Arkansas amends FMLA mortgage licensing provisions
On April 1, the Arkansas governor signed SB 149, which amends provisions related to licensing requirements under the state’s Fair Mortgage Lending Act.
Indiana Adds Consumer Loan License to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”
Nebraska amends licensing requirements
On March 17, the Nebraska governor signed LB 363, which amends certain licensing requirements for installment lenders and money transmitters.
Mississippi reenacts licensing requirements
The change affects lenders who provide “credit availability transactions” to customers through fully amortized loans paid over a term of four to 12 months.
Nevada extends work from home guidance
The Department of Business of Industry, Division of Mortgage Lending extended its provisional guidance allowing licensed mortgage loan originators to work from home until June 30, 2021.
2021 licensing trends – Turning predictions into practice [Checkpoint Webcast]
In this Checkpoint Webcast, our panelists shared practical advice on how financial services companies can prepare to handle potential regulatory changes and develop strategies to comply with licensing and maintenance requirements.
New York warns of “extreme risk” with cryptocurrency trading
On March 1, the New York attorney general issued two alerts warning investors about the “extreme risk” facing New Yorkers investing in virtual or “crypto” currency
DFPI addresses several MTA licensing exemptions
The new opinion letters addressed virtual currency, agent of payee rules, and transactions in which recipients are paid before a company is reimbursed.
CSBS announces new nonbank cybersecurity exam tool
During the NMLS Annual Conference, the Conference of State Bank Supervisors released an updated cybersecurity examination tool designed for nonbank financial company supervision.
Hawaii extends work from home guidance
The Department of Financial Institutions extended interim guidance permitting certain licensees with a physical presence to reduce hours or work from home to coincide with local mayors’ orders.
Texas updates guidance for regulated lenders
On February 18, the Texas Office of the Consumer Credit Commissioner issued updated guidance for regulated lenders relating to the Covid-19 crisis.
“Firsthand experience with SES” featuring Kristie Battershell
The panel discussion on Feb. 24, 2021 is part of the NMLS Annual Conference and looks at how responses to the pandemic in 2020 will shape business operations, legislative priorities, and regulatory oversight moving forward.
California Department of Real Estate reissues FAQs regarding licensing process
The FAQs respond to questions regarding, among other things, licensing and examination processes of the Department during Covid-19.
DFPI requests comment on CCFPL regulations
The invitation for comments describes specific topics for stakeholder consideration when providing comments, but the DFPI notes that commenters may provide feedback on “any potential area for rulemaking.”
DFPI issues first enforcement action against student debt-relief company
The agency announced the first-ever enforcement action under its new structure against a student loan debt-relief company and an investigation into others.
DFPI: Certain bitcoin ATMs/kiosks not subject to MTA licensure
An opinion letter explains that the sale and purchase of bitcoin through ATMs/kiosks in third-party retail locations are not subject to licensure because the sale and purchase of bitcoin from the company’s own inventory through a kiosk does not meet California’s definition of “money transmission.”
MLO national test changes to begin April 5, 2021 [nmls.org]
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”
“State Legislative Impacts of 2020” featuring Tim Lange
The panel discussion on Feb. 24, 2021 is part of the NMLS Annual Conference and looks at how responses to the pandemic in 2020 will shape business operations, legislative priorities, and regulatory oversight moving forward.
Massachusetts establishes student loan servicer licensing provisions
The new provisions stipulate that servicers are not required to be licensed as a debt collector or be registered as a third-party loan servicer, provided they meet certain criteria.