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2022 Maryland Statutes
Commercial Law
Title 12 - Credit Regulations
Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions
Section 12-413 - Civil Penalties
Universal Citation:
MD Commercial Law Code § 12-413 (2022)
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Except for a bona fide error of computation, if a lender violates any provision of this subtitle he may collect only the principal amount of the loan and may not collect any interest, costs, or other charges with respect to the loan. In addition, a lender who knowingly violates any provision of this subtitle also shall forfeit to the borrower three times the amount of interest and charges collected in excess of that authorized by law.
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