MA S750

Establishes penalties of up to $5,000 per violation and a maximum of $100,000 per violation plus investigation costs for licensees who violate laws governing debt collectors, third party loan servicers, small loan companies, check cashers, sales finance companies, premium finance agencies, and retail installment sellers

Grants the Commissioner of Banks authority to issue cease and desist orders, suspend or revoke licenses, prohibit individuals from participating in regulated financial businesses for up to 36 months, and file civil enforcement actions in court

Designates all investigation records and examination reports as confidential and privileged communications, exempt from subpoena and public records requests, while allowing the commissioner to share information with federal regulators, other states, foreign governments, and law enforcement

Expands the definition of exempt entities to include out-of-state banks, trust companies, savings banks, savings and loan associations, and credit unions organized under other states' laws

Imposes criminal penalties of up to $1,000 fine and/or 6 months to 1 year imprisonment for individuals who refuse to testify, produce records, or obstruct examinations by the commissioner