Cash advance chains eying Md.; General Assembly considering exemption from interest limitations; ‘A good market’
Nationwide lending that is payday are desperate to transfer to Maryland since the General Assembly considers exempting such organizations from a law that limits the interest levels permitted on customer loans.
If legislators approve the alteration, it will probably start the entranceway when it comes to chains to setup store in Maryland payday loans OR and begin making high-interest, short-term loans to customers who will be borrowing against their next paycheck.
“they’dn’t be working this difficult to get legislation when they don’t feel there clearly was a good market in Maryland and don’t need to get involved with it,” stated Maxine Adler, an Annapolis lobbyist employed with a nationwide relationship of payday loan providers. (more…)