MACA News


Posted 1 October 2018: During an interview with Lancaster Online, MACA President Donna Nicholson Stief provides unique insights into being a professional in the accounts receivable industry in the 21st Century.  READ FULL ARTICLE


Posted 1 October 2018:  The Maryland Financial Consumer Protection Act of 2018, passed by the Maryland General Assembly during the 2018 Legislative Session and effective 1 October 2018, includes the following changes:


  • The definition of “unfair or deceptive trade practice” is now “unfair, abusive, or deceptive trade practice; (UADTP)”
  • The purpose of the act is to support enforcement by and funding of the Office of the Attorney General and the Commissioner of Financial Regulation to protect state residents when conducting financial transactions and receiving certain services;
  • The state will also have a designated student loan ombudsman.


Changes in the law align state regulations with the Dodd-Frank statutes followed by the Bureau of Consumer Financial Protection. Agencies collecting debts in Maryland should review their policies and procedures, making sure that they conform to statutory requirements.


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