predatory

Maryland Targets “Surveillance Pricing” Is It a Warning Shot for AI-Driven Pricing Across Industries, Including Consumer Financial Services

By Alan S. Kaplinsky, Adam Maarec & Joseph J. Schuster on May 5, 2026

On April 28, 2026, Governor Wes Moore of Maryland has signed into law the nation’s most aggressive state law aimed at so-called “surveillance pricing” and algorithmic price-setting. House Bill 895, titled the Protection From Predatory Pricing Act, will become effective on October 1, 2026. It restricts the use of personalized pricing, consumer data-driven pricing, and certain AI-enabled pricing practices, particularly in the food retail (operating establishments of at least 15,000 square feet) and delivery sectors.… Continue Reading

Maine amends Consumer Credit Code to target loans made using bank partnership model

By Ballard CFS Group on August 5, 2021

Posted in Fintech, Regulatory and Enforcement, State Regulation, Usury

Maine has amended its Consumer Credit Code to target loans made using a bank partnership model. The amendments include an anti-evasion provision under which a purported agent or service provider is deemed a “lender” subject to Title 9-A, Article 2 of Maine Revised Statutes. Article 2 contains a licensing requirement and rate and fee limits for consumer loans.… Continue Reading

CFPB, AG’s, secure $92M in debt relief for servicemembers victimized by predatory lending

By Keith R. Fisher on August 28, 2014

Posted in CFPB Enforcement, CFPB General, Military Issues, Regulatory and Enforcement

NOTE: We intended to post this blog entry on the Monitor on July 30 but it was inadvertently omitted.

The CFPB, after an investigation in cooperation with 13 state attorneys general, has entered into a consent order with Colfax Capital Corporation, a California consumer lending company (Colfax), and its wholly-owned subsidiary, Culver Capital, LLC, a Georgia consumer lender (Culver) (formerly known as Rome Finance Co.… Continue Reading