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Maryland Manual, 1991-92
Volume 185, Page 382   View pdf image (33K)
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382/Maryland Manual

Corporation also acts as court-appointed conser-
vator or receiver for thrifts found to be insolvent
and supervises the liquidation process of thrifts
placed into receivership (Code Financial Institu-
tions Article, sees. 10-101 through 10-121). Cur-
rently, six associations are in receivership.
The Corporation is administered by the Fund
Director with the Board of Directors in an advisory
role. Appointed by the Governor, the Fund Direc-
tor serves at the pleasure of the Secretary of Licens-
ing and Regulation. The Board of Directors consists
of eight members appointed by the Governor.

Alan T. Pell, Commissioner
George L. Rayburn, Assistant Commissioner
George W. Jones, Assistant Commissioner

501 St. Paul Place
Baltimore, MD 21202 333-6801
toll free: 1-800-492-7521

The office of Commissioner of Consumer Credit
was originally established as the Administrator of
Loan Laws in 1941 (Chapter 289, Acts of 1941),
superseding a similar office established under the
jurisdiction of the Bank Commissioner (Chapter
741, Acts of 1939). It adopted the name of Com-
missioner of Small Loans in 1970 (Chapter 402,
Acts of 1970) and its present name in 1974 (Chap-
ter 457, Acts of 1974).
The Commissioner of Consumer Credit licenses,
registers, and/or regulates consumer loan com-
panies, sales finance companies, retail credit card
financing companies, installment loan lenders, debt
collectors, credit grantors, and mortgage brokers,
lenders, and servicers. In addition, the Commis-
sioner administers the Maryland Credit Services
Businesses Act, the Consumer Credit Reporting
Agencies Law, the Maryland Equal Credit Oppor-
tunity Act, and the Denial of Credit Disclosure Act,
and has co-jurisdictional authority on unfair or
deceptive trade practices. The office conducts
regular examinations and/or investigations of these
companies to discover violations of the law. The
Office maintains a complaint section which handles
all telephone calls of inquiry and also investigates
complaints from both consumers and the business
community regarding irregularities or violations.
Upon the filing of a written letter of complaint,
the Commissioner has authority to conduct an
investigation and, after a formal hearing, can issue
cease and desist orders. The Commissioner also may
suspend or revoke a license upon finding an illegal
activity (Code Financial Institutions Article, sees.
11-101 through 11-524; Commercial Law Article,
sees. 12-514,12-631,12-916,12-1016,14-1218,
The Commissioner is appointed by the Secretary
of Licensing and Regulation with the approval of

the Governor. Authorization for the Commissioner
of Consumer Credit continues until July 1, 1992
(Code financial Institutions Article, sees. 11-103,

Alan T. Fell, Chairperson

Appointed by Governor with Senate advice & consent:
Dorothy F. Bailey; Stephen D. Hannan; Paul E.
Hartman; Leon I. Snyder. Terms expire 1994.

501 St. Paul Place
Baltimore, MD 21202 333-6801
toll free: 1-800-492-7521

The Collection Agency Licensing Board, which
is part of the office of the Commissioner of Con-
sumer Credit, was created in 1977 (Chapter 319,
Acts of 1977). The Board regulates debt collection
agencies. It issues, suspends, and revokes licenses;
reprimands licensees; and receives and investigates
written complaints from consumers. It holds hear-
ings on allegations of violations of the Consumer
Debt Collection Act by a debt collection agency and
mediates disputes between consumers and debt
collection agencies. The Board may subpoena wit-
nesses for attendance and testimony In the media-
tion process, it may recommend monetary
compensation to the consumer.
The Board consists of five members appointed
to four-year terms by the Governor with Senate
advice and consent. One member is the Commis-
sioner of Consumer Credit who serves as chairper-
son. Two members represent debt collection
agencies. Two members represent consumers and
must be either officers or board members of a
recognized consumer group or employees of a
county or other local consumer protection agency
of the State. The Board serves without compensa-
tion. Authorization for the Board continues until
Julyl, 1992 (Code 1957, Art. 56, sees. 323-329C).

Alan T. Fell, Director
William L. Foster, Deputy Director

501 St. Paul Place
Baltimore, MD 21202 333-6800
toll free: 1-800-492-7521

In 1987, the Financial Audit Services Team
(FAST) was created by executive order to promote
efficient use of manpower and provide flexibility in
addressing special concerns of the agencies under
the Division of Financial Regulation. The Team
consolidates a majority of the merit system ex-
aminers and support staff from the Division of
Savings and Loan Associations, the Office of the
Bank Commissioner, and the Office of the Commis-
sioner of Consumer Credit. Its function is to con-
duct examinations, investigations, and audits for all


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Maryland Manual, 1991-92
Volume 185, Page 382   View pdf image (33K)
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