MD SB659

Requires the Commissioner of Financial Regulation to adopt consumer protection regulations for domestic electronic funds transfers initiated by financial institutions operating in Maryland

Mandates that protections be consistent with federal Electronic Fund Transfer Act (15 U.S.C. § 1693(a)(7)), but applies them regardless of exemptions in that federal provision

Applies to all financial institutions operating in the state, including federally chartered and out-of-state chartered institutions

Contains an automatic abrogation clause: if a court rules the Act inapplicable to federally chartered or out-of-state institutions, the entire Act becomes void without requiring General Assembly action

Takes effect October 1, 2025