All Roll Calls
Yes: 176 • No: 1
MarylandSB 07842026 Regular SessionSenateWALLET
Financial Institutions - Consumer Credit - Application of Licensing Requirements
Sponsored By: Carl Jackson (Democratic)
Signed by Governor
Financial InstitutionsApplicants and ApplicationsCreditFinancial Institutions -see also- Banks; Credit Unions; etc.Licenses -see also- AB Lic; Certifications; DrLic; PermitsLoans -see also- Credit; Mortgages; Scholarships&SFAMortgages
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
New licensing rules for loan buyers
Beginning July 1, 2026, companies that buy or are assigned mortgages or installment loans must follow Maryland licensing rules unless they meet narrow exemptions. Mortgage or mortgage loan buyers are exempt only if they do not also make mortgages or engage in the mortgage lending business. Buyers of installment loans are exempt only if another company services or collects the loan and they do not make installment loans. The law does not change the definition of “student loan servicer.”
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Sponsors & Cosponsors
Sponsor
Carl Jackson
Democratic • Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 4/2/2026
Third Reading Passed
Yes: 131 • No: 1 • Other: 10
Senate vote • 3/12/2026
Third Reading Passed
Yes: 45 • No: 0 • Other: 2
Actions Timeline
Approved by the Governor - Chapter 40
4/14/2026Returned Passed
4/3/2026SenateThird Reading Passed (131-1)
4/2/2026HouseFavorable Adopted Second Reading Passed
4/1/2026HouseFavorable Report by Economic Matters
4/1/2026HouseHearing 3/24 at 1:00 p.m.
3/16/2026HouseReferred Economic Matters
3/13/2026HouseThird Reading Passed (45-0)
3/12/2026SenateSecond Reading Passed
3/10/2026SenateFavorable Adopted
3/10/2026SenateFavorable Report by Finance
3/9/2026SenateHearing 2/26 at 1:00 p.m.
2/11/2026SenateFirst Reading Finance
2/6/2026Senate
Bill Text
Enacted
4/14/2026
Third Reading
3/10/2026
First Reading
2/6/2026
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