sales finance companies, retail credit card financing
companies, installment loan lenders, debt collec-
tors, credit grantors, and mortgage brokers, lend-
ers, and servicers. In addition, the Commissioner
administers the Maryland Credit Services Busi-
nesses Act, the Consumer Credit Reporting Agen-
cies Law, the Maryland Equal Credit Opportunity
Act, and the Denial of Credit Disclosure Act. The
Commissioner has co-jurisdictional authority on
unfair or deceptive trade practices and generally
enforces the consumer protection laws governing
credit. To discover violations of the law, the office
regularly examines and investigates these compa-
nies. The office also maintains a complaint section
which handles all telephone calls of inquiry and
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, and award restitution. 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, secs. 12-514, 12-631,
12-916, 12-1016, 14-1218, 14-1706, 14-1911).
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 1,2002 (Code
Financial Institutions Article, secs. 11-103, 11-106).

COLLECTION AGENCY LICENSING BOARD
Alan T. Fell, Chairperson

501 St. Paul Place
Baltimore, MD 21202 (410) 333-6801

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 may hold a
hearing on allegations of violations of the Con-
sumer Debt Collection Act by a debt collection
agency. The Board also mediates disputes between
consumers and debt collection agencies and may
subpoena witnesses for attendance and testimony.
In the mediation process, it may recommend mone-
tary 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
July 1, 2002 (Code 1957, Art. 56, secs. 323-329C).

FINANCIAL AUDIT SERVICES TEAM (FAST)
Louis A. Reinhardt, Jr., Director
William L. Foster, Deputy Director

501 St. Paul Place
Baltimore, MD 21202 (410) 333-6823

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 major-
ity of the merit system examiners and support staff
from the Office of the Bank Commissioner and the
Office of the Commissioner of Consumer Credit. Its
function is to conduct examinations, investigations,
and audits for both agencies. The Team also responds
to telephone and written inquiries and complaints
received by the Division of Financial Regulation
through a centralized complaint unit.
The Director is appointed by the Secretary of Licens-
ing and Regulation with the Governor's consent.

STATE OF MARYLAND DEPOSIT
INSURANCE FUND CORPORATION

BOARD OF DIRECTORS

Goodloe E. Byron, Jr., Chairperson, 1993
Patrick M. McCracken, Fund Director
Edward H. Kappel, Deputy Director

501 St. Paul Place
Baltimore, MD 21202 (410) 333-8762

The State of Maryland Deposit Insurance Fund
Corporation was instituted in May 1985 (Chapter 6,
Acts of First Special Session of 1985). The Corpora-
tion was formed when those savings and loan associa-
tions previously insured by the privately-run Maryland
Savings-Share Insurance Corporation were given a
three-tier deadline, based on assets, in which to either
secure federal insurance coverage or merge with an-
other federally-insured financial institution.
Created as a temporary agency, the Corporation
acts as court-appointed receiver for thrifts found to
be insolvent and supervises the liquidation process
of thrifts placed into receivership (Code Financial
Institutions Article, secs. 10-101 through 10-121).
Currently, three 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.