payday loans
2025 End of Session Report
Yesterday was the last day of the legislative session and although it was a cool, gray, rainy day, there were still moments when the rain stopped, and the sun burst through. This is an apt description of this year's legislative session as well. At a time when economic protections and policies to promote racial equity are being decimated, and the Consumer Financial Protection Bureau is currently on life support, Maryland’s General Assembly passed some great bills, some good bills, and some very bad bills for working families. Below are some of the bills that Economic Action was thrilled to lead ...
Help Stop Predatory Payday Loans in Maryland (Again!)
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 ...