Maryland Enacts Override of County, City Anti-PL Laws
May 27, 2002
Subprime lenders got from Maryland Gov. Parris Glendening what they could not get federally from another Maryland Democrat, Sen. Paul Sarbanes, chairman of the Senate Banking, Housing and Urban Affairs Committee: an override of county and city anti-predatory lending measures. Glendening signed a predatory lending bill, H.B. 649, on May 16 containing language that precludes Maryland cities and counties from enacting and enforcing similar measures – something the mortgage industry has been clamoring for