Finance Companies
Maryland 2025 Regular Session
Financial Institutions - Consumer Credit - Application of Licensing Requirements (Maryland Secondary Market Stability Act of 2025) [SB-1026]
Providing that certain provisions of law governing the licensing of providers of certain financial services in the State do not apply to a certain person that acquires or is assigned a certain mortgage, mortgage loan, or installment loan under certain circumstances; establishing the Maryland Licensing Workgroup to study and make recommendations on licensing requirements for persons that provide financial services in the State; and requiring the Workgroup to report to the Governor and the General Assembly by December 31, 2025.
Sponsored by: Sen. Pamela Beidle
Third Reading Passed (44-0) on 03/17/2025
Spread the world
Gettr Maryland 2025 Regular Session
Financial Institutions - Consumer Credit - Application of Licensing Requirements (Maryland Secondary Market Stability Act of 2025) [HB-1516]
Providing that certain provisions of law governing the licensing of providers of certain financial services in the State do not apply to a certain person that acquires or is assigned a certain mortgage, mortgage loan, or installment loan under certain circumstances; establishing the Maryland Licensing Workgroup to study and make recommendations on licensing requirements for persons that provide financial services in the State; and requiring the Workgroup to report to the Governor and the General Assembly by December 31, 2025.
Sponsored by: Rep. Pamela Queen
Third Reading Passed (99-37) on 03/17/2025
Spread the world
Maryland 2025 Regular Session
Financial Institutions - Conventional Home Mortgage Loans - Assumption and Required Disclosures [HB-1018]
Requiring banking institutions, credit unions, mortgage lenders, mortgage lending businesses, and mortgage loan originators to include a certain provision in certain conventional home mortgage loans authorizing a certain borrower to purchase the property interest of a certain borrower in connection with a decree of absolute divorce if the lending entity determines that the assuming borrower qualifies for the loan; applying certain provisions of the Act retroactively; etc.
Sponsored by: Rep. Andrew Pruski
Referred Finance on 03/12/2025
Spread the world
Maryland 2025 Regular Session
Commercial Financing - Small Business Truth in Lending Act [SB-754]
Regulating commercial financing transactions, including by establishing requirements related to certain disclosures, calculations of annual percentage rates, terms of repayments, and other related items, and the extension of specific offers.
Sponsored by: Sen. Benjamin Kramer
Referred Economic Matters on 03/07/2025
Spread the world
Maryland 2025 Regular Session
Financial Institutions - Conventional Home Mortgage Loans - Assumption and Required Disclosures [SB-689]
Requiring banking institutions, credit unions, mortgage lenders, mortgage lending businesses, and mortgage loan originators to include a certain provision in certain conventional home mortgage loans authorizing a certain borrower to purchase the property interest of a certain borrower in connection with a decree of absolute divorce if the lending entity determines that the assuming borrower qualifies for the loan; applying certain provisions of the Act retroactively; etc.
Sponsored by: Sen. Dawn Gile
Referred Economic Matters on 03/15/2025
Spread the world
Maryland 2025 Regular Session
Commercial Financing - Small Business Truth in Lending Act [HB-693]
Regulating commercial financing transactions, including by establishing requirements related to certain disclosures, calculations of annual percentage rates, terms of repayments, and other related items, and the extension of specific offers.
Sponsored by: Rep. David Fraser-hidalgo
Favorable Report By Economic Matters on 03/17/2025
Spread the world
Maryland 2024 Regular Session
Commercial Financing - Small Business Truth in Lending Act [SB-509]
Regulating commercial financing transactions, including by establishing requirements related to disclosures, calculations of annual percentage rates, terms of repayments, and other related items, and the extension of specific offers.
Sponsored by: Sen. Benjamin Kramer
Referred Economic Matters on 03/01/2024
Spread the world
Maryland 2024 Regular Session
Commercial Financing - Small Business Truth in Lending Act [HB-574]
Regulating commercial financing transactions, including by establishing requirements related to disclosures, calculations of annual percentage rates, terms of repayments, and other related items, and the extension of specific offers.
Sponsored by: Rep. David Fraser-hidalgo
Hearing 1/29 At 1:00 P.m. on 01/29/2024
Spread the world
Maryland 2023 Regular Session
Economic Development - Success Assurance Model and Fund - Establishment [SB-969]
Establishing the Success Assurance Model in the Department of Commerce to provide comprehensive and targeted business services to small businesses through professional services entities; establishing the Success Assurance Fund to award grants to certain coordinating services providers, which shall be disbursed as payment to professional services entities selected to provide business services; requiring in fiscal year 2025, the Governor to include $4,000,000 for the Fund in the annual budget bill; etc.
Sponsored by: Sen. Cory McCray
First Reading Senate Rules on 02/28/2023
Spread the world
Maryland 2023 Regular Session
Financial Institutions - Student Financing Companies - Required Registration and Reporting [HB-913]
Requiring student financing companies to register with the Commissioner of Financial Regulation before providing services in the State; requiring a student financing company to renew its registration on an annual basis; authorizing the Commissioner to adopt registration procedures for student financing companies, which may include certain fees; and requiring student financing companies to annually report certain information, to be made publicly accessible on a certain website, to the Commissioner beginning March 15, 2024.
