Consumer Lender - Financial Regulation
A Consumer Lender is a business that provides any loan or advance of money or credit in the original amount or value not exceeding $25,000.
If you intend to conduct consumer lending services in the State of Maryland, a consumer loan license may be required.
- New Applicants - ALL new license applicants MUST initiate applications through the NMLS. Proceed to NMLS.
Please note new license requests must be submitted through the NMLS, but supporting documentation must be sent to the Maryland Office of the Commissioner of Financial Regulation.
- Renewing Licensees - You must renew your license on the NMLS during the renewal period – November 1st through December 31st. Proceed to NMLS. Please note renewal requests must be submitted through the NMLS, but supporting documentation must be sent to the Maryland Office of the Commissioner of Financial Regulation.
- Print a Copy of Your License
- Application and Licensing Fees
Required: Information on Business Activities
License Term: two (2) years
Unlicensed Consumer Loan and Prohibited "Payday" Loan Collection Activity (Word)
Laws and Rules
Applicants and licensees are expected to be knowledgeable about and in compliance with the Consumer Loan law, and any other applicable State or Federal statutes and regulations. Maryland rules and regulations can be found by accessing the Annotated Code of Maryland and Rules and Code of Maryland Regulations (COMAR).
Note: To access the Maryland Code Annotated, from the link below, select the "Maryland Code" folder, then select the individual folders or links provided to delve into the volumes, chapters, and/or sections of the publication.
Maryland Code Annotated, Commercial Law § 12-301 et seq. (Consumer Loan Law)
Maryland Code Annotated, Financial Institutions § 11-201 et seq. (Consumer Loan Licensing Provisions)
COMAR 09.03.02 General Regulations
COMAR 09.03.10 Credit and Other Regulation