Appointed by Governor: Robin Barnes Shell; Rodney H. Staatz.
Appointed by Senate President: Joanne C. Benson; James C. Rosapepe.
Appointed by House Speaker: Susan L. M. Aumann; C. William Frick.
Appointed by Senate President & House Speaker: Anne M. Balcer; Eric S. Friedman; Mark A. Kaufman; Karren J. Pope-Onwukwe.
Ex officio: Brian E. Frosh, Attorney General; Antonio P. Salazar, Esq., Commissioner of Financial Regulation.
Staff: Tamela D. Burt; Sally M. Guy; Eric F. Pierce.
Legislative Services Building (from College Ave.), 90 State Circle, Annapolis, Maryland, January 2018. Photo by Diane F. Evartt
Report to Governor & General Assembly due Dec. 31, 2018 (Chapters 18 & 781, Acts of 2017).
In June 2017, the Maryland Financial Consumer Protection Commission formed (Chapters 18 & 781, Acts of 2017).
The Commission is to assess the impact of potential changes to federal financial industry laws, regulations, budgets, and policies. This includes changes to the federal Dodd-Frank Wall Street Reform and Consumer Protection Act; the Consumer Financial Protection Bureau; the Securities and Exchange Commission; the Commodities Futures Trading Commission; the Pension Benefit Guaranty Corporation; the U.S. Department of Labor; the Federal Reserve Board; and any other federal financial regulators. Further, the Commission will recommend ways to protect Marylanders in financial transactions and services.
Further, the Commission is to study and report on State action to regulate cryptocurrencies, initial coin offerings, and cryptocurrency exchanges; changing State law to ensure that protection intended under the Model State Consumer and Employee Justice Enforcement Act and the U.S. Department of Labor conflicts of interest rule that addresses fiduciary duty standards of care; and clarifying State law to protect Maryland buyers of manufactured homes (Chapters 731 & 732, Acts of 2018).
Authorization for the Commission ends June 30, 2019.
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