PRIA Logo™
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

Your PRIA Score

Score Hidden

Personalized for You

How does this bill affect your finances?

Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.

Free to start

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.”

Sponsors & Cosponsors

Sponsor

  • Carl Jackson

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 176 • No: 1

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

  1. Approved by the Governor - Chapter 40

    4/14/2026

  2. Returned Passed

    4/3/2026Senate

  3. Third Reading Passed (131-1)

    4/2/2026House

  4. Favorable Adopted Second Reading Passed

    4/1/2026House

  5. Favorable Report by Economic Matters

    4/1/2026House

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

    3/16/2026House

  7. Referred Economic Matters

    3/13/2026House

  8. Third Reading Passed (45-0)

    3/12/2026Senate

  9. Second Reading Passed

    3/10/2026Senate

  10. Favorable Adopted

    3/10/2026Senate

  11. Favorable Report by Finance

    3/9/2026Senate

  12. Hearing 2/26 at 1:00 p.m.

    2/11/2026Senate

  13. First Reading Finance

    2/6/2026Senate

Bill Text

  • Enacted

    4/14/2026

    PDF

  • Third Reading

    3/10/2026

    PDF

  • First Reading

    2/6/2026

    PDF

Related Bills

Back to State Legislation