Me. Rev. Stat. » Title 9-A
Maine Revised Statutes

Me. Rev. Stat. tit. 9-A, § 9-401 (2026)

Misrepresentation

✓ current as of May 2026
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A creditor or a person acting for a creditor may not induce a consumer to enter into a consumer credit transaction by misrepresentation of a material fact with respect to the terms and conditions of the extension of credit. A consumer so induced may rescind the sale, lease or loan or recover actual damages, or both.   [RR 2025, c. 1, Pt. C, §59 (COR).]
SECTION HISTORY
PL 1987, c. 396, §12 (NEW). RR 2025, c. 1, Pt. C, §59 (COR).
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Notes of Decisions
Cited in 5 cases (3 in the last 5 years), 2014–2025 · leading case: McGahey v. Fed. Nat'l Mortg. Ass'n, 266 F. Supp. 3d 421 (D. Me. 2017).
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McGahey v. Fed. Nat'l Mortg. Ass'n, 266 F. Supp. 3d 421 (D. Me. 2017). “(2017), as well as claims for fraud and for misrepresentation in violation of Maine’s Consumer Credit Code, 9-A M.R.S.A. § 9-401 (2017). ECF No. 16. Defendants moved to dismiss all claims against them.”
Lewis Lubar, Tr. of the Clover Trust v. Frederick W. Connelly, 2014 ME 17 (Me. 2014). “§ 1-301(17); (2) the Trust’s closing attorney, as the Trust’s agent, unlawfully induced Connelly to sign the note and *653 mortgage, citing 9-A M.R.S. §§ 9-401, 9-408 (2013); (3) the Trust failed to provide the required notice of his right to rescind at closing and whether…”
Douglas v. Lalumiere (D. Me. 2021). · cites it 2× “3 Fowler’s rescission claim is premised on a section of the Maine Consumer Credit Code, 9-A M.R.S.A. § 9-401, which provides that if a creditor “induce[s] a consumer to enter a consumer credit transaction by misrepresentation of a material fact with respect to the terms and…”
Douglas v. Lalumiere (D. Me. 2021). “2017) (citing Me. Rev. Stat. Ann. tit. 9-A, § 9-401). Without an adequate agency relationship, this claim fails because the Complaint fails to plead facts which, if proven, would establish that Lalumiere was acting in an agency capacity with MSB when he made the alleged…”
Douglas v. Lalumiere (D. Me. 2025). “He states that 9-A M.R.S. § 9-401 provides him such a remedy due to misrepresentations in connection with his real estate dealings with Birch Point.”
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