Maine § 9-B §242 Deceptive advertising

Maine Statutes

§ 9-B §242 — Deceptive advertising

Maine·Title 9-B FINANCIAL INSTITUTIONS·Part 2 BUREAU OF FINANCIAL INSTITUTIONS·Ch. 24 ANTICOMPETITIVE OR DECEPTIVE PRACTICES

1.Rules. The superintendent has authority to adopt rules, pursuant to section 251, defining, limiting or proscribing advertising 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, or representations made by those institutions, that is false, misleading or deceptive.

2.Orders against deceptive advertising.

3.Appeal. An interested party affected by the exercise of the superintendent's authority in subsection 2, paragraphs A or B shall have the right to appeal such decision or order pursuant to section 233, subsection 1 and shall also be entitled to rights specified in section 233, subsection 2.

4.Advertisement of insurance products. In a

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1.
Rules.
The superintendent has authority to adopt rules, pursuant to section 251, defining, limiting or proscribing advertising 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, or representations made by those institutions, that is false, misleading or deceptive.
2.
Orders against deceptive advertising.
3.
Appeal.
An interested party affected by the exercise of the superintendent's authority in subsection 2, paragraphs A or B shall have the right to appeal such decision or order pursuant to section 233, subsection 1 and shall also be entitled to rights specified in section 233, subsection 2.
4.
Advertisement of insurance products.
In any advertisement of an insurance product offered pursuant to section 448, a financial institution or its affiliate shall include a statement that the product is not insured by the Federal Deposit Insurance Corporation or National Credit Union Administration, as applicable.

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