The Honorable Casper R. Taylor, Jr.
Speaker of the House
State House
Annapolis MD 21401

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed House Bill 973 - Unsecured Closed End Credit Regulation - Credit Services Businesses - Study Commission.

This bill prohibits a credit services business from assisting a consumer in obtaining an extension of unsecured closed-end credit at an interest rate that would be prohibited under the State's consumer credit provisions including transactions in which a payment instrument is held to ensure payment, except for federal preemption. The prohibition also applies to the business's employees and to independent contractors acting on behalf of the business Senate Bill 882, which was passed by the General Assembly and signed by me, accomplishes the same purpose. Therefore, it is not necessary for me to sign House Bill 973.

Parris N. Glendening