02-029 C.M.R. ch. 109, § I - AUTHORITY

Title 9-B M.R.S.A. §215 states that the Superintendent shall have the power to implement by rule any provision of law relating to the supervision of financial institutions and their subsidiaries or financial holding companies and their subsidiaries.

Title 9-B M.R.S.A. §241 gives the Superintendent the power to promulgate rules defining, limiting or proscribing acts and practices which, when engaged in by a financial institution or its subsidiary or by a financial institution holding company or its subsidiary, are determined to be anticompetitive, unfair, deceptive or otherwise injurious to the public interest.

Title 9-B M.R.S.A. §242 gives the Superintendent the authority to promulgate rules defining, limiting or proscribing false, misleading or deceptive advertising or representations by a financial institution authorized to do business in this State, a credit union authorized to do business in this State, an association of such institutions or a financial institution holding company.

Notes

02-029 C.M.R. ch. 109, § I