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Bills/2025 Regular Session

HB 693

Did not advanceCrossfile SB 754
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Commercial Financing - Small Business Truth in Lending Act

Sponsor: David Fraser-Hidalgo (District 15)Committee: Economic MattersSubject: Financial InstitutionsStatus: Special Order until 04/07 (Delegate Crosby) Adopted (as of Dec 1, 2025)

What this bill does

Official synopsis

Regulating commercial financing transactions, including by establishing requirements related to certain disclosures, calculations of annual percentage rates, terms of repayments, and other related items, and the extension of specific offers.

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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 (0)

MGA witness list
FAV 16FavorableFWA 3Favorable with amendmentsUNF 9UnfavorableINFO 1Information only
PositionWitnessOrganizationTestimony
FAVMiller, JoshuaAccion Opportunity FundOral
FAVMoore, TonaeyalobbyistCASH Campaign of MarylandWritten (PDF)
FAVWhite, MarcelinelobbyistEconomic Action MarylandWritten (PDF)
FAVJackson, CandacéGreater Baltimore Urban LeagueOral
FAVRichards, EvanlobbyistMaryland Bankers AssociationWritten (PDF)
FAVEnten, robertMaryland Building Industry AssocOral
FAVlocklair, caileylobbyistMaryland Retailers AssociationOral
FAVCaditz-Peck, LouisNational Community Reinvestment CoalitionOral + Written (PDF)
FAVWolters, LaurenNational Community Reinvestment Coalition (NCRC)Oral
FAVKing, LeviNavOral + Written (PDF)
FAVCaditz-Peck, LouisResponsible Business Lending CoalitionOral
FAVCollins, KaridaIndividualOral
FAVDelegate Fraser-Hidalgo, Delegate Fraser-HidalgolegislatorIndividualOral
FAVFraser-Hidalgo, DavidIndividualOral + Written (PDF)
FAVMauer, WilliamIndividualPosition only
FAVWeaver, EricIndividualOral
UNFFisher, KatherinelobbyistCommercial Finance CoalitionOral + Written (PDF)
UNFHebert, ClaireElectronic Transactions AssociationWritten (PDF)
UNFGrimm, ChrisInnovative Lending Platform AssociationOral + Written (PDF)
UNFPappas, NatalieRapid Financial Services, LLC ("Rapid Finance")Oral + Written (PDF)
UNFGibbons, DeveronRevenue Based Finance CoalitionOral
UNFBoston, FrankIndividualOral
UNFSybert, ChristineIndividualPosition only
UNFWilliams, PeggyIndividualPosition only
UNFWilliams, PeggyIndividualPosition only
FWASakata, MichaelMTBMAWritten (PDF)
FWARobinson, JamieRobinson Client Services Group, Inc.Oral
FWAHanz, PatriciaTruck and Engine Manufacturers AssociationWritten (PDF)
INFOHennen, AmyOffice of Financial Regulation, Maryland Department of LaborWritten (PDF)

Organizations on record

Accion Opportunity FundFAV 1
CASH Campaign of MarylandFAV 1
Commercial Finance CoalitionUNF 1
Economic Action MarylandFAV 1
Electronic Transactions AssociationUNF 1
Greater Baltimore Urban LeagueFAV 1
Innovative Lending Platform AssociationUNF 1
Maryland Bankers AssociationFAV 1
Maryland Building Industry AssocFAV 1
Maryland Retailers AssociationFAV 1
MTBMAFWA 1
National Community Reinvestment CoalitionFAV 1
National Community Reinvestment Coalition (NCRC)FAV 1
NavFAV 1
Office of Financial Regulation, Maryland Department of LaborINFO 1
Rapid Financial Services, LLC ("Rapid Finance")UNF 1
Responsible Business Lending CoalitionFAV 1
Revenue Based Finance CoalitionUNF 1
Robinson Client Services Group, Inc.FWA 1
Truck and Engine Manufacturers AssociationFWA 1

Registered lobbyists who testified

FAVMoore, TonaeyaCASH Campaign of MarylandRegistered for: CASH Campaign of Maryland
FAVWhite, MarcelineEconomic Action MarylandRegistered for: Maryland Consumer Rights Coalition DBA Economic Action Maryland; Maryland Consumer Rights Coalition
FAVRichards, EvanMaryland Bankers AssociationRegistered for: Maryland Bankers Association
FAVlocklair, caileyMaryland Retailers AssociationRegistered for: HPSO Investments LLC, T/A Riverboat on the Potomac; Maryland Retailers Alliance; Maryland Retailers Association
UNFFisher, KatherineCommercial Finance CoalitionRegistered for: Revenue-Based Finance Coalition