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Opinion

Opinion Summary of Selected Opinion 97-181

Date: 10/01/1997
Organization: Division of Banks
Docket Number: 97-181

This opinion was issued in the fourth quarter of 1997.

Permissibility of importing interest rates

It is the position of the Division of Banks that out-of-state retail stores which issue credit cards to Massachusetts residents cannot charge the rates of interest permitted by their home states. Also, such entities are required to comply with the notice requirements of Mass. Gen. Laws chapter 255D, § 27.

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