Welcome to the Office of the Commissioner of Financial Regulation
To protect Marylanders through the operation of a modern financial regulatory system that promotes respect for consumers, safety and compliance, fair competition, responsible business innovation, and a strong state economy.
The Office of the Commissioner of Financial Regulation (Office or OCFR), established in 1910, is Maryland's consumer financial protection agency and financial services regulator.
The Commissioner of Financial Regulation has authority to license, register, charter, and supervise through examinations and investigations certain financial institutions, financial service providers, and financial service activities in Maryland. The Office provides assistance to Maryland consumers by investigating complaints involving businesses under our supervision.
What We Regulate
The Office charters and supervises Maryland state-chartered banks, credit unions and trust companies.
The Office also licenses/registers and supervises the following non-depository financial service providers:
- Check cashers
- Collection agencies
- Consumer lenders
- Credit reporting agencies
- Credit services businesses
- Debt management companies
- Debt settlement companies
- Installment lenders
- Money transmitters
- Mortgage entities
- Mortgage brokers
- Mortgage loan originators
- Mortgage lenders
- Mortgage servicers
- Affiliated insurance producer-originators
- Sales financing businesses
See Regulated Industries and Activities for more information about the financial services providers and activities supervised by the Commissioner of Financial Regulation.
Interested in employment opportunities with our Office? See our open positions here.
See the Senior Management Organizational Chart for OCFR’s current leadership team.
Commissioner of Financial Regulation
Antonio P. “Tony” Salazar has served as Maryland’s Commissioner of Financial Regulation since July 5, 2017. Commissioner Salazar has over 35 years of experience in banking law, commercial financing transactions, loan restructurings and work-outs, real estate, and general business law transactions.
The Corporate Activities Unit reviews and processes all applications filed by banks, credit unions, and trust companies for new charters, mergers, acquisitions, affiliates, stock conversions, changes in control, branches, foreign bank offices, field of membership changes, and all other approvals required under Maryland law.
Depository Supervision Unit
The Depository Supervision Unit is responsible for the supervision and examination of all Maryland-chartered banks, credit unions, and trust companies.
The Licensing Unit is responsible for the licensing and registration of non-depository financial service providers.
The Mortgage Supervision Unit is responsible for the supervision and examination of licensed mortgage brokers, lenders, servicers, and loan originators operating in Maryland.
Money Services and Consumer Credit Supervision
The Money Services and Consumer Credit Supervision Unit is responsible for the supervision, examination and investigation of licensed or registered money transmitters, check cashers, debt management companies, and other consumer credit businesses operating in Maryland.
The Enforcement Unit investigates fraud-related issues and conducts specialized investigations involving chartered, licensed and unlicensed business entities, with the goal of uncovering improper business practices or violations of law.
The Operations Unit provides technical and administrative support to the Non-Depository Units described above and to the State Collection Agency Licensing Board. The Operations Unit is also responsible for administering the Maryland Foreclosure Registration System (FRS) – to learn about the FRS, see Residential Property Foreclosures – Industry Resources .
Outreach, Data Analysis and Consumer Services
The Consumer Services Unit responds to inquiries from the public and investigates consumer complaints involving regulated financial service providers, with the goal of resolving those complaints. Maryland residents may submit a complaint using the electronic complaint form or by writing a letter or email describing their issue. See Consumer Complaints and Inquiries for instructions on how to submit a complaint to our Office.
Outreach and Education
The Outreach and Education Unit conducts and coordinates outreach and education to Maryland consumers, the financial services industry, nonprofit partners, and government agencies.
Trend Analysis and Reporting
The Trend Analysis and Reporting Unit implements and oversees many of the data analysis needs of the Office, both internal and external, to inform the Office’s decision-making and assist in strategic planning.
The Policy Unit coordinates the Office’s legislative response and regulatory activities, including researching policy changes, legislation, and regulations at local, state and federal levels.
State Collection Agency Licensing Board
The State Collection Agency Licensing Board is responsible for the licensing and supervision of collection agencies operating in Maryland.
Student Loan Ombudsman
The Student Loan Ombudsman is designated by the Commissioner to monitor student loan servicing activity in Maryland. The Ombudsman investigates consumer complaints involving student loan servicers and provides outreach and education about the rights of student loan borrowers in Maryland.
Fintech Innovation Contact
The Financial Technology (“Fintech”) Innovation Contact is designated by the Commissioner to support innovation efforts in the financial services sector and to facilitate communication between the Office, entrepreneurs and fintech companies.
Reports from OCFR
OCFR Annual Reports
Student Loan Ombudsman Annual Reports
La Oficina del Comisionado de Regulación Financiera ("Oficina") es responsable de constituir y supervisar los bancos, cooperativas de crédito y sociedades fiduciarias con privilegios estatales de Maryland; otorgar licencias y supervisa las instituciones financieras autorizadas por el Estado incluyendo a los prestamistas hipotecarios, corredores hipotecarios, proveedores de servicios hipotecarios y originadores de préstamos hipotecarios. Además, incluye productores-originadores de seguros asociados, compañías para cambiar cheques, compañías para enviar dinero, agencias de cobro de deudas de los consumidores, prestamistas, prestamistas a plazos, empresas de financiación de ventas, empresas de servicios de crédito y empresas de gestión de la deuda. Además, registra y supervisa las agencias de informes de crédito y las deudas de las empresas. Estos esfuerzos de la Oficina, son para asegurar el cumplimiento con las leyes y reglamentos del Estado de Maryland.
La Oficina presta asistencia a los consumidores mediante la investigación de sus quejas contra las prácticas comerciales cuestionables que afecten a entidades financieras con privilegios estatales, con licencia y registradas bajo su supervisión y autoridad. La Oficina también ofrece charlas enfocadas en la ejecución de hipotecas y las hipotecas delincuentes en el Estado. Además, la Oficina ayuda a conectar a los consumidores de Maryland con una educación financiera eficaz e disponible a través del Estado y a nivel nacional.