HB 250

Enacted

Financial Institutions - Third-Party Service Providers - Examinations

Sponsor: Chair, Economic Matters CommitteeCommittee: Economic MattersSubject: Financial InstitutionsStatus: Approved by the Governor - Chapter 422 (as of Nov 13, 2024)

What this bill does

Official synopsis

Authorizing the Commissioner of Financial Regulation to examine a third-party service provider as to services and activities performed on behalf of an entity licensed or chartered by the Office of Financial Regulation; requiring the Commissioner to notify a certain licensed person of any examination of any third-party service provider who performs activities relating to financial services on behalf of the licensed person; authorizing the Commissioner to accept the results of an examination by certain entities; etc.

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Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.

Testimony (15)

MGA witness list

FAV 10FavorableFWA 4Favorable with amendmentsUNF 1Unfavorable

Position	Witness	Organization	Testimony
FAV	Pfaff, Mary	Conference of State Bank Supervisors	Written (PDF)
FAV	White, Marcelinelobbyist	Economic Action Maryland	Written (PDF)
FAV	White, Marcelinelobbyist	Economic Action Maryland	Written (PDF)
FAV	Salazar, Antonio	Office of the Commissioner of Financial Regulation	Oral
FAV	Salazar, Antonio	Office of the Commissioner of Financial Regulation	Oral
FAV	Hennen, Amy	Office of the Commissioner of Financial Regulation, Department of Labor	Oral + Written (PDF)
FAV	Hennen, Amy	Office of the Commissioner of Financial Regulation, Department of Labor	Written (PDF)
FAV	Chair, Economic Matters Committee, Chair, Economic Matters Committee	Individual	Oral
FAV	Chair, Economic Matters Committee, Chair, Economic Matters Committee	Individual	Oral
FAV	Mauer, William	Individual	Position only
UNF	Reid, David	Individual	Written (PDF)
FWA	Fulginiti, Andrew	MD Dept. of Labor	Written (PDF)
FWA	Yeager, Bob	MD Office of Financial Regulation (OFR)	Oral
FWA	Richards, Evanlobbyist	Maryland Bankers Association	Written (PDF)
FWA	Enten, Robert	Maryland Multi-Housing Assoc	Oral

Organizations on record

Conference of State Bank SupervisorsFAV 1

Economic Action MarylandFAV 2

Maryland Bankers AssociationFWA 1

Maryland Multi-Housing AssocFWA 1

MD Dept. of LaborFWA 1

MD Office of Financial Regulation (OFR)FWA 1

Office of the Commissioner of Financial RegulationFAV 2

Office of the Commissioner of Financial Regulation, Department of LaborFAV 2

Registered lobbyists who testified

FAVWhite, MarcelineEconomic Action MarylandRegistered for: Maryland Consumer Rights Coalition DBA Economic Action Maryland; Maryland Consumer Rights Coalition

FWARichards, EvanMaryland Bankers AssociationRegistered for: Maryland Bankers Association