§ 5–808.1
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 5-808.1 (2026)
Title 5. Banking Institutions -- General Provisions
Subtitle 8. Prohibited Activities; Penalties
§ 5–808.1LinkCopy Citation
(a)
After notice and a hearing, the Commissioner may assess a civil penalty against a banking institution that the Commissioner determines has:
(1)
Violated a cease and desist order issued by the Commissioner under § 5–808 of this subtitle; or
(2)
Engaged in:
(i)
An unsafe or unsound banking practice; or
(ii)
A practice that is injurious to the public interest.
(b)
The civil penalty may not exceed:
(1)
$1,000 per violation; and
(2)
$1,000 per violation for each day that the violation continues.
(c)
(1)
A civil penalty shall be assessed by written notice of assessment served on the person to be assessed.
(2)
The notice of assessment shall state the:
(i)
Amount of the civil penalty;
(ii)
Legal authority for the assessment; and
(iii)
Matters of fact or law constituting the grounds for the assessment.
(3)
The notice of assessment shall constitute a final order for purposes of judicial review pursuant to § 10–221 of the State Government Article.
(d)
In determining the amount of the civil penalty to be assessed, the Commissioner shall consider:
(1)
The seriousness of the violation;
(2)
The good faith of the violator;
(3)
The violator’s history of previous violations;
(4)
The deleterious effect of the violation on the public and the banking industry;
(5)
The assets of the violator; and
(6)
Any other factors relevant to the determination of the civil penalty.
(e)
(1)
A civil penalty assessed under this section shall be due and payable within 30 days after the Commissioner issues the notice of assessment.
(2)
The Commissioner may reduce or set aside a civil penalty.
(f)
The Commissioner shall pay all civil penalties collected under this section into the General Fund of the State.