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Massachusetts law about credit and banking

A compilation of laws, regulations, cases, and web sources on credit and banking law.

Table of Contents

Massachusetts laws

Massachusetts regulations

201 CMR 16 Placing, lifting and removal of security freezes 

209 CMR Division of Banking regulations

Federal laws

Federal regulations

12 CFR 226 Regulation Z Truth in lending

Selected case law

Lance v. PNC Bank, NA, US District Court, Mass. (2015)
In "an action arising out of allegedly improper reporting of the status of a residential mortgage loan to a credit reporting company," claims under MGL c.93, s.54A and c.93A are preempted by the federal Fair Credit Reporting Act (FCRA). 

Tyler v. Michaels Stores, 464 Mass. 492 (2013)
Construing G. L. c. 93, § 105 (a), the court held: "a zip code constitutes 'personal identification information' ...; that the term 'credit card transaction form' refers equally to electronic and paper transaction forms; and that a plaintiff may bring an action for violation of G. L. c. 93, § 105 (a), without alleging a claim of identity fraud."

Web sources

Advice for older consumers about credit cards, National Consumer Law Center, December 2014.
This is a helpful document for consumers of any age looking for information on getting and using credit cards.

Financial resources for consumers, Mass. Office of Consumer Affairs
Provides links to Mass. information on banking, loans, credit reporting, debt collection, and more

Cashing checks and opening bank accounts, Mass. Legal Help
"If you do not use a bank account to cash checks and pay your bills, chances are you are spending too much for these services. check cashing outlets will cash your government, employer, or personal check but at a high cost."

Compliance with Regulation CC: A Guide for Financial Institutions, Federal Reserve Board
Explains when your money will be available to you after you deposit it in a bank

Consumer rights for domestic violence survivors in Massachusetts, National Consumer Law Center, 2011
The information in this packet is intended to help you separate your finances from your abuser, deal with any existing debts, stay financially independent in the future and avoid traps and scams, and get more help and information with these issues.

Credit and loans, Federal Trade Commission
Includes information on credit scores, debit and credit cards, and loans

Credit card rules and the CARD Act, Findlaw.
Explains the protections for credit card holders and applicants under the Credit Card Accountability Responsibility and Disclosure Act of 2009.

Credit discrimination, Consumer Financial Protection Bureau
Include links to file a complaint and ask questions

Credit repair, Nolo, 2020
Includes guidance on improving your credit. Requires free library card for access.

Does a credit card make sense for me?, Mass. Attorney General
There are benefits and risks to making purchases with credit. These tips from the Attorney General's Office can help you protect yourself when using a credit card.

Guide to consumer credit, Mass. Attorney General, February 2018
Covers Truth in Lending, billing rights, costs of credit, Fair Credit Reporting, Fair Debt Collection, and more

Understanding debt and credit, Mass. Attorney General.
Learn more about managing your credit and your rights and responsibilities with credit and debt. Having an issue with a debt collector, a credit card company, or a credit reporting agency? File a consumer complaint with the Attorney General's Office.

Print sources

Banking 101, MCLE New England, 2013

Consumer credit: law, transactions and forms, Matthew Bender, loose-leaf

Consumer credit regulation, NCLC, 2015

Credit discrimination, NCLC, 2018

Truth in lending, NCLC, 2015



Within Massachusetts only

Within Massachusetts only


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Last updated: February 11, 2021