(1) Any written solicitation to induce a person to apply for or obtain credit shall include

(a) the name and business address of the lender;

(b) the nature of the proposed credit agreement;

(c) the lender’s current annual interest rate and other costs of credit;

(d) whether deposit or security is required;

(e) whether residual payment will be required;

(f) whether other restrictions apply; and

(g) Any other information determined by the Bank.

(2) A person who makes an oral solicitation to induce a person to apply for or obtain credit shall provide a written statement which contains the information set out in subsection (1).