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Credit industry under state regulation eyed in Maryland
A Maryland state senator said a plan will seek to bring the multistate revolving credit industry under state regulation. Senator Joseph A. Bertorelli said his Legislative Council committee will study recommendations from the state loan commissioner’s office before the 1961 session. The industry operates through thousands of retail stores with credit reports and monthly collections, charging up to 13 percent or more per month on unpaid balances. The panel will also examine similar bills from other states as part of the study.
MENTIONED IN THIS ARTICLE
Ing
Joseph A. Bertorelli
Balto
Legislative Council
State Loan Commissioner's Office
Bertorelli Committee
Bertorelli
A. Atty
Joseph S. Kaufman