Sec. 1. 9-A MRSA §1-301, sub-§2, as amended by PL 1995, c. 309, §5 and affected by §29, is further amended to read:

2. "Administrator" means, except in cases in which a supervised financial organization is the creditor, the administrator designated in Article VI, section 6-103. In cases in which a supervised financial organization is the creditor, "administrator" means the Superintendent of Banking Financial Institutions.

Sec. 2. 9-B MRSA §111, as amended by PL 1995, c. 309, §14 and affected by §29, is further amended to read:

§111. Declaration of policy

By enactment of this Title, it is declared to be the policy of the State of Maine that the business of all financial institutions shall must be supervised by the Bureau of Banking Financial Institutions in a manner to assure ensure the strength, stability and efficiency of all financial institutions,; to assure ensure reasonable and orderly competition, thereby encouraging the development and expansion of financial services advantageous to the public welfare; and to maintain close cooperation with other supervisory authorities.

In addition, with respect to the Bureau of Banking's Financial Institutions' authority pursuant to Title 9-A, section 1-301, subsection 2, all financial institutions must be supervised in such a way as to protect consumers against unfair practices by financial institutions that provide consumer credit, to provide consumer education and to encourage the development of economically sound credit practices.

Sec. 3. 9-B MRSA §121, as amended by PL 1995, c. 309, §15 and affected by §29, is further amended to read:

§121. Bureau of Financial Institutions

There is created under this Title a Bureau of Banking Financial Institutions, which has the responsibility of administering the provisions of this Title. In addition, in cases in which a financial institution is the creditor, the Bureau of Banking Financial Institutions has the responsibility of administering the provisions of the Maine Consumer Credit Code pursuant to Title 9-A, section 1-301, subsection 2.

Sec. 4. 9-B MRSA §131, sub-§4, as enacted by PL 1975, c. 500, §1, is amended to read: