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Committee considers statewide pilot to expand financial empowerment centers for adults
Summary
House Bill 801 would create a two-year financial empowerment center (FEC) pilot program administered by the comptroller, extending services such as one-on-one certified financial counseling beyond existing municipal centers. Sponsors and municipal officials said FECs produce measurable debt reduction, credit improvements and increased savings for
Delegate Luke (spoke as sponsor in transcript as Delegate Spiegel) presented House Bill 801, which would establish a Financial Empowerment Center pilot network administered through the comptroller’s office. Advocates said the model — already operating in Gaithersburg and Baltimore and in planning in Howard County — provides free, one-on-one financial counseling and coaching, helps clients reduce consumer debt, improves credit scores, increases savings and connects residents to local services.
Witnesses included municipal leaders and nonprofit partners. Rockville City Council member Adam Van Gregg described Gaithersburg’s successful Bank On-style pilot, and the comptroller’s office discussed options for a travel-based counselor to start the pilot earlier with limited funds; advocates said that approach reduced start-up costs compared with immediately staffing multiple full-time locally based counselors.
The cash campaign (Creating Assets, Savings, and Hope) and local housing and workforce groups provided outcome statistics from existing centers: reductions in consumer debt, average credit-score increases, and measures of new savings accounts opened. Panelists urged the committee to fund a modest pilot and to use the comptroller’s regional contacts to stand up the program efficiently.
Committee members asked about fiscal notes, how to evaluate success, and how the pilot would integrate with workforce development, housing assistance and other state services. No vote was recorded.
