Maximum finance charge -- Closed end account -- Change in finance charge during term of account prohibited

Checkout our iOS App for a better way to browser and research.

    A seller or holder may not enter into a closed end retail credit account agreement, providing for an initial rate of finance charge pursuant to § 12-505(a)(3) of this subtitle, which contains a provision that permits the seller or holder to increase or decrease the applicable rate of finance charge from time to time during the term of the account.


Download our app to see the most-to-date content.