Section 14-4103 – Civil Actions
Whenever the Office and the Commissioner consider it appropriate, the Office and the Commissioner shall use their authority under § 1042 of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 to bring civil actions or other appropriate proceedings authorized under the Act.
Section 14-4104 – Annual Appropriations
(a) (1) For fiscal year 2020 and each fiscal year thereafter, the Governor shall include an appropriation of at least $700,000 in general funds in the State budget for the Office for the purposes of enforcement of: (i) Consumer protection laws under this title; (ii) Consumer protection laws under Title 13 of this article; and (iii) Financial consumer protection laws. […]
Section 14-3805 – Oral Disclosures
(a) At the time a consumer applies through a facilitator for a refund anticipation loan, the facilitator orally shall inform the consumer: (1) That the product is a loan that lasts 1 to 2 weeks; (2) That if the consumer’s tax refund is less than expected, the consumer is liable for the full amount of the refund anticipation […]
Section 14-4201 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) “Commissioner” means the Commissioner of Financial Regulation in the Maryland Department of Labor. (c) “Consumer borrower” means an individual receiving a loan or other extension of credit for personal, household, or family purposes. (d) “Mobile home” has the meaning stated in § 11–501 of the Financial Institutions […]
Section 14-3806 – Prohibited Acts by Facilitator
(a) A facilitator may not: (1) Require a consumer to enter into a loan agreement in order to complete a tax return; (2) Charge any fee to a consumer or require any other consideration for making or facilitating a refund anticipation loan or refund anticipation check other than the fee imposed by the creditor or other person that […]
Section 14-4202 – Duty of Good Faith and Fair Dealing With Prospective Borrower
(a) In this section, “steer” means, in connection with a consumer credit transaction secured by a mobile home, to direct a prospective consumer borrower to complete a transaction in any way based on the fact that a mobile home retailer will receive compensation, directly or indirectly, from a lender or credit grantor that is in excess […]
Section 14-3807 – Violations; Penalties; Liabilities
(a) A violation of this subtitle is: (1) An unfair or deceptive trade practice within the meaning of Title 13 of this article; and (2) Subject to the enforcement and penalty provisions contained in Title 13 of this article. (b) In addition to the remedies provided under Title 13 of this article, a facilitator who willfully fails to comply […]
Section 14-4203 – Statement Provided by Mobile Home Retailer
(a) (1) The statement required under § 14–4202(b)(3) of this subtitle shall be on a form prescribed by the Commissioner by regulation. (2) If the form prescribed by the Commissioner is included in other documents provided by the mobile home retailer to a prospective consumer borrower, the form shall be conspicuous, such as through the use of a […]
Section 14-3901 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) “Arbitration activity” means the initiation, conduct, sponsorship, or administration of, or the appointment of an arbitrator in, a consumer arbitration. (c) “Arbitration organization” means a nongovernmental association, agency, board, commission, corporation, or other entity that performs arbitration activities. (d) “Consumer” means an individual who is: (1) A resident […]
Section 14-4204 – Transaction Valid Despite Noncompliance
Failure of a mobile home retailer to comply with this subtitle does not affect the validity of an otherwise valid financing transaction.