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Big Tech Compliance Tracker: Tencent Says Big Tech Needs Greater Oversight; Group Seeks To Block Maryland Online Ad Tax

PYMNTS

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.

Maryland 151
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Another Maryland threat to bank partner model lending

CFPB Monitor

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.

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Maryland Revises Evaluation Rules and Offers Alternative Methods of Determining Creditworthiness

CFPB Monitor

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. See 815 Ill. 120/4, and Nev.

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DOJ settles ECOA claims against used Maryland car dealership

CFPB Monitor

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.

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Update on state small business commercial financing disclosure laws

CFPB Monitor

During the week of February 7, 2022, bills were introduced in Utah and Maryland that would require disclosures in commercial transactions. The Maryland bill represents the state’s most recent attempt to pass legislation to restrict merchant cash advance programs.

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Law Enforcement Cracks Down On Corporate Payments Fraud

PYMNTS

” As a regulatory initiative aimed at combatting financial crime, KYC requirements are growing ever-more complex, leading corporates and their banks to demand new technologies and services that can address their compliance challenges. .” Postal Service , according to an indictment by a federal grand jury in Maryland.

Fraud 131
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Eagle Bancorp resolves corporate governance dispute with investors

American Banker

The Maryland company agreed to improve its risk and compliance controls, estimating that it will cost $2 million to make changes.