Maryland HB152 regulates electronic funds transfers, subjecting certain consumer wire transfers to federal law to prevent elder fraud.

Maryland HB152 amends the state's Commercial Law to ensure that consumer wire transfers made through electronic funds transfers are subject to the Federal Electronic Funds Transfer Act of 1978. This aims to protect consumers, particularly the elderly, from fraud by aligning state regulations with federal standards. The Act will take effect on October 1, 2026.

Maryland HB152 regulates electronic funds transfers, subjecting certain consumer wire transfers to federal law to prevent elder fraud.

Maryland HB152 amends the state's Commercial Law to ensure that consumer wire transfers made through electronic funds transfers are subject to the Federal Electronic Funds Transfer Act of 1978. This aims to protect consumers, particularly the elderly, from fraud by aligning state regulations with federal standards. The Act will take effect on October 1, 2026.