WBK Industry News - State Regulatory Developments

MD Governor Updates Previous Executive Order, Requires Citizens to Stay Home

As part of the state’s response to the COVID-19 crisis, Maryland Governor Larry Hogan signed an executive order on March 30, 2020, updating his previous order dated March 23 that closed non-essential businesses.  The updated Order requires all citizens to stay at home.  The Order makes a violation of it a misdemeanor under Maryland law.  The Order does not otherwise alter the definition of essential businesses, or the previous guidance provided by the Maryland Office of Legal Counsel.

In an official state legal counsel opinion, essential services are defined to include the financial services sector, specifically including banks, credit unions, and non-bank lenders, among others, in the definition of essential services.  The legal counsel opinion also incorporates the federal government’s critical infrastructure report, which includes financial services.

The federal government’s critical infrastructure sectors information, which includes financial services, is available here

The specific federal critical infrastructure sector plan for financial services is available here.