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Credit Services Business - Financial Regulation

A Credit Services Business is any business, with respect to the extension of credit by others, that sells, provides, or performs, or represents that such person can or will sell, provide, or perform, certain services in return for the payment of money or other valuable consideration for improving a consumer’s credit record, history, or rating and/or obtaining an extension of credit for a consumer.




Featured Information

Required: Information on Business Activities
Loss Mitigation Consulting, Foreclosure Prevention, Mortgage Loan Modification, and Similar Services Under the Maryland Credit Services Businesses Act (MCSBA) and the Protection of Homeowners in Foreclosure Act (PHIFA) (Word)


Laws and Rules

Applicants and licensees are expected to be knowledgeable about and in compliance with the Credit Services Businesses Act, and any other applicable State or Federal statutes and regulations. Maryland rules and regulations can be found by accessing the Code of Maryland Unannotated and Rules (Public Access) and Code of Maryland Regulations (COMAR).

Note: To access the Maryland Code Annotated, from the link below, select the "Maryland Code" folder, then select the individual folders or links provided to delve into the volumes, chapters, and/or sections of the publication.

Maryland Code Annotated, Commercial Law § 14-1901 et seq. (Maryland Credit Services Businesses Act)