Sponsored by: Rep. Charlotte Crutchfield
Approved By The Governor - Chapter 456 on 05/08/2023
Spread the world
Maryland 2023 Regular Session
Financial Institutions - Maryland Community Reinvestment Act [HB-392]
Requiring the Commissioner of Financial Regulation to examine and prepare a written evaluation of the record of certain regulated financial institutions in meeting the financial needs of local communities where the institution is chartered; requiring the Commissioner to give a certain regulated financial institution a certain rating based on a certain examination and to prepare a written evaluation; requiring a certain regulated financial institution to prepare a certain improvement plan under certain circumstances; etc.
Sponsored by: Rep. Melissa Wells
Withdrawn By Sponsor on 02/28/2023
Spread the world
Maryland 2022 Regular Session
Consumer Credit - Commercial Financing Transactions [HB-1211]
Regulating commercial financing transactions, including by establishing requirements related to disclosures, calculations of annual percentage rates, terms of repayments, and other related items, and the extension of special offers; making a violation of the Act an unfair, abusive, or deceptive trade practice under the Maryland Consumer Protection Act and subject to certain enforcement and penalty provisions; etc.
Sponsored by: Rep. Seth Howard
Withdrawn By Sponsor on 03/08/2022
Spread the world
Maryland 2022 Regular Session
Commercial Financing Transactions - Requirements [SB-825]
Requiring that certain revenue, fees, and examination and investigation fees and assessments relating to commercial financing transactions be credited to the Nondepository Special Fund; regulating commercial financing transactions, including by establishing requirements related to disclosures, calculations of annual percentage rates, terms of repayments, and other related items, and the extension of special offers; etc.
Sponsored by: Sen. Benjamin Kramer
Hearing 3/30 At 1:00 P.m. on 03/22/2022
Spread the world
Maryland 2021 Regular Session
Commercial Law – Credit Regulation – Reverse Mortgage Loans Act – Revisions [SB-457]
Requiring that a borrower of a reverse mortgage loan be at least 60 years old and occupy the dwelling that secures the reserve mortgage loan as a principal residence; requiring a certain lender or an arranger of financing to provide a prospective borrower certain documents at certain times; requiring a certain lender to provide to the borrower a certain statement by January 31 each year and a certain disclosure at certain times; etc.
Sponsored by: Sen. Brian Feldman
Hearing 2/16 At 1:00 P.m. on 01/24/2021
Spread the world
Maryland 2021 Regular Session
Commissioner of Financial Regulation - Licensing of Nondepository Institutions - Elimination of Paper License Requirements [SB-251]
Providing for the elimination of certain paper licenses for collection agencies, credit services, lenders, installment lenders, mortgage lenders, mortgage loan originators, sales finance companies, check cashing services, money transmission businesses, and debt management services; providing for the licensing of certain persons for certain activities through the Nationwide Mortgage Licensing System and Registry (NMLS); requiring that certain licenses provided for through NMLS include certain information; etc.
Sponsored by: Sen.
Hearing 1/20 At 1:00 P.m. on 12/23/2021
Spread the world
Maryland 2018 Regular Session
Commercial Law - Credit Card Processors - Service Agreements [HB-1647]
Requiring a credit card processor to send a services agreement summary to businesses with whom it has, or intends to have, a services agreement; requiring a business to acknowledge a services agreement by signing, dating, and returning a copy of the summary of the services agreement to the credit card processor; requiring a credit card processor to provide written notice regarding a services agreement renewal 90 days before a business entity must cancel the agreement to prevent automatic renewal; applying the Act; etc.
Sponsored by: Rep. Seth Howard
Hearing 3/29 At 1:00 P.m. on 03/29/2018
Spread the world
Maryland 2019 Regular Session
Commercial Law – Credit Card Processors – Merchant Processing Agreements [SB-694]
Prohibiting a credit card processor from assessing or charging a fee, fine, or penalty that exceeds $500 if a business entity cancels a merchant processing agreement, or any fee, fine, or penalty if a business entity terminates a merchant processing agreement after the expiration of the initial term; requiring a merchant processing agreement to include certain information; requiring that certain information be provided in a certain manner in a merchant processing agreement; applying the Act prospectively; etc.
Sponsored by: Sen. Delores Kelley
Vetoed By The Governor (duplicative) on 05/24/2019
Spread the world
Maryland 2019 Regular Session
Commercial Law – Credit Card Processors – Merchant Processing Agreements [HB-777]
Prohibiting a credit card processor from assessing or charging a fee, fine, or penalty that exceeds $500 if a business entity cancels a merchant processing agreement in certain circumstances; prohibiting any fee, fine, or penalty if a business entity terminates a merchant processing agreement after the expiration of the initial term; requiring a merchant processing agreement to include certain information; applying the Act prospectively; etc.
Sponsored by: Rep. Talmadge Branch
Approved By The Governor - Chapter 296 on 04/30/2019
Spread the world
Maryland 2016 Regular Session
State Treasurer - Supranational Issuers [SB-1119]
Authorizing the Treasurer to invest or reinvest specified funds in a specified obligation issued and unconditionally guaranteed by a supranational issuer; defining a specified term; etc.
Sponsored by: Sen. James Rosapepe
Approved By The Governor - Chapter 469 on 05/10/2016
Spread the world
Maryland 2016 Regular Session
State Treasurer - Supranational Issuers [HB-1570]
Authorizing the Treasurer to invest or reinvest unexpended or surplus money over which the Treasurer has custody in a specified obligation issued and unconditionally guaranteed by a supranational issuer; defining a specified term; etc.
Sponsored by: Rep. Tawanna Gaines
First Reading House Rules And Executive Nominations on 02/22/2016