§ 14-1701. Definitions  


Latest version.



  •    (a) In general. -- In this subtitle the following terms have the meanings indicated.

    (b) Adverse action. --

       (1) "Adverse action" means a denial or revocation of credit, a change in the terms of an existing credit arrangement, or a refusal to grant credit in substantially the amount or on substantially the terms requested.

       (2) "Adverse action" does not include a refusal to extend additional credit under an existing credit arrangement where the applicant is delinquent or otherwise in default, or where such additional credit would exceed a previously established credit limit.

    (c) File. -- "File" means file as defined in § 14-1201(g) of this title.

    (d) Lender; credit grantor. -- "Lender" or "credit grantor" means:

       (1) Any lender or credit grantor regulated under Title 12 of this article; or

       (2) A credit union making a loan under § 6-601(e) of the Financial Institutions Article.


HISTORY: 1985, ch. 669; 1986, ch. 5, § 1; 2001, ch. 147, § 9; ch. 148, § 9.