Section 12-703 – Jurisdiction of Commissioner of Financial Regulation
(a) If a complaint for violation of any provisions of this subtitle is filed with the Commissioner, the Commissioner shall investigate the complaint and may hold a hearing on it in accordance with the Administrative Procedure Act. (b) The Commissioner shall give to the creditor complained against at least 10 days’ written notice of the complaint and […]
Section 12-704 – Discrimination Prohibited; Compliance With or Violation of Federal Equal Credit Opportunity Act
With respect to any aspect of a credit transaction: (1) A creditor may not discriminate against any applicant on the basis of sex, marital status, race, color, religion, national origin, or age; (2) A creditor that complies with the applicable provisions of the federal Equal Credit Opportunity Act, or regulations adopted under the federal Equal Credit Opportunity […]
Section 12-705 – “Discriminatory Practices” Defined
Prohibited discriminatory practices include any: (1) Refusal to consider both applicants’ income when both parties of a marriage party apply for a joint account; (2) Refusal to consider alimony or child support awarded by a court and received by the applicant as a valid source of income, where that source can be verified as to its amount, […]
Section 12-626 – Repossession — Resale of Goods
(a) Subject to the provisions of subsection (b) of this section, the holder shall sell any repossessed goods at public auction if the buyer: (1) Has paid at least 50 percent of the cash price of the goods; and (2) Within the 15-day period provided for in § 12-625(a) of this subtitle, requests sale of the goods in […]
Section 12-706 – Administration of Subtitle
The provisions of this subtitle shall be administered by the Commissioner.
Section 12-627 – Repossession — Discharge of Agreement in Absence of Resale
If there is no resale of repossessed goods under § 12-626 of this subtitle, all obligations of the buyer under the agreement shall be discharged, and the holder may retain the goods as his own property without obligation to account to the buyer.
Section 12-707 – Civil Liability
(a) Notwithstanding the provisions of § 12–703 of this subtitle, any creditor who violates any provisions of this subtitle is liable to the applicant in an amount equal to the sum of any actual damages sustained by the applicant acting either in an individual capacity or as a representative of a class. (b) Any creditor who fails […]
Section 12-628 – Promissory Note
(a) If, as part of an installment sale, a promissory note is taken by a seller or sales finance company, the note shall refer to the agreement out of which it arises. (b) If the note is assigned, it is subject to all defenses which the buyer might have asserted against the seller or sales finance company, […]
Section 12-708 – Short Title
This subtitle may be cited as the Maryland Equal Credit Opportunity Act.
Section 12-629 – Waiver by Buyer Invalid
No act, agreement, or statement of a buyer in an agreement may constitute a valid waiver of any benefit or protection provided to him under this subtitle.