any debt arising out of activities that are illegal under ORS § 167.109;
(2) Shall not be deemed to be participating in any activities that are illegal under ORS § 167.109 by reason of their processing transactions arising out of such activities or collecting debts arising out of such activities; and
(3) Shall not be liable under any provision of ORS § 166.715 to 166.735, 336.184 or 646.605 to 646.652 by reason of their processing transactions arising out of activities that are illegal under ORS § 167.109 or collecting debts arising out of such activities. [2001 c.502 § 3]