Maryland Passes First US Tax On Digital Ads

PYMNTS

Maryland lawmakers Friday threw the tax gauntlet down in front of Big Tech. Taxes Big Tech Maryland News politics taxes What's Hot

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

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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.

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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.

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. Preemption Regulatory and Enforcement Maryland preemption

Feds Bust Maryland Unemployment Fraud Ring Amid Scrutiny Of Illicit Payments

PYMNTS

The ring reportedly pulled in millions of dollars in fraudulent claims from California and other states, with over 200 individual unemployment applications filed with EDD from one Hyattsville, Maryland address between March and October 2020, 97 of which were actually approved and paid out.

Maryland banks plan to merge

American Banker

M&A Maryland Growth strategies Community banksDelmarva Bancshares, which was on the brink of failure during the financial crisis, will be sold to BV Financial for $54 million.

Maryland Launches eProcurement Portal With Nitor, Ivalua

PYMNTS

The state of Maryland has launched a new eProcurement system for the Maryland Department of General Services following a collaboration with source-to-pay and eProcurement FinTechs. In a press release Tuesday (July 30), source-to-pay solution provider Nitor and spend management firm Ivalua said their work with the Maryland Department of General Services has led to the successful launch of the eMaryland Marketplace Advantage (eMMA) system.

Shore Bancshares to enter new Maryland market with Severn acquisition

American Banker

Community banking M&A Maryland Growth strategiesThe company would gain its first branches around Annapolis after it buys Severn in a deal valued at $146 million.

Maryland bank's name change reflects M&A aspirations

American Banker

Community banking M&A Maryland Branding Growth strategiesDelmar Bancorp will lose its regionally associated brand when it becomes Partners Bank.

Walmart Officially Sorry It Can’t Tell Massachusetts From Maryland

PYMNTS

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.” Retail Apparel Retail Maryland Massachusetts Retail Fail retail what's hot Russell Athletic social media twitter University of Maryland walmart What's Hot

New Guinness Brewery On Tap In Maryland

PYMNTS

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. The brewery, which is located just outside of Baltimore, may bring in 300,000 visitors a year to its facilities, which are said to include a brew house, restaurant, tap room and gift shop. The property itself has been owned by Guinness parent Diageo since 2001).

After poaching M&T exec, Maryland bank plots next moves

American Banker

Strategic buyers CRE Recruiting MarylandHoward Bancorp is planning a big push in CRE lending, first in its hometown of Baltimore and eventually in Washington.

Maryland Community Bank Wades Into Cannabis Market

PYMNTS

As more financial institutions (FIs) warm up to the idea, one bank in Maryland is taking significant steps to address cannabis companies’ FinServ challenges. Jake Van Wingerden, head of a Maryland-based marijuana trade association and of licensed grower SunMed Growers, told The Washington Post that Severn Savings Bank was eager to work with industry players. Providing financial services to legal marijuana businesses in the U.S.

Big Tech Compliance Tracker: Maryland Proposal Would Prohibit Big Tech From Passing Ad Tax To SMBs; Antitrust Activist Becomes Biden Adviser

PYMNTS

Maryland Proposal Would Prohibit Big Tech From Passing Digital Ad Taxes To Small To Medium-Sized Businesses (SMBs). Proposed legislation that would make exemptions to Maryland’s new digital advertising levy clearer has progressed in the state’s senate, Maryland Matters reported.

CEO of Andrews Federal Credit Union in Maryland to depart

American Banker

Credit unions

Farmers and Merchants in Maryland to buy neighboring bank

American Banker

Community banking M&A Maryland Growth strategiesThe company will pay $25 million in cash for Carroll Bancorp in a deal between Baltimore-area banks.

Maryland Bank CEO Reflects on First Round of PPP Applications  

ABA Community Banking

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.

Queenstown Bank Offers Kasasa Brand in Maryland and Delaware

BankDeals

Queenstown Bank currently offers its Kasasa Cash, Kasasa Cash Back, and Kasasa Saver to residents of Maryland and Delaware through online application

CFPB files amicus brief in Maryland Court of Appeals seeking rejection of class action settlement

CFPB Monitor

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.

Maryland Homeowners Insurance: Average Rates for Coverage

MyBankTracker

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.

Maryland federal court dismisses putative class action alleged age-related discrimination by landlords based on targeted Facebook advertisements

CFPB Monitor

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.

The Maryland Financial Consumer Protection Act of 2018 significantly increases state regulation

CFPB Monitor

Noting, among other things, “retrenchment” on the federal level, the Maryland Financial Consumer Protection Act of 2018 ( HB 1634 ) was signed into law on May 15, 2018. making recommendations to the General Assembly regarding methods to resolve borrower issues/concerns and for any necessary changes to state law to ensure a fair, transparent, and equitable industry, including whether licensing or registration of student loan servicers should be required in Maryland.

First United in Maryland buys out activist investor

American Banker

Litigation Community banking

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.

Colorado Enacts Student Loan Servicer Licensing Law and Maryland Expands Regulation of Servicers

CFPB Monitor

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. The law’s apparent effective date is August 2, 2019, In Maryland, the new legislation is more limited in scope. Finally, any violation of the new law is an unfair, abusive, or deceptive trade practice under the Maryland Consumer Protection Act.

Mama’s Biscuits Opening New Manufacturing Facility In Maryland

PYMNTS

Maryland and Virginia, as well as online. Mama’s Biscuits , America’s first gourmet biscuit company, founded by Lesley Riley, is opening a new manufacturing facility in Frederick, Md., according to a press release. 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.,

FedChoice CEO to retire at year-end

American Banker

Credit unions Maryland Succession planning

Activist investor continues fight with Maryland bank

American Banker

Driver Management will try for a second straight year to gain a board seat at First United. Corporate governance Lawsuits

Maryland Commission should reject adoption of NCLC’s Model Arbitration Act

CFPB Monitor

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. Fortunately, based on strong opposition by the Maryland Bankers Association and other industry groups, the Commission stopped short of recommending adoption of the model act.

Point Breeze begins leadership transition by splitting executive roles

American Banker

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. C-suite Career moves Credit unions Maryland Succession planning

CEO of Chessie Federal Credit Union retires

American Banker

Richard Daugherty stepped down after more than three decades at the Maryland-based institution, including overseeing four mergers and asset growth of nearly 500%. C-suite Career moves Credit unions Maryland Succession planning

Sandy Spring in Maryland Buys Insurance Agency

American Banker

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., breaking_news community-banking md dealmaking-strategy

Student loan servicers’ obligations under Maryland’s “Ombudsman Act” now in effect

CFPB Monitor

On September 28, 2018, the Maryland Commissioner of Financial Regulation issued a notice advising companies servicing student loans of Maryland borrowers to provide their contact information to the state’s new Student Loan Ombudsman by November 15, 2015. Maryland’s “Financial Consumer Protection Act of 2018” went into effect on October 1, 2015.

ACNB to Enter Maryland by Buying New Windsor Bancorp

American Banker

is planning to enter Maryland with its agreement to buy New Windsor Bancorp in Taneytown, Md. ACNB Corp. in Gettysburg, Pa., breaking_news community-banking md pa dealmaking-strategy

Maryland federal district court rules choice of law provision applies to effect of partial payment on statute of limitations revival in FDCPA lawsuit

CFPB Monitor

A Maryland federal district court, in Jennings v. The initial question considered by the court was whether the debt revival issue was governed by Delaware or Maryland law.