Yesterday the Montgomery County Council passed Bill 36-04, the predatory lending ordinance, by a vote of 7-2, with council members Denis and Knapp providing the dissenting votes. 

The damages for humiliation and embarrassment can not exceed $500,000 and the disparate impact language that was removed at the July 6th work session remains out of the bill at the disappointment of Council President Perez.  With that said, however, Perez now wants the Council's legislative analyst to draft a bill before the end of the year that addresses, across the board, issues of disparate impact where applicable (in Chapter 27).  This new bill would be broad based and inclusive of everything from housing sales, to automobile sales, to employment, etc.

Perez wants to codify disparate impact.
 
Effective Date:  County Executive Doug Duncan needs to sign the bill and it normally takes him approximately 10 days to sign.  Upon his signature the bill will take effect 91 days later.
 
The enacted version of the bill will most likely be available on the Montgomery County Council's website within 48 hours.  Below is a link to this site.
http://www.montgomerycountymd.gov/csltmpl.asp?url=/content/council/index.asp