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2014 Regular Session



Financial Institutions - Interest Payable on Escrow Accounts and Specific Purpose Savings Accounts

Sponsored by:

Delegate Olszewski


Vetoed by the Governor (Duplicative)

Synopsis:Altering the interest rate payable by specified lending institutions on escrow accounts created in connection with loans secured by a first mortgage or first deed of trust on residential real property; altering the interest rate payable by specified banking institutions on interest bearing accounts instituted for a specific purpose; and applying the Act retroactively to escrow accounts and savings accounts in existence on or after January 1, 2014.
Analysis:Fiscal and Policy Note
All Sponsors:Delegate Olszewski
Additional Facts:Cross-filed with: SB0583
Bill File Type: Regular
Effective Date(s): June 1, 2014
Economic Matters   View Committee HearingFinance   View Committee Hearing
Broad Subject(s):Financial Institutions
Commercial Law - Credit Regulation
Narrow Subject(s):Banks and Trust Companies
Escrow Accounts
Financial Institutions -see also- Banks; Credit Unions; etc.
Loans -see also- Mortgages
Savings and Loan Associations

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October 24, 2017 1:51 P.M.