Bill > H1057

This bill establishes uniform confidentiality and enforcement provisions relative to certain licensees under the jurisdiction of the Division of Banks. Key provisions include: - Expanding confidentiality protections for records of investigations and examinations of licensees by the Commissioner of Banks. - Allowing the Commissioner to summon licensees, registrants, and other witnesses to examine them and require the production of books and papers. - Authorizing the Commissioner to impose penalties of up to $5,000 per violation, up to $100,000 total, for violations by licensees, registrants, and other persons. - Empowering the Commissioner to prohibit individuals from participating in the affairs of licensees for a period of time for violations. - Providing the Commissioner with additional tools to suspend, revoke, or take enforcement action against licenses for violations of applicable laws and regulations. The bill aims to establish more consistent confidentiality and enforcement standards across various licensees supervised by the Division of Banks, such as debt collectors, third party loan servicers, check cashers, and premium finance agencies.

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https://malegislature.gov/Bills/191/H1057