MD HB152

Consumer wire transfers made ancillary to bank-to-bank transfers via wire services would become subject to the federal Electronic Funds Transfer Act of 1978 (15 U.S.C. 1693 et seq.), extending federal consumer protections to these transactions

Applies to all financial institutions operating in Maryland

Contains an automatic abrogation clause: if a court finds the Act inapplicable to federally chartered institutions or out-of-state chartered institutions operating in Maryland, the entire Act becomes void without further legislative action

Effective date: October 1, 2026