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HB 676

Maryland Financial Empowerment Center Network Pilot Program - Establishment

2026 Regular Session Introduced by Jon Cardin and 22 co-sponsors

Maryland establishes pilot Financial Empowerment Centers providing free financial counseling and education to improve residents' economic literacy and financial stability.

Hearing 2/19 at 1:00 p.m.
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Bill Summary · HB 676

Legislative bill overview

HB 676 establishes a pilot program to create a network of Financial Empowerment Centers across Maryland. These centers would provide free financial counseling, education, and assistance services to residents seeking to improve their financial literacy and economic stability. The bill authorizes the state to develop infrastructure and coordinate these services through designated community locations.

Why is this important

Financial counseling and education services can help individuals reduce debt, build savings, improve credit scores, and make better long-term financial decisions. Access to such services is particularly valuable for low-to-moderate income households that may lack resources for private financial advisors. This pilot program could establish a model for statewide expansion if proven effective.

Potential points of contention

  • Funding mechanism: The bill's funding source and budget allocation are not specified in the summary, raising questions about fiscal impact and sustainability
  • Scope and staffing: Unclear how many centers would be established, what qualifications counselors must have, and whether existing organizations would be leveraged or entirely new infrastructure created
  • Program outcomes: No measurable success metrics or evaluation criteria are detailed, making it difficult to assess whether the pilot would meet stated goals before expansion

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

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