Maryland Payday loan laws. Maryland Payday loan legislation.

Maryland Payday loan laws. Maryland Payday loan legislation. Maryland does not have specific payday loan safe-harbor legislation. At this time, the best approach is to offer payday loans via the Internet, one of the alternative methods (cash rebates, ISP model, etc.) discussed in our training materials, or the newest model, the CSO (Credit Services Organization) approach.

For a thorough discussion of the payday loan industry and access to our payday loan training materials, we recommend you proceed to Payday and Paycheck Loans.com

Maryland Payday Loan Laws & Legislation State Information Legal Status: Prohibited Citation: Consumer loan act applies. Md. Code Ann. Com. Law II § 12-301 et seq. Small Loan Rate Cap 2.75% per month; 33% per year. Regulator: Maryland Commissioner of Financial Regulation Address: 500 North Calvert Street Suite 402 Baltimore MD 21202 Phone: (410) 230-6100 Fax: (410) 333-3866 Regulatory Contact: Michael Jackson Director, Regulatory Policy Regulator’s Website Online Resources: Consumer Credit - Publications