Bill > HB152

This bill, known as the Elder Fraud Prevention Act of 2026, clarifies that consumer wire transfers, which are electronic transfers of money, when they are part of bank-to-bank transfers made through a wire service, must follow the rules set by the federal Electronic Funds Transfer Act of 1978. This means that financial institutions operating in Maryland must adhere to these federal regulations for such transactions, aiming to protect consumers, particularly seniors, from potential fraud in electronic fund transfers. The bill also includes a provision stating that if it cannot be applied to federally chartered or out-of-state chartered financial institutions, it will become void.

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https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0152?ys=2026RS