Maryland Financial Empowerment Center Network Pilot Program - Establishment

SB 518 establishes a 3-year pilot program to create a statewide network of free financial empowerment centers across Maryland, operating under the Office of the Comptroller. These centers will provide one-on-one financial counseling in English and Spanish (and other required languages) to help residents increase savings, pay down debt, access banking, and improve credit scores. The program requires counselors to complete specific training and will be funded through state budget appropriations for fiscal years 2028 and 2029, ending September 30, 2029. The pilot targets Maryland residents seeking accessible financial guidance, particularly in underserved communities.