Relates to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service

Added procedural history indicating the bill was reported to the Committee on Codes and recommitted in accordance with Assembly Rule 3, section 2.

Introduced a specific civil penalty of not exceeding five thousand dollars per offense for violations of the act.

Broadened the definition of punishable conduct to include any representation or omission of a material fact that misleads a consumer when their interpretation is reasonable under the circumstances.

Reorganized the list of punishable acts to clearly separate intentional fraud from broader misleading representations and specific violations of fair debt collection and lending laws.

Added 'negligent misrepresentation' to the list of punishable acts, requiring financial institutions to avoid careless failures to disclose material facts.

Expanded the grounds for civil penalties to cover a wider variety of misconduct, including unintentional but careless errors in disclosure.