For many Maryland entrepreneurs, a franchise is the business of choice. It is a chance to start a new business with established products or services, marketing and trade name. The prospect may seem attractive, but it is important to conduct a substantial amount of due diligence before signing any documents.
Maryland readers may be familiar with the Consumer Financial Protection Bureau, which accused an auto lender in a nearby state of employing aggressive debt collection tactics when its customers defaulted on their loans, many of whom were active-duty or former military. The auto lender accused of using illegal business practices, Security National Automotive Acceptance Co., denies any wrongdoing. Despite that fact, the company decided to enter into a settlement with federal officials.