Who requires it
Maryland Commissioner of Financial Regulation — Credit services businesses
License & permit · Maryland
Maryland Credit Services Business Bond
Maryland credit services businesses—firms that, for a fee, help consumers improve credit records or obtain extensions of credit—must be licensed and bonded. Commercial Law § 14-1908 requires a surety under Financial Institutions Article Title 11, Subtitle 3. Subtitle 3 licenses are processed under Subtitle 2 rules, including the § 11-206 surety of $50,000 to $200,000 set by the Commissioner of Financial Regulation. Confirm the amount currently shown on the Credit Services Business NMLS checklist for your company.
Common bond amount
$50,000–$200,000
Commissioner-determined under Fin. Inst. § 11-206 via Com. Law § 14-1908 and Fin. Inst. § 11-304; confirm the current NMLS amount for your license.
How you file
File electronically through NMLS with the Commissioner of Financial Regulation
Renewal
Stays in force while licensed; 90-day cancel notice; claims can be filed for three years after cancel or license end; follow NMLS license items
Who requires it
Persons acting as a credit services business as defined in Commercial Law § 14-1901 who must hold a Credit Services Business license from the Commissioner. Banks and other entities exempt under Fin. Inst. § 11-302 or § 14-1901 are outside this guide. Mortgage-only activity licensed solely as a mortgage lender follows the § 11-508 mortgage bond instead.
How much is required
Section 11-206(d) sets a Commissioner-determined amount of not less than $50,000 and not more than $200,000, considering volume, financial condition, operations, management, control persons, and related factors. Older paper checklists that listed $12,000 per company are not the current statutory band. Use the amount the Commissioner / NMLS license items require within the $50,000–$200,000 range.
How to get and file it
Start the Credit Services Business license in NMLS, note the surety amount on the Maryland checklist or license items, authorize your surety for electronic filing, and deliver a continuous bond to the Commissioner in the licensed legal name for that amount. Keep the bond in force while licensed. Section 11-206 uses the same 90-day cancellation and three-year claim window as other modernized Office of Financial Regulation sureties. If a claim reduces the bond, restore it to the required amount, and update the amount if the Commissioner orders a different figure inside the statutory range.
Cost note
Fifty thousand to two hundred thousand dollars is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Triggering statute
- Commercial Law § 14-1908 (surety pursuant to Fin. Inst. Title 11, Subtitle 3)
- Amount statute
- Fin. Inst. § 11-206(d): $50,000–$200,000 as determined by the Commissioner
- Licensing path
- Fin. Inst. § 11-304 applies Subtitle 2 procedures to Subtitle 3 licenses
- Filing
- NMLS Credit Services Business license process
- Stale figures
- Archived $12,000 checklist amounts are not the current statutory band
Official sources
Frequently asked questions
Is the Maryland credit services bond a flat $50,000?
Fifty thousand dollars is the statutory minimum under § 11-206, not a guarantee that every licensee posts exactly that amount. The Commissioner may require any amount up to $200,000. Check your NMLS license items for the figure that applies to you.
Does a mortgage lender license replace this bond?
Not for credit services activity that requires a Credit Services Business license. Firms that only need a mortgage lender license follow Fin. Inst. § 11-508. If you hold both credentials, satisfy each license’s bonding rules.
Related Maryland bond guides
Collection Agency Bond
$50,000
Maryland collection agencies licensed by the State Collection Agency Licensing Board must file a continuous surety bond under Business Regulation Article § 7-304. The statute lets the Board set each licensee’s amount anywhere from $50,000 to $1,000,000. The Board’s November 2024 guidance states that every licensee must carry $50,000—while reserving the right to require more later.
Mortgage Lender Bond
$50,000–$750,000
Maryland licenses mortgage brokers, lenders, and servicers under a single mortgage lender framework administered by the Commissioner of Financial Regulation. Financial Institutions Article § 11-508 requires a continuous surety running to the Commissioner—between $50,000 and $750,000—for the benefit of the State and borrowers harmed by licensing-law violations. The Office of Financial Regulation publishes Maryland-only volume tiers for brokering/lending and for servicing portfolios; when both apply, the higher amount controls.
Money Transmitter Bond
$150,000–$2,000,000
Maryland money transmitters licensed under the Maryland Money Transmission Act must maintain a surety device with the Commissioner of Financial Regulation. Financial Institutions Article § 12-412 sets the amount at the greater of $150,000 or 100% of the firm’s average daily money transmission liability in Maryland for the most recently completed calendar quarter, not to exceed $2,000,000. A qualifying deposit can substitute for the surety bond.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Maryland application
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Last verified 2026-08-11. This guide is based on verified educational content and official sources.
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