Section 5-807 - Anticompetitive, unfair, or deceptive practices. - Maryland Statutes

§ 5-807. Anticompetitive, unfair, or deceptive practices.
 

(a)  False, misleading, or deceptive advertisements or representations; imposition of certain conditions.- A banking institution may not: 

(1) Issue an advertisement or make a representation that is false, misleading, or deceptive; 

(2) Impose as a condition for a loan any restriction on obtaining credit, property, or service from a competitor unless the restriction is reasonably necessary to secure the loan; 

(3) Impose as a condition for a service any restriction on obtaining credit, property, or service from a competitor; or 

(4) Engage in an act or practice that is anticompetitive, unfair, deceptive, or injurious to public interest. 

(b)  Rules, regulations, and standards.- The Commissioner may further define specific acts or practices that are anticompetitive, unfair, deceptive, or injurious to the public interest. 

(c)  Penalties.- A banking institution and any director, officer, trustee, manager, agent, or employee of a banking institution who violates any provision of this section is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $3,000 or imprisonment not exceeding 5 years or both. 
 

[1981, ch. 754; 1996, ch. 326, § 2.]