Section 14-1702 - Notice of action upon application for credit. - Maryland Statutes

§ 14-1702. Notice of action upon application for credit.
 

(a)  In general.- Notwithstanding any other provision of this article, within 30 days after receipt of a completed application for credit, a lender or credit grantor shall notify the applicant of its action on the application. 

(b)  Statement required upon adverse action or denial of application.- Notwithstanding any other provision of this article, if the lender or credit grantor has acted adversely against or denied an application for credit by a consumer, that lender must furnish the consumer with a written statement. 
 

[1985, ch. 669.]