Wednesday, April 7, 2010

Payday lending bill gets nod from lawmakers


Gary Haber of the Baltimore Business Journal reports: Legislation that would end a practice that opponents say allows payday lenders to bypass Maryland’s interest rate cap on short-term loans has been passed by both chambers of the General Assembly and now awaits Gov. Martin O’Malley’s signature. Read more: Md. lawmakers OK payday lending limits - Baltimore Business Journal

Closing the payday-lending loophole was one of MCRC's legislative priorities for 2010.

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