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Bill

HB 801

Maryland Financial Empowerment Center Network Pilot Program - Establishment

2025 Regular Session Introduced by Gabriel Acevero and 14 co-sponsors

Maryland establishes pilot Financial Empowerment Centers offering free financial counseling and education to low-to-moderate income residents to build financial literacy and stability.

Hearing 3/27 at 1:00 p.m.
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Bill Summary · HB 801

Legislative bill overview

HB 801 establishes a pilot program creating a network of Financial Empowerment Centers across Maryland to provide free financial counseling, education, and assistance services to residents. The centers would offer guidance on budgeting, credit management, debt reduction, savings strategies, and access to financial products, with priority given to underserved and low-to-moderate income communities.

Why is this important

Financial literacy and access to professional guidance remain significant barriers for many Marylanders, particularly in lower-income communities where predatory lending and poor financial decision-making can perpetuate cycles of poverty. By establishing centers modeled on successful programs in other states, Maryland could help residents build financial stability, improve creditworthiness, and increase wealth-building capacity while reducing reliance on high-cost financial services.

Potential points of contention

  • Funding mechanism and cost: The bill's fiscal impact and whether state funding is adequate for meaningful coverage across all intended communities, or if this becomes underfunded and ineffective
  • Program effectiveness and accountability: Questions about measurable outcomes, how success will be evaluated, and whether the pilot will demonstrate sufficient return-on-investment to justify permanent statewide expansion
  • Accessibility and reach: Whether the centers will actually serve intended populations effectively, or if logistical barriers (location, hours, transportation) limit utilization by those most in need

Compiled from official sources — confirm details with the bill’s official record.

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