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Maine Credit-Related Laws Changed by the 122nd Legislature Second Regular Session

LD Title PL Comments
An Act to Require that Automobile Extended Service Warranties Purchased by Maine Citizens Provide for Arbitration in the State 476 State’s first effort to address mandatory arbitration clauses.
1783 An Act to Amend the Maine Consumer Credit Code as it Relates to Finance Charges for Loans on Open-end Credit 484 Exempts home equity accounts accessed by credit cards, from certain credit card rules.
1804 An Act to Amend the Debt Collection Law 475 Out-of-state collection attorneys must now obtain debt collector licenses.
1834 An Act to Accommodate Victims of Identity Theft 494 Information in credit reports as a result of ID theft is “inaccurate” information.
1835 Resolve, To Ensure That Consumers Are Informed of a Debit Card Hold at the Point of Sale Resolve, Chapter 176
Merchants “may” disclose debit card hold policy.
1878 An Act to Protect Small Payroll Processors 500 Establishes recovery fund as alternative to surety bond or letter of credit.
1885 An Act to Protect Drivers’ Privacy by Clarifying Ownership of Data Recorded by Motor Vehicle Data Recorders 544 Auto “black box” data belongs to car owner.
2017 An Act to Amend the Notice of Risk to Personal Data Act 583 Applies to companies, universities and the government.
2076 An Act Relating to Payday Loans 604 Extends jurisdiction to internet payday lenders.