Bill > SB43

This bill makes several changes to financial institution regulations in Maryland, primarily focusing on the Maryland Community Investment Venture Fund and assessment credits for banking institutions and credit unions. It extends the deadline for the Commissioner to match investments in the Maryland Community Investment Venture Fund from June 30, 2028, to June 30, 2030, and clarifies that this fund is a special, nonlapsing fund that does not revert to the State's General Fund. The bill also revises the purpose of the Fund to actively promote the development and deployment of financial product innovations that improve access to capital and services for consumers and businesses in low- to moderate-income tracts through investments, grants, and other financial assistance. Additionally, it alters the definition of "branch" and "de novo branch" for both banking institutions and credit unions to align with the calendar year preceding a request for an assessment offset credit, and it introduces new assessment offset credits for banking institutions and credit unions that offer "Maryland Opportunity Accounts," which are transaction accounts designed to promote fair and equal access to financial services. Finally, the bill repeals a $20 examination fee for commercial banks amending their charters and adjusts the date for credit unions to pay their assessments.

Budget and Finance, Business and Industry

Finance (Senate)

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0043?ys=2026RS