Consumer Credit Reporting Agencies - Financial Regulation

Last reviewed/updated: December 9, 2024

A Consumer Credit Reporting Agency (or “consumer reporting agency” or “credit reporting agency”) is any business which, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer reports to third parties, and which uses any means or facility of commerce for the purpose of preparing or furnishing consumer reports. 

Registration Requirements

• New Application
• Amendment
• Surrender

Industry Alerts and Advisories

• January 22, 2021 - Credit Reporting Agencies Registration Requirements and Compliance Procedures
• October 21, 2020 - Consumer Reporting Agencies: Surety Bonds and Transition of Registration to NMLS

Laws, Rules, and Regulations

Applicants and registrants are expected to be knowledgeable about and in compliance with the Consumer Credit Reporting Agencies Law, and any other applicable State or Federal statutes, rules, and regulations. Maryland laws, rules, and regulations can be found by accessing the Annotated Code of Maryland and Rules and Code of Maryland Regulations (COMAR).  Certain relevant Maryland laws, rules, and/or regulations include (Note: this is not a comprehensive list):

• Maryland Code, Commercial Law Article, Title 14, Subtitle 12 (Consumer Credit Reporting Agencies)
• COMAR 09.03.07 (Consumer Credit Reporting Agencies)
• When calculating the required surety bond amount in accordance with COMAR 09.03.07.04A, an applicant or registrant should utilize the most recent Maryland population estimate published by the United States Census Bureau. View United States Census Maryland population estimate.