From the National Consumer Law Center:

The Maryland State Senate is nearing passage of a bill that could legalize 300% APR payday advance loans in Maryland. The bill, HB 1294, exempts “earned wage access” loans from Maryland’s 33% interest rate cap, allowing fees and so-called “tips” that could add up to $100 or more per month. The bill has already passed the Maryland General Assembly and the Senate Finance Committee.

Call your Maryland Senator and tell them not to legalize 300% APR payday advance loans in Maryland. You can also call Governor Moore’s office at (410) 974-3901 or send his office a text message at (301) 750-3111. Let them know there’s no reason to exempt 300% APR earned wage advances and other new forms of payday loans from Maryland’s 33% interest rate cap, and they should please oppose HB1294.