Can I collect bank account information from participants in Maryland? What are the requirements?

Based on the provided documents, it appears that you may collect bank account information from participants in Maryland under certain circumstances. However, there are specific requirements that must be met in order to do so legally.

Requirements for Collecting Bank Account Information in Maryland

The requirements for collecting bank account information in Maryland depend on the context in which the information is being collected. Here are some relevant regulations to consider:

1. MDCM Fin. Inst. Section 5-907: This regulation requires bank holding companies that control a Maryland bank or a Maryland bank holding company to submit certain reports to the Commissioner, including a report specifying the amount of deposits held by each branch of each Maryland bank controlled by the bank holding company. This suggests that the Commissioner may have access to bank account information for Maryland banks.
2. MDCR 36.10.02.04: This regulation outlines the personal and background information that must be included in an application for a license to conduct gaming or sports wagering in Maryland. The information required includes the full name, date of birth, physical description, and social security number of individuals associated with the applicant, as well as fingerprints for a criminal records check. This suggests that individuals associated with a gaming or sports wagering license may be required to provide bank account information as part of the application process.
3. MDCR 36.03.02.02: This regulation outlines the personal and background information that must be included in an application for a license to conduct a lottery in Maryland. The information required is similar to that required for a gaming or sports wagering license, including fingerprints for a criminal records check. This suggests that individuals associated with a lottery license may also be required to provide bank account information as part of the application process.
4. MDCR 36.03.02.03: This regulation outlines additional requirements for background investigations for lottery license applicants, including the submission of fingerprints for a national criminal history records check and an international criminal history records check. This suggests that bank account information may be collected as part of a background investigation for a lottery license.

Conclusion

Based on the regulations outlined above, it appears that bank account information may be collected from participants in Maryland under certain circumstances, such as as part of an application for a gaming or sports wagering license or a lottery license. However, it is important to note that there may be additional requirements and restrictions that apply depending on the specific context in which the information is being collected. It is recommended that you consult with a legal professional to ensure that you are collecting bank account information in compliance with all applicable regulations.

Jurisdiction

Maryland

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