Financial Institutions and Activities - Licensing Requirements and Regulation of Commercial Financing

Summary

The bill adds a new Commercial Financing subtitle to Maryland’s financial‑institution code, requiring non‑bank lenders that offer business loans, equipment financing, factoring or sales‑based financing to be licensed and to disclose costs in a standardized way. It exempts banks, credit unions, very small lenders and certain large or specialized transactions. The aim is to give businesses clearer information about loan terms and protect them from hidden fees.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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