Maryland legislation · 2026 Regular Session
Maryland SB784: Financial Institutions - Consumer Credit - Application of Licensing Requirements
Status: Signed into law, April 14, 2026
Repealing a certain provision of law exempting all persons that acquire or are assigned certain mortgages, mortgage loans, or installment loans under certain circumstances from certain provisions of law governing the licensing of providers of certain financial services in the State.
What the bill says
An act concerning Financial Institutions - Consumer Credit - Application of Licensing Requirements FOR the purpose of repealing a certain provision of law exempting all persons that acquire or are assigned certain mortgages, mortgage loans, or installment loans under certain circumstances from certain provisions of law governing the licensing of providers of certain financial services in the State; and generally relating to consumer credit lending licensing requirements…
From the enrolled text, April 21, 2026:
AN ACT concerning Financial Institutions - Consumer Credit - Application of Licensing Requirements FOR the purpose of repealing a certain provision of law exempting all persons that acquire or are assigned certain mortgages, mortgage loans, or installment loans under certain circumstances from certain provisions of law governing the licensing of providers of certain financial services in the State; and generally relating to consumer credit lending licensing requirements. BY repealing Article - Financial Institutions Section 11-102 Annotated Code of Maryland (2020 Replacement Volume and 2025 Supplement) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Laws of Maryland read as follows: Article - Financial Institutions [11-102. (a) In this section, "installment loan" has the meaning stated in § 11-301 of this title. (b) Except for § 11-219 of this title, this title does not apply to a person that acquires or is assigned in whole or in (2) A mortgage loan, as defined in § 11-501 of this title, if the person does not otherwise engage in the mortgage lending business, as defined in § 11-501 of this title; or (3) An installment loan, if the person: (i) Relies on another person to service or collect on the installment loan; and (ii) Does not otherwise make installment loans. Ch. 40 2026 LAWS OF MARYLAND (c) This section …
Sponsors
- Michael Jackson (D, SD-027) · primary sponsor
Latest actions
- : Approved by the Governor - Chapter 40
- : Returned Passed
- : Third Reading Passed (131-1)
- : Favorable Adopted Second Reading Passed
- : Favorable Report by Economic Matters
- : Hearing 3/24 at 1:00 p.m.
- : Referred Economic Matters
- : Third Reading Passed (45-0)
- : Second Reading Passed
- : Favorable Adopted
Votes
- Third Reading Passed (131-1) (April 2, 2026): 131 yea, 1 nay, passed
- Third Reading Passed (45-0) (March 12, 2026): 45 yea, 0 nay, passed
Common questions
- What is SB784?
- SB784 is a bill in the Maryland Legislature (2026 Regular Session): Financial Institutions - Consumer Credit - Application of Licensing Requirements.
- What does SB784 do?
- In its own words: An act concerning Financial Institutions - Consumer Credit - Application of Licensing Requirements FOR the purpose of repealing a certain provision of law exempting all persons that acquire or are assigned certain mortgages, mortgage loans, or installment loans under certain circumstances from certain provisions of law governing the licensing of providers of certain financial services in the State; and generally relating to consumer credit lending licensing requirements…
- What is the status of SB784?
- Signed into law as of April 14, 2026. Latest action: Approved by the Governor - Chapter 40 (April 14, 2026).
- Who sponsored SB784?
- Michael Jackson (D, SD-027).
- Where is the official record for SB784?
- On the Maryland Legislature website: https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/sb0784?ys=2026RS
Source: official Maryland record. Tracked by Delilah, AI for legislation across all 50 states and Congress.