Court upholds 24 percent rate ceiling in Maryland
Maryland's Court of Appeals unanimously upheld a 24 percent ceiling on interest rates for banks and other lenders, rejecting a lower court ruling that allowed up to 36 percent. Six banks had sought higher rates, arguing card transactions equaled small loans. the state contended all lenders must follow the same ceiling and consumer protections. The ruling reinforces uniform interest limits and clarifies that Maryland law caps credit charges for banks and similar lenders.
MENTIONED IN THIS ARTICLE
Annapolis
Maryland
Court of Appeals
State Attorney General
Baltimore
Appeals Court
General Assembly
Marshall Levin
Stephen Sachs
Levin
Paul Strain
Lawrence Rodowsky
Wall Street rallies as Dow hits 14 month high
A drop in interest rates spurred strong buying on Wall Street with the Dow Jones industrial average gaining 37.07 points to finish at 944.26, its second largest daily rise. Gold prices rose as 93.57 million shares traded on the NYSE, signaling investor optimism amid expectations of further mortgage rate declines and easing credit conditions.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Dow Jones
Dow
U.S
Europe
New York Stock Exchange
Also Mentioned on This Page
Maryland Association of Certified Public Accountants
MACPA
Maryland Association of Cpas
York Road
Lutherville
Allg Pw
Balt CF
CSX Corp
H Clorox
CotaCl
Comsat
Exxon
Fairchild Ind
Fedders
Fst
MD Bne
Gulf Oil
Hech
IBM
Kmart
Litton
Lowes
M Marriott Corp
Atu Mercantile Bakshr
Mobil
Penney
Plantin
Potom Elmeay Safewy
Sears
Standex
Subr Bep
Tandy Wean
Texaco
USFG
Whittak
Woolworth
Baker Watts & Co
Frederick
Plantronics
Ns Ar
Fest
Burbha Wales
Stuart Shields Inc
Richard Pratt
Federal Home Loan Banic Board
Savings and Loan Associations
Ford Meter Co
C.D
Hagerstown
Marsland Stioidor
Washington County Library
Potomac St
Boyle
Hood College
Rosemont Ave
Tatum Building
Bowen
Charles Town
W.va
Jefferson County Civic Center
E. Washington St
Berkeley Springs, W. VA
The
Country Inn
Washington St
Waynesboro
Pennsylvania
Bowen Enterprise
Ferris & Company, Inc
SIPC
E. Washington St. Hagerstown
Savings Bank
Subsarta Renard Ly Ata
Frederick County
Fredenck
Fredenck MD
FDIC
Monte Money Market
Treasury
IRA
Federal Deposit Insurance Corporation
Frederick County National Bank
First Federal
Federal Savings and Loan Insurance Corporation
First Federal OF Maryland
First FeDeral Savings and Loon
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