Section 14-1908 – Surety Bonds — Requirement
A credit services business is required to obtain a surety bond pursuant to Title 11, Subtitle 3 of the Financial Institutions Article.
Section 14-1909 – Surety Bonds — Issuance
The surety bond shall be issued by a surety company authorized to do business in this State.
Section 14-1910 – Surety Bonds — Claims Against
(a) Any person claiming against the surety bond for a violation of this subtitle may maintain an action against the credit services business and against the surety. (b) The surety shall be liable only for actual damages and not for the punitive damages permitted under § 14-1912 of this subtitle. (c) The aggregate liability of the surety to […]
Section 14-1911 – Complaints
(a) Any consumer who has reason to believe that this subtitle has been violated by any credit services business or by any other person may file a written complaint setting forth the details of the alleged violation with the Commissioner. (b) After receiving the complaint, the Commissioner may inspect the pertinent books, records, letters and contracts of […]
Section 14-1912 – Failure to Comply With Requirements
(a) Any credit services business which willfully fails to comply with any requirement imposed under this subtitle with respect to any consumer is liable to that consumer in an amount equal to the sum of: (1) Any actual damages sustained by the consumer as a result of the failure; (2) A monetary award equal to 3 times the […]
Section 14-1913 – Limitation of Actions for Enforcement of Liability
(a) An action to enforce any liability created under this subtitle shall be brought within 2 years from the date the violation at issue occurred. (b) Where a defendant has materially and willfully misrepresented any information required to be disclosed to a consumer by this subtitle and the information is material to establishing defendant’s liability, the action […]
Section 14-1914 – Actions Under Consumer Protection Act
(a) Each sale of the services of a credit services business that violates any provision of this subtitle is an unfair or deceptive trade practice under Title 13 of this article. (b) If the Division of Consumer Protection of the Office of the Attorney General has reason to believe that any credit services business, or any salesperson, […]
Section 14-1915 – Fines and Punishments
(a) Except as provided in subsection (b) of this section, any person who violates any provision of this subtitle is guilty of a misdemeanor and, on conviction, is subject to a fine not exceeding $5,000 or imprisonment not exceeding 3 years or both, in addition to any civil penalties. (b) A person may not be imprisoned for […]
Section 14-1916 – Short Title
This subtitle may be cited as the “Maryland Credit Services Businesses Act”.
Section 14-1905 – Information to Be Included in Information Statement
(a) The information statement required under § 14-1904 of this subtitle shall include: (1) An accurate statement of the consumer’s right to review any file on the consumer maintained by any consumer reporting agency, and the right of the consumer to receive a copy of a consumer report containing all information in that file as provided under […]