Consumer & commercial lending in Maine

Who needs this in Maine

A company that makes consumer loans to Maine residents generally needs a supervised lender license from Maine Bureau of Consumer Credit Protection when the product, rate, or amount crosses the state’s trigger. Banks and credit unions lending under a charter are usually exempt. Commercial-purpose loans often sit outside the consumer statute — confirm before you treat a business loan as unlicensed.

Where to file

Apply through BCCP, not the Bureau of Financial Institutions, unless the product is money transmission. File in Maine because the borrower lives there, not because your office does.

Federal overlay

TILA / Regulation Z, ECOA, FCRA, and CFPB supervision sit on top of the state license. A state license does not create a federal charter.

Sources

• NMLS / CSBS state agency contacts