Personal loans in Maryland
Consumer lending in Maryland is regulated by the Maryland Department of Labor, Office of Financial Regulation. Below are the sourced rules that affect what a lender can charge you, followed by the cities we cover.
Lending rules in Maryland
| Payday lending | No specific payday lending statute; lenders must comply with the state's interest-rate cap on consumer loans, which effectively bars high-cost payday lending. NCSL lists this jurisdiction among those with no specific payday lending statute and/or an applicable consumer-loan rate cap.Source: National Conference of State Legislatures · as of 2023 |
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| Small-loan / installment licensing | Consumer lenders must obtain a state license (Yes). Statutory basis: Md. Code Ann., Com. Law §§ 12-101 et seq.; §§ 12-301 et seq.; §§ 12-901 et seq.; §§ 12-1001 et seq. Licensing administered through NMLS: Yes.Source: Conference of State Bank Supervisors · as of 2026 |
| Interest rate cap (usury limit) | Usury limit: 6% (Md. Const. art. III, § 57); 8% for written agreements (Md. Commercial Law Code Ann. § 12-103). Finance rates and fees for licensed lenders: Consumer Loan: On a loan of $2,000 or less: 2.75% per month on the portion not exceeding $1,000 2% per month on the remainder On a loan of more than $2,000: 2% per month All other loans: 24% per annum. CSBS 50-state survey of consumer finance laws; state-verified usury catalog.Source: Conference of State Bank Supervisors · as of 2026 |
| Consumer lending regulator | Consumer lenders in Maryland are licensed and supervised by the Maryland Department of Labor, Office of Financial Regulation.Source: Conference of State Bank Supervisors · as of 2026 |
| Debt collection rules | Third-party debt collectors must comply with the federal Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. § 1692 et seq.; state consumer-protection and debt-collection enforcement is handled by the Maryland Office of the Attorney General. The FDCPA expressly authorizes state attorneys general to enforce it (15 U.S.C. § 1692l). Some states also require collection agencies to be licensed.Source: Maryland Office of the Attorney General · as of 2026 |
| Military lending protections | The federal Military Lending Act (MLA) caps the Military Annual Percentage Rate (MAPR) at 36% for consumer credit extended to active-duty service members, their spouses and certain dependents, and bars mandatory arbitration and prepayment penalties on covered loans. Federal protection that applies nationwide, including in this state.Source: Consumer Financial Protection Bureau · as of 2024 |
| Complaint / licensing lookup | Check whether a lender holds a state license through NMLS Consumer Access (nmlsconsumeraccess.org) or the Maryland Department of Labor, Office of Financial Regulation; consumers can file complaints with the Maryland Department of Labor, Office of Financial Regulation or the CFPB at consumerfinance.gov/complaint.Source: Nationwide Multistate Licensing System (NMLS) Consumer Access · as of 2026 |
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Cities in Maryland
BaltimoreBel Air SouthHagerstownFrederickWaldorfSalisburyColumbiaGermantownSilver SpringEllicott CityEldersburgGlen BurnieGaithersburgRockvilleDundalkBethesdaTowsonBowieSevernAspen HillWheatonNorth BethesdaPotomacOdentonCatonsvilleWoodlawnEssexAnnapolisClintonSeverna ParkChillumOlneyRandallstownOwings MillsCollege ParkMontgomery VillagePikesvillePasadenaBel Air NorthParkvilleMilford MillMiddle RiverCarneyCroftonLaurelPerry HallSouth LaurelReisterstownIlchesterClarksburgLochearnSuitlandFort WashingtonFairlandArnoldEdgewoodGreenbeltLandoverNorth PotomacNorth LaurelElkridgeCockeysvilleBallenger CreekCamp SpringsHyattsvilleLangley ParkRosedaleWestminsterArbutusSeabrookLake ShoreCumberlandBeltsvilleOxon HillParoleMaryland CityRedlandCalvertonTakoma ParkGlassmanorEast RiverdaleFerndaleHillcrest HeightsAdelphiDamascusEastonCloverlyAberdeenSummerfieldGlenmontElktonRossvilleBrooklyn ParkGlenn DaleWhite OakHavre de GraceKemp MillBensvilleColesvilleLake ArborFlower HillCaliforniaKetteringNew CarrolltonAnnapolis NeckCambridgeGreen ValleyJoppatowneOverleaUrbanaBrock HallLexington ParkMays ChapelOcean PinesAccokeekHoneygoMitchellvilleRiviera BeachLargoRosaryvilleLanhamFort MeadeTimoniumTravilahLinganoreBel AirScaggsvilleWalker MillWestphaliaForestvilleJessupBurtonsvilleLinthicumHalfwayFriendlyMarltonLa PlataChevy ChaseBrandywineMarlboro VillageGarrisonFallstonWhite MarshMount AiryBladensburgChesapeake Ranch EstatesLansdowneLeisure WorldCoral HillsEdgewaterTemple HillsEdgemereNorth KensingtonCape St. ClaireSouth KensingtonBryans RoadStevensvilleMount RainierMayoFour CornersSavageRobinwoodBrunswickBaltimore HighlandsFairwoodRiverdale ParkFrostburgTaneytownForest GlenOcean CityWildewoodLuthervilleDarnestownBowleys QuartersGlenardenChesapeake BeachHampsteadThurmontAshton-Sandy SpringRiversideCheverlyWalkersvilleFountainhead-Orchard HillsDistrict HeightsMarlow HeightsSpring RidgeSilver HillPoolesvilleCresaptownChestertownFruitlandManchesterAbingdonPeppermill VillageWest Ocean CityFultonLayhillHamptonSpringdaleBerlinMiddletownHillandaleShady SideWoodmoreNaval AcademyDentonDealeKingsvilleCentrevilleWest LaurelFriendship Heights VillageSeat PleasantRivaLeonardtownPerryvilleLa ValeChesterNational HarborPocomoke CitySykesvilleBurnt MillsPleasant HillsCapitol HeightsSt. JamesNorth EastMelwoodIndian HeadBrookmontBrentwoodMarlboro MeadowsBoonsboroGolden BeachDelmarBrown StationAndrews AFBPrincess AnneGrasonvilleBerwyn HeightsGambrillsHuntingtownDrum PointSmithsburgBraddock HeightsAberdeen Proving GroundParamount-Long MeadowFederalsburgEmmitsburgPerrymanCroomJarrettsvilleRising SunUniversity ParkForest HeightsNorth BeachHerald HarborGreensboroJeffersonMaugansvilleCrisfieldHughesvilleLusbySnow HillMyersvilleOwingsPrince FrederickKensingtonCabin JohnMonroviaDunkirkPoint of RocksSolomonsHurlockKonterraAdamstownOaklandBartonsvilleCedar HeightsLong BeachMountain Lake ParkLandover HillsWilson-ConococheaguePittsvilleWilliamsportQueenslandRidgelyChevy Chase VillageMechanicsvilleBadenCharlestownWesternportKingstownDerwoodRomancokeHancockNew MarketEdmonstonColmar ManorSpencervilleSt. MichaelsFairmount HeightsCharlotte HallRock HallBuckeystownArden on the SevernCallawayQueen AnneBowling GreenCrownsvilleGalesvilleNew WindsorCobb IslandTen Mile CreekWoodsboroLonaconingKeedysvilleChurch HillMorningsidePotomac HeightsHebronWillardsChevy Chase ViewTrappeCottage CityMount VernonMartin's AdditionsSomersetHighlandAlgonquin
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