HB 1606 — Maryland

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.

Latest action: First Reading House Rules and Executive Nominations · Feb 17, 2026

Synopsis written by the legislature's own staff, as published on the official bill page. Status label is derived from the recorded actions. The full text below is the record.

Committees: Rules and Executive Nominations (House of Delegates)

Updated Mar 17, 2026