During the 2016 legislative session the General Assembly of Maryland passed House Bill 188, amending Md. Ann. Code, Financial Institutions Article, § 2-117 regarding disclosure of information.  The bill was signed into law as Chapter 478 (the "Act") by the Governor in May 2016, and the Act became effective on July 1, 2016.

       The Act expanded the scope of confidentiality pertaining to information obtained or generated in the exercise of the examination authority (examination information) of the Maryland Commissioner of Financial Regulation (Commissioner) from banking institutions to all persons required to be licensed by the Commissioner.  This confidentiality or privilege exempts examination information from disclosure under the Maryland Public Information Act (Maryland Code Annotated, General Provisions Article, § 4-101  et seq.). 

       The Act specifically prohibits persons to whom the Commissioner has disclosed examination information, including licensees, from disclosing such examination information without the Commissioner's prior written permission.   Any disclosure by a person without the prior written consent of the Commissioner constitutes a criminal misdemeanor, punishable by a fine or imprisonment or both upon conviction.

       For any questions or additional information, you may contact Jedd Bellman, Assistant Commissioner of Enforcement and Compliance, at 410-230-6390 or via email at jedd.bellman@maryland.gov.