Researching Debt and Credit Law in Maryland

Introduction

Debt and credit law are governed by both state and federal laws. Depending on the specific problem you are trying to research, you may need to research Maryland state law, federal law, or both.

Maryland Statutes

In Maryland, the official source of the state statutes is the Annotated Code of Maryland. All Maryland law libraries (list) and many Maryland public libraries (see SAILOR, Maryland's Online Public Information Network sponsored by Maryland public libraries) carry the Annotated Code of Maryland in print. For your convenience, this guide provides links to Maryland's statutes in a free web database maintained by Lexis-Nexis. Keep in mind, however, that the print version may be more useful in your research because it provides summaries of and citations to cases that have interpreted each statute. The free web version does not give summaries of case law.

Citations to selected Maryland debt and credit law statutes (available online from Lexis-Nexis; click the "+" next to Maryland Code to see a list of titles):

• Md. Code Commercial Law Article, Title 1: General Provisions
• Md. Code Commercial Law Article, Title 9: Secured Transactions
• Md. Code Commercial Law Article, Title 12: Credit Regulations (includes restrictions on interest rates and installment or "rent-to-own" sales)
• Md. Code Commercial Law Article, Title 15: Debt Collection - Special Provisions (includes assignment of debts, attachment of wages, priorities in insolvency/bankruptcy)

For more information on researching Maryland statutes, see Finding Statutes and Searching for Maryland Statutes When You Don't Have a Citation.

Federal Statutes

The official source of the federal statutes is the United States Code. All Maryland law libraries (list) and many Maryland public libraries (see SAILOR, Maryland's Online Public Information Network sponsored by Maryland public libraries) carry the United States Code in print. Many of the same libraries also carry one of the unofficial versions, the United States Code Annotated and the United States Code Service. It is a good idea to do your federal statute research in one of these unofficial print versions of the Code, because they are both more up-to-date than the official Code, and because they include summaries of cases that interpret each statute. However, below are quick links to a few important federal debt- and credit-related statutes:

• The Consumer Credit Protection Act, 15 U.S.C. Sections 1601-1693r
• The Equal Credit Opportunity Act, 15 U.S.C. Sections 1691-1691f (prohibits discrimination by lenders on the basis of race, sex, marital status, religion, etc.)
• The Fair Credit Reporting Act, 15 U.S.C Sections 1681-1681v (regulates consumer credit reporting)
• The Fair Debt Collection Practices Act, 15 U.S.C. Sections 1692-1692o

Maryland Regulations

The Maryland Commissioner of Financial Regulation regulates and investigates complaints against credit reporting agencies, retail installment sellers, mortgage lenders, and credit unions in Maryland. The Department's regulations are published officially in Title 9, Subtitle 3 of COMAR (the Code of Maryland Administrative Regulations), the print version of which is available in all Maryland law libraries (list) and many Maryland public libraries (SAILOR). The Department's regulations are also available electronically on the Division of State Documents home page.

Federal Regulations

The Federal Trade Commission ("FTC") and the Federal Reserve Board regulate consumer lending, credit reporting, and debt collection practices. The FTC's regulations are published officially in Title 16 of the CFR (the Code of Federal Regulations), the print version of which is available in all Maryland law libraries (list) and many Maryland public libraries (SAILOR). The Federal Reserve Board's regulations are published officially in Title 12 of the CFR.  They are also published electronically on the Government Printing Office's web site.

The Department of Education's Office of Postsecondary Education ("OPE") regulates student loans. The OPE's regulations are published official in Title 34 of the CFR. The regulations are also available electronically on GPO Access.

Resources for Additional Help

• Money Troubles: Legal Strategies to Cope with Your Debts / Robin Leonard. 9th ed. Berkeley, Calif.: Nolo, 2003.
• Credit Discrimination / Deanne Loonin & Chi Chi Wu. 3rd ed. Boston, Mass.: National Consumer Law Center, 2002.
• Fair Credit Reporting / Anthony Rodriguez. 5th ed. Boston, Mass.: National Consumer Law Center, 2002.
• Take Control of Your Student Loan Debt / Robin Leonard & Deanne Loonin. 3rd ed. Berkeley, Calif.: Nolo, 2001.
• Debt Collection / Ronald S. Canter. Baltimore, Md.: MICPEL, 1998.
• Consumer Handbook to Credit Protection Laws / Federal Reserve Board. Washington, D.C., 2001.
• Federal Reserve Board consumer pamphlets on debt and credit problems
• FTC consumer pamphlets on debt and credit problems
• Federal Student Aid [financial aid] Portal

Cases

There are several ways to begin research into debt and credit case law. One way is to find the statutes that apply to your situation in the Annotated Code of Maryland, the United States Code Annotated, or the United States Code Service then look at the case summaries that follow them. You can find additional cases by reading books that explain the law and noting the cases they cite. Another method of finding cases is to search the Maryland Digest, which is a subject index to Maryland case law, or the Federal Practice Digest, which is a subject index to federal case law. The Digests arrange summaries of published cases by legal issue using something called the "topic and key number" system. Once you know the topic and key number combination that represents your issue, look up that topic and key number in the Digest and you should find a list of summaries of cases that discuss your issue. Each summary includes a citation to the full text of a case.

Source: This section developed by Sara Kelley, Librarian, Georgetown University Law Library, in partnership with the Maryland Legal Assistance Network. 

Last Review Date 10/04 (MLAN/SK)