1. A licensee who has been issued a license to operate a deferred deposit loan service pursuant to this chapter shall comply with the disclosure requirements of NRS 604A.405 and the Federal Truth in Lending Act. A loan agreement between such a licensee and a customer must fully disclose the terms of the transaction, including, without limitation, the amount of any fees charged for providing deferred deposit loan services represented in both a dollar amount and as an annual percentage rate.
2. A licensee described in subsection 1 shall prominently disclose in the loan agreement all fees charged for providing deferred deposit loan services to a customer before he or she enters into the transaction process.