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Legislative Corner
Legislative Corner
The banking associations’ annual Legislative Recap Seminar will be held Tuesday, July 26 at the Augusta Civic Center. This-half day program highlights all of the bills affecting banking that were passed by the recent legislative session. Participants will receive a comprehensive binder presenting the text and summary of the bills discussed. Registration information will be sent soon, or call your association office, MACB at (207) 791-8400 or MBA at (207) 622-6163, for more information.
Banking Law Books
The effective date for most of Maine’s laws passed by the First and Special Sessions of the 122nd Legislature will be mid-September (actual date is determined by the adjournment date), and there are many changes to the laws governing banking. The Maine Association of Community Banks will publish paperbound copies of banking law books containing all of the latest changes. Two sets of laws will be published:

2005 Maine Banking Code – This book contains the complete text of Title 9-B, Maine Revised Statutes and includes all of the banking laws under the jurisdiction of the Maine Bureau of Financial Institutions. This volume is unannotated and does not contain Bureau of Financial Institutions regulations or bulletins.

2005 Maine Consumer Credit Laws – This book includes the complete text of Title 9-A and all sections of Maine Revised Statutes that affect most Maine lenders including those under the jurisdiction of the Bureau of Financial Institutions. Additionally, all other laws that affect other credit grantors under the jurisdiction of the Office of Consumer Credit Regulation are included:

• Title 5: Fair Credit Extension Section of the Maine Human Rights Act;

• Title 9-A: Maine Consumer Credit Code (entire Title);                       

• Title 9-B: Residential Mortgage Escrow Accounts;                             

• Title 10: Plain Language Law, Credit Card Practices for Providers of Travel Services, Protection of Social Security Numbers and Fair Credit Reporting Act;                                 

• Title 17: Budget Planning Business; and

• Title 30-A: Pawnbrokers;

• Title 32: Negotiable Checks and Money Orders, Money Transmitters Act, Check Cashing and Foreign Currency Exchange Act, Nonprofit Debt Management Services and Fair Debt Collection Practices Act;

• Title 33: Interest of Residential Mortgage Escrow Accounts, Funded Settlement Act and Mortgage Holders Required to Record the Discharge Within 60 Days.

Call (207) 791-8400 to reserve your copies. Volume discounts will be available for six to 10 copies.    

Posted on Thursday, June 30, 2005 (Archive on Wednesday, September 28, 2005)
Posted by kdroney  Contributed by kdroney


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