50-State Financial Services Licensing Compliance Guide
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Maryland Finance Licensing

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Licenses are typically required for individuals and businesses that provide finance industry services in the United States. This guide contains information about professional finance licensing in Maryland.

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Company Licenses

Maryland Financial Services Company Licenses

Maryland Check Casher Registration

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$0

Registration Renewal

Filing Method:

Online

Agency Fee:

$0

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Check Cashing Services License

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$500 license/registration fee + $100 application fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$400

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by December 17.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Collection Agency Branch License

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Bond Requirements:

$5,000 electronic surety bond for each branch location.

Initial Registration

Filing Method:

Online through NMLS

Agency Fee:

$350

Registration Renewal

Filing Method:

Online through NMLS

Agency Fee:

$350

Due:

Annually by December 31.

Amendment

Filing Method:

Online through NMLS

Agency Fee:

$0

Notes:

Changes to a branch office address, branch manager, or trade name can be made online.

Maryland Collection Agency License

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Bond Requirements:

$5,000 electronic surety bond.

Registered Agent (Special Agency) Required?Yes

Initial Registration

Filing Method:

Online through NMLS

Agency Fee:

$350

Registration Renewal

Filing Method:

Online through NMLS

Agency Fee:

$350

Due:

Annually by December 31.

Amendment

Filing Method:

Online through NMLS

Agency Fee:

$0

Notes:

Changes to the name, address, or other entity information can be made online.

Maryland Consumer Loan License

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$850 license/registration fee + $100 application fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$750

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by December 17.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Consumer Reporting Agency Registration

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$0

Registration Renewal

Filing Method:

Online

Agency Fee:

$0

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Credit Services Business License

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$850 license/registration fee + $100 application fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$750

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by December 17.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Debt Management Services License

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$1000 application fee + $500 minimum license/registration fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$400

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by December 17.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Debt Settlement Services Provider Registration

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$400 license/registration fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$0

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by December 17.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Exempt Collection Agency Registration

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$0

Registration Renewal

Filing Method:

Online

Agency Fee:

$0

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Exempt Mortgage Lender Company Registration

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$100 NMLS processing fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$0

Due:

  • Annually by December 31.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Installment Loan License

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$850 license/registration fee + $100 application fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$750

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by December 17.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Money Transmitter License

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$100 + $2000 license/registration fee + $1000 application fee + $15 credit report fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$2,000

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by December 17.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Mortgage Lender License

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$100 + $1000 license/registration fee + $1 application fee + $15 credit report fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$1,000

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by December 17.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Sales Finance License

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$125 license/registration fee + $100 application fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$25

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by December 17.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Student Financing Company License

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$0

Registration Renewal

Filing Method:

Online

Agency Fee:

$0

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

Individual Licenses

Maryland Individual Financial Services Licenses

Maryland Affiliated Insurance Producers-Mortgage Loan Originator License

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$30 + $700 license fee + $1 investigation fee + $15 credit report fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$700

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

Maryland Mortgage Originator License

Agency:Maryland Department of Labor, Licensing and Regulation - Office of the Commissioner of Financial Regulation

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$30 + $225 license/registration fee + $1 investigation fee + $15 credit report fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$225

Due:

  • Annually by December 31.
  • Licenses issued in November or December remain valid through the next renewal period.

Explore licensing in other states:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho
Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri
Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania
Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
Revised April 19, 2024. Complete data last reviewed January 08, 2019.
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