Mass. Gen. Laws ch. 140 § 114C
A card issuer as defined in section one of chapter one hundred and forty D, whether located within or without the commonwealth, may assess an annual fee provided that the cardholder as defined by said section one, is notified of the amount of any such fee on or with the billing statement for the billing period prior to that in which the annual fee is billed to the cardholder's account. A cardholder may cancel his credit card agreement at any time during this period without penalty. If the cardholder cancels the agreement at any other time during the year, he shall receive a refund on a pro-rata basis of two-thirds of the annual fee.
A card issuer shall report semi-annually to the commissioner the finance charge rate expressed as an annual percentage rate and the amount of any annual or other fee charged during the preceding quarter to its cardholders and the conditions under which a finance charge may be imposed, including the time period within which any credit extended may be repaid without incurring a finance charge. The commissioner shall publicize and make this information readily available to the public.
Mass. Gen. Laws ch. 140, § 114C