Section 14-4205 – Enforcement by Commissioner
The Commissioner may enforce this subtitle by exercising any of the powers authorized under §§ 2–113 through 2–116 of the Financial Institutions Article.
Section 14-4301 – Unit Defined
In this subtitle, “Unit” means the Senior and Vulnerable Adult Asset Recovery Unit.
Section 14-4302 – Unit in Office of Attorney General
There is a Senior and Vulnerable Adult Asset Recovery Unit in the Office of the Attorney General.
Section 14-4303 – Purpose of Unit — Legal Actions
(a) The purpose of the Unit is to protect seniors and vulnerable adults from financial crimes under § 8–801 of the Criminal Law Article. (b) The Unit may bring a civil action under § 13–204(a)(15) of this article or § 11–209(a) of the Corporations and Associations Article for damages against a person who violates § 8–801 of […]
Section 14-4304 – Funding of Unit — Use of Funds
(a) For fiscal year 2022 and each fiscal year thereafter, the Governor shall include in the State budget at least $250,000 to carry out this subtitle. (b) At the direction of the Attorney General, the Unit shall use the funds included in the State budget under subsection (a) of this section to: (1) Hire new staff for the […]
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 […]