Maryland

Legal Status

Prohibited - Consumer loan act applies

Citation

Md. Code Com. Law § 12-306

Loan Terms

Maximum Loan Amount: not specified

Loan Term: Loans $700 and below: term may not exceed 30 months and 15 days. Loans $701-$1999: 35 months and 15 days. Loans $2000+: 72 months and 15 days.

Finance Charge for 14-day $100 Loan: 2.75 (but effectively banned)

APR for 14-day $100 Loan: #VALUE!