Public Deposits Legislation Introduced in Maryland
February 26, 2020 — Companion bills, SB975 and HB1489, which would permit Maryland credit unions to accept public funds and authorize Maryland government entities to deposit public funds in credit unions, were introduced in the House and Senate at the request of local government. According to its website, the MD|DC Credit Union Association “fully supports the bills to enable localities to have the opportunity to keep their public deposits in local institutions that will reinvest back into their communities.”
Hearings are scheduled for March 3 in the Senate Finance Committee and March 6 in the House Economic Matters Committee.
Financial commissioner outlines CU-to-bank conversion requirements
May 1, 2016 –– The state’s financial regulator outlines the requirements for a local credit union to meet in converting to a bank charter (see more here at CUToday.info).
Maryland Department of Labor, Licensing and Regulation Announces Staffing Changes
June 18, 2014 – The Maryland Department of Labor, Licensing and Regulation, the state-chartered credit union regulator, has announced staffing changes within the Department. Veteran staffer Linda Carson, who retired in 2013 as the Financial Depository Examiner Supervisor, has returned to the Department as a part-time contract employee in the same role. The Department also announced the hiring of Marcelo Alcoba as a Financial Depository Examiner Trainee. For more information on the Maryland Department of Labor, Licensing and Regulation, visit the Department’s website.