(a) (1) Except for a credit union authorized to do business in this State, a person may not: (i) Use or advertise any name or title that contains the words “credit union” or any derivation of that term; (ii) Represent itself as a credit union; (iii) Conduct business as a credit union; or (iv) Conduct business under a name or title […]
(a) A person may not willfully make, circulate, or send to another person any untrue statement that is derogatory to the financial condition or that affects the solvency or financial standing of any credit union doing business in the State, or counsel, aid, procure, or induce another to make, circulate, or send to another person such […]
(a) An officer, official, or employee of a credit union may not willfully and knowingly make or cause to be made a false statement or false entry in the records of the credit union or, with the intent to deceive a person authorized to examine the affairs of the credit union, sign or exhibit false records. […]
(a) An officer or official who in any way knowingly permits or participates in making a loan in violation of § 6-611 of this title is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $3,000 or imprisonment not exceeding 5 years or both, per occurrence. (b) If a loan is made […]
(a) The Commissioner may order a credit union, or enter into an agreement with a credit union, to take corrective action if the Commissioner finds that the credit union: (1) Has failed to file a report when due; (2) Is insolvent; (3) Has violated any provision of this title; or (4) Is engaged in an unsafe or unauthorized practice. (b) (1) Before […]
(a) The Commissioner shall order any credit union to cease and desist from: (1) An unsafe or unsound practice; (2) A practice that is injurious to the public interest; or (3) A violation of laws or rules or regulations that relate to the Commissioner’s supervision of the credit union. (b) To protect depositors or members, the Commissioner may include in […]
(a) After notice and a hearing, the Commissioner may assess a civil penalty against a credit union that the Commissioner determines has: (1) Violated a cease and desist order issued by the Commissioner under § 6–906 of this subtitle; or (2) Engaged in: (i) An unsafe or unsound practice; or (ii) A practice that is injurious to the public interest. […]
(a) In this section, “extraordinary circumstances” means a situation presenting specific concerns about the prompt withdrawal of money from, or the safety and soundness of, a credit union. (b) In extraordinary circumstances and with the consent of the credit union, the Commissioner may close to the public a hearing concerning the assessment of a civil penalty, an […]
(a) (1) If the Commissioner believes that an officer or official has engaged in an unsafe or unsound practice, the Commissioner shall send a warning to the officer or official. (2) If the Commissioner finds that the officer or official has continued to engage in the unsafe or unsound practice, the Commissioner may report the facts to the […]
(a) If the Commissioner believes that any officer, official, agent, or employee of a credit union has violated any provision of this title, the Commissioner may report the violation directly to the Secretary of Labor and to the Attorney General who shall take the appropriate steps to institute a prosecution for the violation. (b) (1) The Commissioner shall […]
