All Roll Calls
Yes: 165 • No: 10
MarylandHB 02592026 Regular SessionHouseWALLET
Financial Institutions - Maryland Community Investment Venture Fund and Regulation of Entities - Revisions
Sponsored By: Sponsor information unavailable
Signed by Governor
Financial InstitutionsAssessments -see also- Property TaxBanks and Trust CompaniesCommunity DevelopmentCredit UnionsCybersecurityEmergencies -see also- PandemicsFees -see also- Attys' Fees; Devt Fees & TaxesFinancial Institutions -see also- Banks; Credit Unions; etc.Financial Regulation, Division ofGrantsInterestInvestments -see also- SecuritiesRevenue and Taxes -see also- (specific tax)Rules and RegulationsStandards and Best PracticesTreasurers
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Bill Overview
Analyzed Economic Effects
7 provisions identified: 4 benefits, 1 costs, 2 mixed.
Cyber attacks count as bank emergencies
Beginning July 1, 2026, a serious cybersecurity incident that forces a bank or branch to close counts as an emergency. This lets officials and banks use emergency closure rules to protect customers and restore service.
Credits for LMI branches and accounts
Starting July 1, 2026, well‑capitalized banks and credit unions can cut their assessments by growing deposits in branches located in low‑ and moderate‑income tracts. New branches in these areas earn $0.12 per $1,000 of deposits for each of the first 5 years; other qualifying branches earn $0.06 per $1,000, up to a cap the Commissioner sets by December 31. Institutions with a composite CAMELS rating of 1–3 that offer a Commissioner‑approved Maryland Opportunity Account get $5,000 at first approval and $3,000 each later year the account stays active. A qualifying branch must be a deposit‑taking office open by December 31, and deposits must be originated and housed at that LMI‑tract branch as of December 31. The Commissioner sets yearly standards for Opportunity Accounts and the deposit‑credit cap.
State venture fund for LMI communities
Beginning July 1, 2026, Maryland creates a Community Investment Venture Fund to help low‑ and moderate‑income areas get loans and financial services. The Fund is special and nonlapsing. The State Treasurer holds and invests it, and interest stays in the Fund. The Commissioner can use up to $250,000 for start‑up and invest up to $2.5 million as equity. From July 1, 2026 through June 30, 2030, the Commissioner may match bank or credit union investments up to their earned assessment credits; after June 30, 2030, no new Commissioner investments are allowed. Returns from investments the Commissioner authorizes go back to the Banking Institution and Credit Union Regulation Fund. The Commissioner sets governance, can create additional private subfunds, issues rules, and must have an independent review each year.
Stop fake bank and credit union names
The law bans using bank‑like or credit union names if you are not authorized to do banking or credit union business in Maryland. Banks can recover actual damages and either all profits from the violation or $1,000 per violation, plus costs and attorney’s fees. Violations are misdemeanors with up to a $3,000 fine or up to 5 years in jail, or both. These protections take effect July 1, 2026.
Small fee changes for charter paperwork
Starting July 1, 2026, the fee for a certificate of valid charter is $50 when someone other than a banking institution requests it. A commercial bank that files a charter amendment for examination must also pay a $20 examination fee.
Who counts as a bank or fiduciary
Effective July 1, 2026, a “banking institution” means a State bank, trust company, or savings bank. A “fiduciary institution” includes national banks, State banks, out‑of‑state banks with Maryland branches, credit unions, supervised Maryland banking organizations, and savings and loans, and excludes persons licensed under Title 11. These definitions set which entities fall under Maryland’s banking and fiduciary rules.
New fees and deadline for credit unions
Effective July 1, 2026, each credit union with at least $300,000 in assets pays an annual assessment of $1,000 plus $0.08 for each $1,000 of assets over $1,000,000. The assessment is based on the most recent financial report. The payment deadline moves to April 15 after the year of the assessment.
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Sponsors & Cosponsors
Sponsors
There is no primary sponsor on record.
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
Senate vote • 4/6/2026
Third Reading Passed
Yes: 45 • No: 0 • Other: 1
House vote • 2/20/2026
Third Reading Passed
Yes: 120 • No: 10 • Other: 11
Actions Timeline
Approved by the Governor - Chapter 131
4/14/2026Returned Passed
4/7/2026HouseThird Reading Passed (45-0)
4/6/2026SenateFavorable Adopted Second Reading Passed
3/31/2026SenateFavorable Report by Finance
3/30/2026SenateReferred Finance
2/23/2026SenateThird Reading Passed (120-10)
2/20/2026HouseFavorable Adopted Second Reading Passed
2/18/2026HouseFavorable Report by Economic Matters
2/17/2026HouseHearing 2/03 at 1:30 p.m.
2/3/2026HouseHearing canceled
2/3/2026HouseHearing 2/03 at 1:00 p.m.
1/19/2026HouseFirst Reading Economic Matters
1/14/2026HousePre-filed
9/30/2025House
Bill Text
Enacted
4/14/2026
Third Reading
2/18/2026
First Reading
1/14/2026
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