(a) In this subtitle the following terms have the meanings indicated.
(b)(1) “Adverse action” means a denial or revocation of credit, a change in the terms of an existing credit arrangement, or a refusal to grant credit in substantially the amount or on substantially the terms requested.
(2) “Adverse action” does not include a refusal to extend additional credit under an existing credit arrangement where the applicant is delinquent or otherwise in default, or where such additional credit would exceed a previously established credit limit.
(c) “File” means file as defined in § 14-1201(h) of this title.
(d) “Lender” or “credit grantor” means:
(1) Any lender or credit grantor regulated under Title 12 of this article; or
(2) A credit union making a loan under § 6-601(e) of the Financial Institutions Article.
Credits
Added by Acts 1985, c. 669, § 1, eff. July 1, 1985. Amended by Acts 1986, c. 5, § 1; Acts 2001, c. 147, § 9, eff. Oct. 1, 2001; Acts 2001, c. 148, § 9, eff. Oct. 1, 2001; Acts 2018, c. 12, § 6.
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
