Commercial Financing Transactions - Requirements
Sponsor: Benjamin F. Kramer (District 19)Committee: FinanceSubject: Financial InstitutionsStatus: Hearing 3/30 at 1:00 p.m. (as of Nov 15, 2022)
What this bill does
Official synopsis
Requiring that certain revenue, fees, and examination and investigation fees and assessments relating to commercial financing transactions be credited to the Nondepository Special Fund; regulating commercial financing transactions, including by establishing requirements related to disclosures, calculations of annual percentage rates, terms of repayments, and other related items, and the extension of special offers; etc.
AI analysis is off. Set ANTHROPIC_API_KEY to enable summaries, pros and cons, and questions.
Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.
Testimony (41)
MGA witness listFAV 14FavorableFWA 7Favorable with amendmentsUNF 19UnfavorableINFO 1Information only
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Robinson, John | JRobinson Live, Inc (PLAYlive Nation located in Annapolis Mall) | Oral |
| FAV | Caditz-Peck, Louis | LendingClub | Oral + Written (PDF) |
| FAV | Price, Sarahlobbyist | Maryland Retailers Association | Written (PDF) |
| FAV | locklair, caileylobbyist | Maryland Retailers Association | Oral |
| FAV | locklair, caileylobbyist | Maryland Retailers Association | Oral |
| FAV | Enten, Robert | Md Thoroughbred Horsemen’s Assoc | Oral |
| FAV | Enten, Robert | Md Thoroughbred Horsemen’s Assoc | Oral |
| FAV | Sarkash, Awesta | Small Business Majority | Oral |
| FAV | Sarkash, Awesta | Small Business Majority | Oral |
| FAV | Grimm, Chris | Individual | Oral + Written (PDF) |
| FAV | Senator Kramer, Senator Kramerlegislator | Individual | Oral |
| FAV | Senator Kramer, Senator Kramerlegislator | Individual | Oral |
| FAV | Towles, Claudia | Individual | Oral |
| FAV | Towles, Claudia | Individual | Oral |
| UNF | Fisher, Katherinelobbyist | Commercial Finance Coalition | Oral + Written (PDF) |
| UNF | Sakamoto-Wengel, Steven M. | Consumer Protection Division | Written (PDF) |
| UNF | Behlke, Max | Electronic Transactions Association | Written (PDF) |
| UNF | Behlke, Max | Electronic Transactions Association | Oral + Written (PDF) |
| UNF | McDonough, Caitlinlobbyist | HJM | Oral |
| UNF | McDonough, Caitlinlobbyist | HJM | Oral + Written (PDF) |
| UNF | Pitcher, Bill | Husch Blackwell Strategies | Oral |
| UNF | Gibbons, Deveon | RBFC | Oral |
| UNF | Siegfried, Patrick | Rapid Financial Services, LLC | Oral + Written (PDF) |
| UNF | Siegfried, Patrick | Rapid Financial Services, LLC | Oral + Written (PDF) |
| UNF | Pappas, Natalie | Rapid Financial Services, LLC ("Rapid Finance") | Oral |
| UNF | Denis, Stephen | Small Business Finance Association | Oral |
| UNF | Schulze, Dana | USAF Veteran | Position only |
| UNF | Boston, Frank | Individual | Oral |
| UNF | Boston, Frank | Individual | Oral |
| UNF | Diefenbach, Linda | Individual | Position only |
| UNF | Elbourn, James | Individual | Position only |
| UNF | Pedersen, Stacy | Individual | Position only |
| UNF | Williams, Peggy | Individual | Position only |
| FWA | Maltby, Leigh | Americans for Patient Access | Oral + Written (PDF) |
| FWA | DiPietro, Chris | CDi Consulting Services, L.L.C. | Oral |
| FWA | DiPietro, Chris | CDi Consulting Services, L.L.C. | Oral |
| FWA | Riehl, Scott | Equipment Leasing and Finance Association | Oral + Written (PDF) |
| FWA | Bellamy, Lorenzolobbyist | Individual | Oral |
| FWA | Grimm, Chris | Individual | Oral + Written (PDF) |
| FWA | Kramer, Senator | Individual | Written (PDF) |
| INFO | Fulginiti, Andrew | Maryland Department of Labor | Written (PDF) |
Organizations on record
Registered lobbyists who testified
FAVPrice, SarahMaryland Retailers AssociationRegistered for: Maryland Retailers Alliance; Maryland Retailers Association
FAVlocklair, caileyMaryland Retailers AssociationRegistered for: HPSO Investments LLC, T/A Riverboat on the Potomac; Maryland Retailers Alliance; Maryland Retailers Association
FAVlocklair, caileyMaryland Retailers AssociationRegistered for: HPSO Investments LLC, T/A Riverboat on the Potomac; Maryland Retailers Alliance; Maryland Retailers Association
UNFMcDonough, CaitlinHJMRegistered 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…
UNFMcDonough, CaitlinHJMRegistered 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…
FWABellamy, LorenzoRegistered for: ACLU of Maryland; Alliance for Responsible Consumer Legal Funding; American Forest & Paper Association; Americans for Patient Access; Avaya, Inc.; Bellamy Genn Group, LLC…