Advance loan chains eying Md.; General Assembly considering exemption from interest restrictions; ‘A good market’

Advance loan chains eying Md.; General Assembly considering exemption from interest restrictions; ‘A good market’

Nationwide financing that is payday are desperate to maneuver into Maryland as the General Assembly considers exempting such businesses from the legislation that limits the interest rates allowed on consumer loans.

If legislators approve the alteration, it is gonna start the doorway for the chains to create store in Maryland and initiate making high-interest, short-term loans to clients which can be borrowing against their next paycheck. Read more