Maryland

Per the Maryland Attorney General’s Office: Maryland Attorney General Anthony G. Brown’s Securities Division announced that it has joined a $22.5 million multistate settlement with Nexo Capital, Inc. In September 2022, Maryland filed an action against Nexo in connection with its Earn Interest Product (EIP) accounts. The Securities Division had alleged that the EIP accounts enabled customers to deposit crypto assets with Nexo. In exchange, customers automatically earned interest on those deposits. Nexo offered investors interest rates of up to 36% on their deposits, significantly higher than rates offered for short-term, investment grade, fixed-income securities, or bank savings accounts. As of September 2022, over 93,300 United States residents had EIP accounts worth approximately $800 million, with more than 1,800 Maryland residents holding accounts worth about $15 million.

The Securities Division’s Consent Order, which details the case and formalizes the terms of the settlement, concluded that Nexo’s EIP accounts were unregistered securities, and that the company operated as an unregistered broker-dealer. The Order further concluded that Nexo engaged in dishonest and unethical practices and misrepresented and failed to provide important facts to its customers, such as information related to its regulatory compliance, profit-making activities, and interest generation.

With 50% of Americans saying they are “very satisfied” with the way their personal life is going, the personal-finance website WalletHub today released its report on 2023’s Happiest States in America, with Maryland coming in as the third happiest state in the country.

To determine where Americans have the highest satisfaction with life, WalletHub compared the 50 states across 30 key indicators of happiness. The data set ranges from the depression rate and the share of adults feeling productive to income growth and the unemployment rate.

Per the State of Maryland: Governor Wes Moore, First Lady Dawn Moore, and Lieutenant Governor Aruna Miller today honored 9/11 Day of Remembrance in Maryland, participating in events throughout the day to honor those who lost their lives during the terrorist attacks on September 11, 2001, including 69 Marylanders.

“Twenty two years ago, our world changed forever. This isn’t just a day of mourning—it is a day of gratitude,” said Gov. Moore. “We feel gratitude for the first responders who rushed to the scene, we feel gratitude for the Americans who answered the call to serve and deployed to defend our freedom overseas. Today, as we climb these stairs, let’s recommit ourselves to living with courage, grace, grit, fearlessness, and with an abiding commitment to leaving no one behind.”

The personal-finance website WalletHub today released its latest rankings of the States with the Largest & Smallest Credit Card Debt Increases in Q2, based on newly released data from the Federal Reserve. Maryland’s credit card debt increase ranks as the 16^thhighest in the nation.

Maryland Stats:

The Maryland Department of Agriculture has confirmed the presence of beech leaf disease and the associated nematode, Litylenchus crenatae maccannii in Maryland. Beech leaf disease is a new disease affecting all beech species including American beech (Fagus grandifolia). The disease has been found in surrounding states including Pennsylvania, Virginia, New Jersey, Ohio, Michigan, New York, Connecticut, Massachusetts, Rhode Island, New Hampshire, and Maine.

Beech Leaf Disease causes a dark banding or striping between the leaf veins.  Trees with severe symptoms are heavily banded with yellowing, shrunken, and thickened leaves. The disease can kill understory trees in two years and mature trees in six to ten years. Treatments for are currently being researched. “I applaud the department’s Forest Pest team for their quick action on identifying this disease,” said Maryland Department of Agriculture Secretary Kevin Atticks. “The team will continue to monitor and report the spread of Beech Leaf disease as it occurs.  Homeowners are encouraged to do the same.”

Per the State of Maryland: Governor Wes Moore and Lieutenant Governor Aruna Miller today visited the 142nd Maryland State Fair in Timonium to celebrate the work of the Maryland agricultural industry. In addition to touring the fairgrounds, Governor Moore spoke with farmers and agricultural producers during the Governor’s Ag Day Luncheon.

“Agriculture is Maryland’s number one industry and we produce some of the best agricultural products in the nation,” said Gov. Moore. “Our farmers are the lifeblood of our state’s economy and you cannot understand the story of Maryland without understanding the stories of our farmers.”