About the Acting Commissioner of Financial Regulation

Michael Sprouse, Acting Commissioner of Financial Regulation

Michael Sprouse serves as Acting Commissioner of Financial Regulation in addition to serving as the Deputy Commissioner for Depository Activities, where he oversees the supervision and regulation of Maryland state-chartered banks, credit unions, and trust companies.

As Acting Commissioner, Mr. Sprouse is responsible for the Office of Financial Regulation which is Maryland’s consumer financial protection agency and financial regulator. The Office is responsible for the supervision of all of Maryland's state-chartered banks, credit unions, and trust companies and over 17,000 non-depository licensees and registrants, including mortgage lenders, brokers, servicers and originators, money transmitters, check cashers, debt management services providers, debt settlement services providers, consumer lenders, sales finance companies, installment loan companies, credit service businesses, collection agencies, mobile home retailers, and consumer credit reporting agencies.

Before joining OFR in 2023, Michael spent more than 30 years in Maryland’s banking industry. He served as Chief Retail Banking Officer at The Peoples Bank in Chestertown and Senior Vice President of Loan Administration and Consumer Lending at Harford Bank. Throughout his career, he has led initiatives focused on lending, loan administration, risk management, operational efficiency, compliance, personnel management, and strategic growth.

Michael earned a Bachelor of Science in Economics from Towson University and is a graduate of the American Bankers Association Stonier Graduate School of Banking, which included leadership training through the Wharton School of Business. He also completed the Harford County Leadership Academy and the Maryland Bankers Association Emerging Leader Program.

Michael began his tenure as Acting Commissioner on November 1, 2026.