(a) In this subtitle the following terms have the meanings indicated. (b) (1) “Adverse action” means a denial or revocation of credit, a change in the terms of an existing credit arrangement, or a refusal to grant credit in substantially the amount or on substantially the terms requested. (2) “Adverse action” does not include a refusal to extend additional […]
(a) Notwithstanding any other provision of this article, within 30 days after receipt of a completed application for credit, a lender or credit grantor shall notify the applicant of its action on the application. (b) Notwithstanding any other provision of this article, if the lender or credit grantor has acted adversely against or denied an application for […]
The written statement required by § 14-1702 of this subtitle shall disclose to the applicant: (1) The applicant’s right to a statement of reasons within 30 days after receipt by the lender or credit grantor of a request made within 60 days after notification, made under § 14-1702(a) of this subtitle; (2) The identity of the person […]
The written statement of reasons only meets the requirements of this subtitle if it contains the specific reasons for any adverse action taken.
Notwithstanding any other provisions of this subtitle, compliance with Subchapter IV of the federal Consumer Credit Protection Act and regulations promulgated thereunder shall constitute compliance with this subtitle.
(a) If a written complaint for violation of any provision of this subtitle or any other law of this State regulating loans or other extensions of credit is filed with the Commissioner of Financial Regulation, the Commissioner may investigate the complaint and hold a hearing on it in accordance with § 11-413 of the Financial Institutions […]
