Maryland Statutes
Subtitle 8 - Prohibited Activities; Penalties
Section 5-808.1 - Cease and Desist Orders -- Civil Penalty

(a)    After notice and a hearing, the Commissioner may assess a civil penalty against a banking institution that the Commissioner determines has:
        (1)    Violated a cease and desist order issued by the Commissioner under § 5–808 of this subtitle; or
        (2)    Engaged in:
            (i)    An unsafe or unsound banking 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 banking 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.