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Maryland EWA legislation draws protest

Payments Dive

A Maryland bill calling for some earned wage access providers to be registered and licensed has triggered opposition from fintech advocates.

Maryland 243
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EWA advocates push back on Maryland guidance

Payments Dive

At least one earned wage access advocate is pushing back on Maryland’s recent guidance that labels some on-demand wage offerings as loans.

Maryland 195
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“True Lender Act” Bill Proposed in Maryland

CFPB Monitor

Maryland has joined the ranks of states considering legislation that would codify elements of “true lender” theory in an effort to impose federally preempted state licensing requirements and rate caps on loans to Maryland residents. Continue Reading

Maryland 148
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Maryland gets tough on BNPL

Payments Dive

Two buy now, pay later companies pivoted in offering their services in the state because it insists they must be licensed to provide loans.

Maryland 243
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Big Tech Compliance Tracker: Tencent Says Big Tech Needs Greater Oversight; Group Seeks To Block Maryland Online Ad Tax

PYMNTS

Group Seeks to Block Maryland Online Advertising Tax. Marylanders for Tax Fairness is preparing for a battle in January over the state’s attempt to make a digital advertising tax, the Baltimore Sun reported. Maryland legislators ratified the tax earlier in 2020, but Gov. Larry Hogan vetoed the levy. Larry Hogan vetoed the levy.

Maryland 151
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Walmart Officially Sorry It Can’t Tell Massachusetts From Maryland

PYMNTS

In Walmart’s defense, it was specifically selling the promotion of the University of Maryland’s mascot , not the school itself … where one could presumably learn the basics of U.S. We understand the pride Marylanders feel for the Terps and apologize for the mistake.”

Maryland 100
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Maryland Community Bank Wades Into Cannabis Market

PYMNTS

As more financial institutions (FIs) warm up to the idea, one bank in Maryland is taking significant steps to address cannabis companies’ FinServ challenges. Providing financial services to legal marijuana businesses in the U.S. has proven a challenging, complicated venture for the nation’s banks.

Maryland 104