Commercial Financing - Small Business Truth in Lending Act
Hearing (House)
Summary
The bill adds a new subtitle to Maryland’s financial‑institutions code that defines commercial financing types and forces lenders to give borrowers clear, standardized information about loan costs, APR, repayment terms, fees, and collateral. It targets non‑bank lenders providing closed‑end, open‑end, sales‑based, or factoring financing to businesses, while exempting banks, credit unions, very small lenders, and certain large or secured deals. Violations would trigger civil penalties and enforcement by the state commissioner.
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Ask about HB 1007
3 free questions a day, no accountHearings
- Economic Matters — Bill HearingEconomic Matters · Mar 3, 2026
History
- Hearing 3/03 at 1:00 p.m.
- First Reading Economic Matters
Sponsors
- Fraser-Hidalgo · sponsor
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