Depository Supervision Unit
The Depository Supervision Unit is responsible for the supervision and examination of all Maryland-chartered banks, credit unions, and trust companies.
Depository Corporate Applications Unit
The Depository Corporate Applications Unit is responsible for the review and processing of all applications
filed by banks, credit unions, and trust companies for new charters, mergers, acquisitions, affiliates,
stock conversions, changes in control, branches, foreign bank offices, field of membership changes, and all
other approvals required under Titles 1 through 6 of Maryland's Financial Intuitions Code.
Non-Depository Supervision/Compliance Unit
The Compliance Unit is responsible for monitoring the business activities of over 10,000 licensees, ensuring
their compliance with State and federal laws and regulations. These licensees provide a myriad of financial
services and products, including consumer purchase financing, personal loans, real estate secured loans,
check cashers, money transmitters, and debt management services.
Consumer Services Unit
The primary function of the Consumer Services Unit is to investigate consumer inquiries and complaints
involving licensed entities in the State of Maryland with a goal of resolving the complaint. Maryland
residents may file a complaint simply by writing a letter detailing the nature of their concern or completing an investigation request form. The complaint may be mailed or hand delivered to our office; e-mailed or sent by facsimile. An examiner will be assigned to the complaint and will forward a copy of the complaint to the licensee for a written response. The examiner will review all the information and render a decision based on Maryland law. The consumer will receive the examiner's outcome of the investigation in writing.
The Enforcement Unit includes eight investigators and it is the investigative branch of the Office of The Commissioner of Financial Regulation. The primary mission of the Enforcement Unit is to provide investigative support to the other units in the Commissioner's Office. The members also conduct independent investigations of potential or alleged regulatory and criminal violations of the statutes over the businesses that are licensed by Financial Regulation.
The Licensing and Consumer Services Unit of the Commissioner's Office is responsible for the licensing of over 10,000 non-depository consumer credit grantors and officers (including about 1,752 mortgage lenders), in order to ensure their compliance with State and federal law. These entities provide mortgages, consumer loans, and retail sales financing, as well as credit reporting, debt collection, debt management, check cashing, and money transmitting services to Maryland consumers.
Maryland Collection Agency Board
The Maryland Collection Agency Licensing Board has statutory responsibility for the licensing of collection agencies operating in Maryland. The Governor, with the consent of the Senate, appoints the four-member board, consisting of two consumer representatives and two industry representatives. The Commissioner serves as Chairman. The Board addresses written complaints, conducts hearings on alleged violations, mediates disputes, and issues orders requiring licensees to correct violations. The Board informs both licensees and the public about abusive debt collection practices.