ME LD2056

Amends Maine's consumer credit law (9-A MRSA §3-308) to add a new exception to the requirement that scheduled loan payments be substantially equal

Creates an exception for simple interest transactions where scheduled payments vary, as long as no single payment exceeds 50% more than any other payment

Maintains existing exceptions for down payments and transactions where payment intervals differ substantially

Repeals and replaces the 1985 version of the equal payment requirement statute