Title 5. Banking Institutions -- General Provisions — Subtitle 8. Prohibited Activities; Penalties

If the Commissioner believes that a director or officer of a banking institution has engaged in an unsafe or unsound banking practice, the Commissioner shall send a warning to the director or officer.

If the Commissioner believes that a banking institution or any of its directors, officers, trustees, managers, agents, or employees has violated any provision of this article that relates to the institution, the Commissioner immediately shall report the violation to the Secretary of Labor, who shall ask the Attorney General to take the appropriate steps to institute a prosecution for the violation.

Unless another penalty specifically is provided elsewhere in this article, any banking institution and any director, officer, trustee, manager, agent, or employee of a banking institution who violates any provision of this article that relates to the institution 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.

An officer, director, or employee of a bank, trust company, or savings bank may not willfully and knowingly make or cause to be made a false statement or false entry in its records or, with the intent to deceive a person authorized to examine the affairs of the bank, trust company, or savings bank, sign or exhibit false records.

Any officer, director, or employee who violates any provision of this section is guilty of a felony and on conviction is subject to a fine not exceeding $5,000 or imprisonment not exceeding 10 years or both.

An officer or employee of a banking institution may not accept a deposit knowing that the institution is insolvent.

An officer or employee who violates any provision of this section is guilty of a misdemeanor and on conviction is subject to imprisonment in the State Penitentiary for a period not exceeding 3 years.

A person may not willfully make, circulate, or send to another any untrue statement that is derogatory to the financial condition or affects the solvency or financial standing of any bank, trust company, or savings bank doing business in this State or counsel, aid, procure, or induce another to make, circulate, or send to another such a statement.

Any person who violates any provision of this section is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $1,000 or imprisonment not exceeding 3 years.

Except for a banking institution, a national banking association, an other–state bank, or a savings and loan association that is authorized to do business in this State, a person may not use any name, title, or other words that represent that the person is authorized to do the business of banking in this State.

In addition to any other remedies a bank may have under any other provision of law, a bank that is affected by a violation of subsection (b) of this section may bring an action against the person that committed the violation to recover:

Any person who violates subsection (a) 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.

A banking institution may not:

The Commissioner may further define specific acts or practices that are anticompetitive, unfair, deceptive, or injurious to the public interest.

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.

The Commissioner may order any banking institution to cease and desist from:

To protect depositors, stockholders, or the public, the Commissioner may include in a cease and desist order a restriction on the withdrawal of money from any banking institution.

The Commissioner may include in a cease and desist order a requirement that the officers or directors of a banking institution act affirmatively to correct any violation or practice.

If the Commissioner determines that the violation or practice under subsection (a) of this section requires immediate action to protect depositors, stockholders, or the public, the Commissioner:

After notice and a hearing, the Commissioner may assess a civil penalty against a banking institution that the Commissioner determines has:

The civil penalty may not exceed:

In determining the amount of the civil penalty to be assessed, the Commissioner shall consider:

The Commissioner shall pay all civil penalties collected under this section into the General Fund of the State.

In this section, “extraordinary circumstances” means a situation presenting specific concerns about the prompt withdrawal of money from, or the safety and soundness of, a banking institution.

In extraordinary circumstances and with the consent of the banking institution, the Commissioner may close to the public a hearing concerning the assessment of a civil penalty, an order to cease and desist, or any other formal enforcement action by the Commissioner.

An unsafe or unsound banking practice;

A practice that is injurious to the public interest; or

A violation of a law, rule, or regulation that relates to the Commissioner’s supervision of the institution.