Maryland
What is the statute citation for Maryland?
For Maryland, statute citation is Md. Commercial Law §§ 12-1501 through 12-1507 (Ch. 847, HB 1294, 2025); effective date is October 1, 2025; product classification is earned wage access is a loan subject to the Maryland Consumer Loan Law; not money transmission; licensing requirement is consumer loan license required under Title 11, Subtitle 2 of the Financial Institutions Article; fee caps is $5.00 for any advance of proceeds equal to or less than $75.00; $7.50 for any advance of proceeds greater than $75.00, recorded from its source on 2026-08-18.
subjecting certain earned wage access products to the Maryland Consumer Loan Law and other provisions that regulate entities that provide consumer credit, revolving credit, and closed end credit
— mgaleg.maryland.gov, retrieved 2026-08-18
- state
- Maryland verified
- statute citation
- Md. Commercial Law §§ 12-1501 through 12-1507 (Ch. 847, HB 1294, 2025) our reading
- effective date
- October 1, 2025
- product classification
- earned wage access is a loan subject to the Maryland Consumer Loan Law; not money transmission
- licensing requirement
- consumer loan license required under Title 11, Subtitle 2 of the Financial Institutions Article
- fee caps
- $5.00 for any advance of proceeds equal to or less than $75.00; $7.50 for any advance of proceeds greater than $75.00
- free option required
- yes — provider shall offer a reasonable option to obtain earned wage access at no cost
Values marked our reading are our classification of what the source says — the source does not print them in those words. The quote below is the evidence for each one; judge it yourself.
Source
- mgaleg.maryland.govhttps://mgaleg.maryland.gov/2025RS/chapters_noln/Ch_847_hb1294T.pdf