Maryland EWA legislation draws protest
Payments Dive
JANUARY 25, 2024
A Maryland bill calling for some earned wage access providers to be registered and licensed has triggered opposition from fintech advocates.
This site uses cookies to improve your experience. By viewing our content, you are accepting the use of cookies. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country we will assume you are from the United States. View our privacy policy and terms of use.
Payments Dive
JANUARY 25, 2024
A Maryland bill calling for some earned wage access providers to be registered and licensed has triggered opposition from fintech advocates.
CFPB Monitor
JANUARY 30, 2024
Maryland has joined the ranks of states considering legislation that would codify elements of “true lender” theory in an effort to impose federally preempted state licensing requirements and rate caps on loans to Maryland residents. Continue Reading
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Payments Dive
AUGUST 17, 2023
At least one earned wage access advocate is pushing back on Maryland’s recent guidance that labels some on-demand wage offerings as loans.
CFPB Monitor
AUGUST 21, 2023
Earlier this month, the Maryland Office of Financial Regulation (“OFR”) issued guidance (the “Guidance”) to provide clarity on how the OFR views Earned Wage Access (“EWA”) products and describe the requirements entities offering EWA products must adhere to.
CFPB Monitor
AUGUST 8, 2023
Congratulations to Professor Jeff Sovern who was recently named the inaugural Michael Millemann Professor of Consumer Protection Law at the University of Maryland Francis King Carey School of Law. Professor Sovern joins Maryland Carey Law after 40 years on the faculty of St. Continue Reading
American Banker
NOVEMBER 8, 2023
An organization in Maryland is shooting for a 2024 opening. The National Credit Union Administration approved the Young Community Federal Credit Union to begin operations in Kentucky soon.
CFPB Monitor
MAY 6, 2021
A Maryland administrative action recently removed to the state’s federal district court illustrates how Maryland law continues to present challenges for the bank partner structure used by many lenders. The new Maryland matter demonstrates that participants in bank model programs continue to face state licensing threats.
PYMNTS
NOVEMBER 16, 2020
Group Seeks to Block Maryland Online Advertising Tax. Marylanders for Tax Fairness is preparing for a battle in January over the state’s attempt to make a digital advertising tax, the Baltimore Sun reported. Maryland legislators ratified the tax earlier in 2020, but Gov. Larry Hogan vetoed the levy. Larry Hogan vetoed the levy.
CFPB Monitor
SEPTEMBER 29, 2021
Maryland has enacted legislation that revises the rules of determining creditworthiness. On May 30, 2021, Maryland Governor Lawrence J. Hogan (R) signed HB1213 into law, which adds to Maryland Code Ann. Financial Institutions (FI) § 1-212.
Payments Dive
AUGUST 31, 2023
Students at the Loyola University Maryland store will scan a QR code in the food delivery app to enter the frictionless shop and pay for items.
PYMNTS
JANUARY 4, 2018
As more financial institutions (FIs) warm up to the idea, one bank in Maryland is taking significant steps to address cannabis companies’ FinServ challenges. Providing financial services to legal marijuana businesses in the U.S. has proven a challenging, complicated venture for the nation’s banks.
CFPB Monitor
DECEMBER 9, 2019
The CFPB has filed an amicus brief in the Maryland Court of Appeals urging the court to affirm the decision of the Court of Special Appeals reversing the trial court’s approval of a settlement agreement in a class action lawsuit. The circuit court approved the settlement over the Maryland AG’s objections in February 2018.
PYMNTS
APRIL 6, 2016
In Walmart’s defense, it was specifically selling the promotion of the University of Maryland’s mascot , not the school itself … where one could presumably learn the basics of U.S. We understand the pride Marylanders feel for the Terps and apologize for the mistake.”
CFPB Monitor
FEBRUARY 2, 2022
Court of Appeals for the Fourth Circuit recently ruled that a mortgage servicer violated the Maryland Consumer Debt Collection Act (MCDCA) by charging a $5 convenience fee to borrowers for monthly payments made by phone or online. In Alexander v. 14-202(8) Claim). 14-202(8) because such fees are prohibited by Sec. 14-202(11).
MyBankTracker
JANUARY 18, 2021
Homeowners insurance in Maryland protects your property from damage. Are you shopping for homeowners insurance in Maryland? If so, here are the average rates to expect based on the proper coverage needed for your Maryland home. Average Maryland Homeowners Insurance Rates. How Does Home Insurance in Maryland Work?
PYMNTS
AUGUST 15, 2018
To bring a beer tour and tasting experience to its customers, Guinness has opened a $90 million brewery in Maryland. The location is the company’s first new brewery in 60 years, CNBC reported.
PYMNTS
JUNE 12, 2017
Maryland and Virginia, as well as online. Mama Biscuit’s Gourmet Biscuits (MBGB) produces flavored gourmet biscuits that “bridge the gap between” sweet cupcakes and savory tasting treats. They are sold in major retailers such as Wegmans and Whole Foods Market in Washington, D.C.,
CFPB Monitor
MAY 23, 2019
Colorado and Maryland have each enacted legislation regulating student loan servicers. On May 13, Colorado Governor Jared Polis (D) signed into law SB 19-002 , and that same day, Maryland Governor Larry Hogan (R) signed HB 594.
CFPB Monitor
JULY 13, 2020
The Department of Justice recently announced that it had settled a lawsuit filed in 2019 that alleged a Maryland used car dealership discriminated against African Americans in violation of the Equal Credit Opportunity Act by offering different credit terms based on race.
