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MarylandSB 02612026 Regular SessionSenate

Maryland Money Transmission Act - Definition of Money Transmitter - Alteration

Sponsored By: Pamela Beidle (Democratic)

Signed by Governor

Financial InstitutionsAgents and BrokersElectronic Funds TransferFinancial Institutions -see also- Banks; Credit Unions; etc.Salaries and Compensation -see also- Overtime; Reimb. Rates

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Payroll processors exempt from transmitter license

Beginning October 1, 2026, some payroll processors do not need a Maryland money transmitter license. To qualify, the processor must be an agent of the payor under a written agreement. The payor must tell employees and other payees that the agent runs payroll for the payor. If the agent fails to send the money, the payor still owes the employee or payee.

Bill-pay and mortgage services licensed

Beginning October 1, 2026, Maryland expands who counts as a money transmitter. Companies that run bill payer or accelerated mortgage payment services must be licensed and follow state rules. This adds compliance costs for those businesses and gives users clearer protections.

Sponsors & Cosponsors

Sponsor

  • Pamela Beidle

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 170 • No: 1

House vote • 4/10/2026

Third Reading Passed

Yes: 129 • No: 1 • Other: 7

Senate vote • 2/19/2026

Third Reading Passed

Yes: 41 • No: 0 • Other: 2

Actions Timeline

  1. Approved by the Governor - Chapter 21

    4/14/2026

  2. Returned Passed

    4/10/2026Senate

  3. Third Reading Passed (129-1)

    4/10/2026House

  4. Second Reading Passed

    4/8/2026House

  5. Motion Special Order until Next Session (Delegate Hornberger) Adopted

    4/8/2026House

  6. Favorable Adopted

    4/8/2026House

  7. Favorable Report by Economic Matters

    4/8/2026House

  8. Hearing 3/24 at 1:00 p.m.

    3/19/2026House

  9. Referred Economic Matters

    2/20/2026House

  10. Third Reading Passed (41-0)

    2/19/2026Senate

  11. Second Reading Passed

    2/17/2026Senate

  12. Favorable Adopted

    2/17/2026Senate

  13. Favorable Report by Finance

    2/16/2026Senate

  14. Hearing 2/05 at 1:00 p.m.

    1/21/2026Senate

  15. First Reading Finance

    1/19/2026Senate

Bill Text

  • Enacted

    4/14/2026

    PDF

  • Third Reading

    2/17/2026

    PDF

  • First Reading

    1/19/2026

    PDF

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