Regulated Financial Services Industries and Activities - Financial Regulation
Industries and Activities Regulated by the OfficeThis list is not exhaustive and is provided for informational purposes only. See the Industry Resources section for details about the industries and activities regulated by the Office.
- Banks, Trust Companies, and Credit Unions chartered in Maryland (see NOTE below)
- Check Cashing
- Consumer Credit Reporting
- Consumer Loan Lending, including Personal Loans and “Payday” Loans
- Credit Card Merchant Processing Agreements (for small businesses)
- Credit Service Businesses, including Credit Repair Services and Consumer Loan Brokering
- Debt Collection
- Debt Management Services
- Debt Settlement Services
- Foreclosure Consultants, Loss Mitigation, and Mortgage Assistance Relief Services
- Foreclosure Procedures for Residential Property, including certain Notices and Registrations
- Installment Loan Lending
- Mobile Home Retailers
- Money Transmission, including transmission of virtual currency
- Mortgage Brokering
- Mortgage Lending
- Mortgage Loan Origination
- Mortgage Servicing
- Sales Financing
- Student Loan Servicing
- Vehicle Loan Lending including Title Loans, and Vehicle Leasing Contracts
NOTE: Banks and Credit Unions that are federally-chartered, or chartered in states other than Maryland, are generally not directly regulated by the Commissioner. However, certain activity by non-Maryland chartered banks and credit unions may be subject to the Commissioner’s jurisdiction, such as activity in violation of the general consumer protections provided for in Maryland’s consumer lending and mortgage statutes. Additionally, certain banks and credit unions chartered in states other than Maryland may need to maintain a license to make installment loans, make or broker mortgage loans, or service mortgage loans.
Search for a Regulated Financial Services Provider to see details about a financial service business, including whether it is licensed, registered, or chartered in Maryland.
Other Financial Service Regulatory Agencies
The United States has a “dual-banking system”, which means that some financial service providers are primarily regulated by federal agencies under federal law, other providers are primarily regulated by state supervisory agencies under state law, and some are subject to joint supervisory jurisdiction. States also have authority to supervise the activities of federally-regulated financial service providers, or financial service providers regulated by another state, to ensure that those providers are complying with the relevant laws for the states in which they are operating. Visit the websites for the agencies below to learn about their specific regulatory authorities.
- Office of the Comptroller of the Currency
- Federal Reserve Board of Governors
- Federal Deposit Insurance Corporation
The Federal Financial Institutions Examination Council search tool can help identify a bank’s primary federal regulator.
Other Financial Services, Banks and Credit Unions
Other States and U.S. Territories
The Conference of State Bank Supervisors has a directory of State Bank Agency Contacts on its website.