CFPB Monitor
MARCH 17, 2020
A Maryland federal district court, in Jennings v. Dynamic Recovery Solutions LLC , ruled that the effect of a partial payment on revival of the statute of limitations was governed by the law of Delaware, the state designated in the choice of law provision in the plaintiff’s credit agreement, rather than the law of Maryland, the forum state.
ABA Community Banking
APRIL 26, 2020
With the SBA’s Paycheck Protection Program set to re-opening for applications tomorrow, a Maryland bank CEO this weekend recounted his bank’s experience getting up and running during the early days of the program. The post Maryland Bank CEO Reflects on First Round of PPP Applications appeared first on ABA Banking Journal.
CFPB Monitor
JULY 27, 2021
A Maryland federal district court has dismissed a putative class action lawsuit filed against nine companies that manage apartment buildings in the Washington, D.C.
CFPB Monitor
JANUARY 18, 2019
According to a report issued earlier this month , the Maryland Financial Consumer Protection Commission is considering the adoption of the “Model State Consumer and Employee Justice Enforcement Act” developed several years ago by the National Consumer Law Center.
American Banker
DECEMBER 13, 2023
The acquisition would deepen Orrstown's presence in its home state and Maryland. Codorus Valley Bancorp in recent years had faced pressure from an activist investor to consider selling.
Jeff For Banks
JULY 28, 2023
A career banker with multiple financial institutions, including the long-admired Mercantile from Maryland, Mike elevated up the credit and lending vertical to his current position. Mark Semanie, Maryland Market President, Wesbanco. Kevin Benson, President of Rosedale Federal S&L Association.
CFPB Monitor
AUGUST 21, 2023
Professor Jeff Sovern, who recently joined the University of Maryland Francis King Carey School of Law faculty, has recently blogged about a forthcoming Study by academicians at other institutions that will be published in the Berkeley Technology Law Journal.
PYMNTS
JANUARY 9, 2019
The Maryland Attorney General Brian Frosh announced Tuesday (Jan. In a press release , the Maryland AG said Neiman Marcus agreed to pay $1.5 The states’ investigations determined that around 370,000 payment cards were breached, including 8,323 associated with consumers in the state of Maryland.
American Banker
AUGUST 29, 2023
Maryland is the latest state to decree that employer-sponsored EWA products aren't loans, but the battle over how they will be regulated is just beginning, experts say.
CFPB Monitor
JANUARY 24, 2023
Professional Bureau of Collections of Maryland, Inc. , Court of Appeals for the Tenth Circuit recently joined the Eleventh Circuit (and a growing majority of courts) in rejecting the “ Hunstein theory” of liability under the Fair Debt Collection Practices Act (FDCPA). In Shields v.
American Banker
JULY 27, 2023
Like many of its peers, the bank is grappling with higher deposit costs and net interest margin pressure.
American Banker
AUGUST 4, 2016
said that its insurance unit bought The Advantage Group, which offers personal, business and life insurance to clients in Maryland, northern Virginia and Washington. Sandy Spring Bancorp in Olney, Md.,
American Banker
JUNE 18, 2020
Delmarva Bancshares, which was on the brink of failure during the financial crisis, will be sold to BV Financial for $54 million.
American Banker
FEBRUARY 2, 2021
The Maryland-based credit union has promoted Chief Operating Officer Tonia Niedzialkowski to president of the organization with an eye toward eventually naming her CEO.
American Banker
FEBRUARY 9, 2021
Richard Daugherty stepped down after more than three decades at the Maryland-based institution, including overseeing four mergers and asset growth of nearly 500%.
ABA Community Banking
FEBRUARY 10, 2021
Now, she's at the same bank, as chairman, president and CEO of Oakland, Maryland-based First United Bank and Trust. As an early-career CPA, Carissa Rodeheaver began her community banking career as a trust administrator nearly three decades ago.
PYMNTS
OCTOBER 8, 2020
26 were in Maryland (3,619), Illinois (3,414) where layoffs in retail and healthcare fueled the number of applications, New Jersey (2,504), Michigan (2,358) and Massachusetts (1,886), while the largest decreases were in Texas (7,075), Florida (6,655), Georgia (5,895), New York (5,112) and Oregon (2,317). That contrasts with 1.4
PYMNTS
AUGUST 16, 2020
including Geico, the Maryland-based auto insurer; BNSF, the largest railroad in the U.S.; Berkshire Hathaway remains invested in Bank of America, including a recent investment of more than $2 billion, giving it a nearly 12 percent stake worth over $27 billion. In addition, Berkshire also has nearly 100 operating units in the U.S.,
American Banker
MARCH 30, 2023
(..)
American Banker
FEBRUARY 23, 2021
The product — a special class of shares in JPMorgan's Empower money market fund — will initially be distributed by the Harbor Bank of Maryland, Liberty Bank & Trust, M&F Bank and Unity National Bank, according to a statement.
American Banker
NOVEMBER 22, 2016
is planning to enter Maryland with its agreement to buy New Windsor Bancorp in Taneytown, Md. in Gettysburg, Pa.,
PYMNTS
APRIL 20, 2020
The Maryland-based hotel giant has approximately 1.4 Like other hotel chains, the world’s largest hospitality company reported hotel revenues declined 60 percent in March and it’s expected to get worse. Marriott has closed about one quarter of its 7,300 hotels worldwide. Of that number, 1,000 are in the U.S.
PYMNTS
SEPTEMBER 20, 2018
According to Reuters , the men — Kevin Merrill of Maryland, 53, Jay Ledford of Texas and Nevada, 54, and Cameron Jezierski of Texas, 28 — falsely claimed to be investment professionals and used a fake portfolio to defraud hundreds of investors. Attorney for the District of Maryland, Robert Hur, said.
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content