Commercial Law - Merchant Cash Advance - Prohibition
Sponsor: Seth A. Howard (District 30B)Committee: Economic MattersSubject: Corporations and AssociationsStatus: Hearing 3/04 at 1:00 p.m. (as of Nov 6, 2020)
What this bill does
Official synopsis
Prohibiting a buyer from arranging, facilitating, or consummating a merchant cash advance transaction with a seller in the State; providing that a violation of the Act is an unfair, abusive, or deceptive trade practice subject to certain enforcement and penalties; and applying the Act prospectively.
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Testimony (19)
MGA witness listFAV 10FavorableUNF 8UnfavorableINFO 1Information only
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Towles, Claudia | Amuse Toys | Position only |
| FAV | Enten, Bob | MBA | Oral + Written (PDF) |
| FAV | Enten, Bob | MBA | Position only |
| FAV | Murphy, Kathleen | MBA | Oral + Written (PDF) |
| FAV | Murphy, Kathleen | MBA | Position only |
| FAV | Murphy, Kathleen | MD Bankers Assoc | Position only |
| FAV | Enten, Bob | MD BankersAssoc | Position only |
| FAV | Mckinney, Robinlobbyist | MD Cash Campaign | Position only |
| FAV | Delegate Howard, Delegate Howardlegislator | Individual | Position only |
| FAV | Locklair, Caileylobbyist | Individual | Oral + Written (PDF) |
| UNF | boston, frank | CFC SBFA | Oral + Written (PDF) |
| UNF | Grimm, Chris | Innovative Lending Platform Association | Oral + Written (PDF) |
| UNF | stewart, Deborah | Shadenjuan services | Written (PDF) |
| UNF | fisher, katherinelobbyist | hudson cook llp | Oral + Written (PDF) |
| UNF | McDonough, caitlinlobbyist | rapid finance | Position only |
| UNF | siegfried, patrick | rapid finance | Position only |
| UNF | yost, fielding | saturn corp | Written (PDF) |
| UNF | carlson, jesse | small Business Finance assoc | Position only |
| INFO | Sakamoto-Wengel, Steve | Consumer Protection Division | Written (PDF) |
Organizations on record
Amuse ToysFAV 1
CFC SBFAUNF 1
hudson cook llpUNF 1
MBAFAV 4
MD Bankers AssocFAV 1
MD BankersAssocFAV 1
MD Cash CampaignFAV 1
rapid financeUNF 2
saturn corpUNF 1
Shadenjuan servicesUNF 1
Registered lobbyists who testified
FAVLocklair, CaileyRegistered for: HPSO Investments LLC, T/A Riverboat on the Potomac; Maryland Retailers Alliance; Maryland Retailers Association
UNFMcDonough, caitlinrapid financeRegistered for: AbbVie Inc.; Aligned Data Centers; American Academy of Anesthesiology Assistants, Inc.; Associated Builders & Contractors; Association of Independent Midwives of Maryland (AIMM); Baltimore Gas and Electric Company…