Maryland § 6-906.1

§ 6-906.1.

    (a)    After notice and a hearing, the Commissioner may assess a civil penalty against a credit union that the Commissioner determines has:

        (1)    Violated a cease and desist order issued by the Commissioner under § 6–906 of this subtitle; or

        (2)    Engaged in:

            (i)    An unsafe or unsound practice; or

            (ii)    A practice that is injurious to the public interest.

    (b)    The civil penalty may not exceed:

        (1)    $1,000 per violation; and

        (2)    $1,000 per violation for each day that the violation continues.

    (c)    (1)    A civil penalty shall be assessed by written notice of assessment served on the person to be assessed.

        (2)    The notice of assessment shall state the:

            (i)    Amount of the civil penalty;

            (ii)    Legal authority for the assessment; and

            (iii)    Matters of fact or law constituting the grounds for the assessment.

        (3)    The notice of assessment shall constitute a final order for purposes of judicial review pursuant to § 10–221 of the State Government Article.

    (d)    In determining the amount of the civil penalty to be assessed, the Commissioner shall consider:

        (1)    The seriousness of the violation;

        (2)    The good faith of the violator;

        (3)    The violator’s history of previous violations;

        (4)    The deleterious effect of the violation on the public and the credit union industry;

        (5)    The assets of the violator; and

        (6)    Any other factors relevant to the determination of the civil penalty.

    (e)    (1)    A civil penalty assessed under this section shall be due and payable within 30 days after the Commissioner issues the notice of assessment.

        (2)    The Commissioner may reduce or set aside a civil penalty.

    (f)    The Commissioner shall pay all civil penalties collected under this section into the General Fund of the State.