Unannotated Code of Maryland (Last Updated: May 16, 2014) |
COMMERCIAL LAW |
TITLE 14. MISCELLANEOUS CONSUMER PROTECTION PROVISIONS |
SUBTITLE 17. DENIAL OF CREDIT -- DISCLOSURE |
§ 14-1701. Definitions
Latest version.
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(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.