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Neutral Bill Mar 16, 2026

Credit Regulation - Maximum Interest Rate for Active Service Members (Service Members Civil Relief Act)

Prohibiting a person from charging an annual interest rate above 6% per year on a certain obligation held by an active service member or jointly by an active service member and the active service member's spouse; requiring that the active service member or the active service member's spouse provide the creditor with certain notice and documentation not later than 180 days after termination or discharge from active duty; and authorizing a court to grant a creditor relief from application of the Act after a certain finding.

https://legiscan.com/MD/bill/HB1606/2026
Darrell Odom Delegate Ben Brooks State Senator Dawn Gile State Senator Cosponsor Bryan Simonaire State Senator Cosponsor
CREDIT COURTS LOANS Interest Notices Time Armed Forces and Uniformed Services Commercial Law - Credit Regulation Installment Payments Civil Rights and Social Equity Spouses
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