Reminder: Complete Annual Continuing Education for 2020 [nmls.org]
Learn more about this topic and others in the NMLS Resource Center under “NMLS News.”
NYDFS issues first “conditional Bitlicense”
NYDFS announced authorization for a digital payments company to launch a service for U.S. customers to buy, sell, and hold certain NYDFS-approved cryptocurrencies.
Oklahoma extends working from home guidance through end of year
On October 22, the Oklahoma Department of Consumer Credit extended, for the fifth time, its interim guidance to regulated entities on working from home (see here, here, here, here, and here for previous coverage). The guidance sets forth data security standards for regulated entities with employees working from home and also provides that the department…
MLO licensing in the coming decade [Webcast Archive]
This Checkpoint webcast covered the top 20 things you need to know about mortgage loan originator licensing in the ’20s.
Illinois adopts regulations for student loan servicers
The Department of Financial and Professional Regulation adopted regulations implementing provisions of the Student Loan Servicing Right Act related to licensing fees, operations, and supervision.
New Jersey now accepting student loan servicer licenses through NMLS
On September 15, the Department of Banking and Insurance began accepting applications for the NJ Student Loan Servicer license through NMLS.
Upcoming presentation: NMLS mortgage call report – Where’s NMLS 2.0?
Katy Ryan, APPROVED co-founder and Buckley partner, hosts a session on Oct. 27 as part of the QuestSoft Lending Compliance & Risk Management Virtual Conference.
California enacts the Debt Collection Licensing Act
The Act requires a person engaging in the business of debt collecting in the state to be licensed and provides for the regulation and oversight of debt collectors by the DFPI.
CSBS announces first MSB Accreditation
On September 28, the Conference of State Bank Supervisors announced that the Ohio Division of Financial Institutions received its first Money Service Business Accreditation.
California DBO now Department of Financial Protection and Innovation
The governor signed AB 107, an Assembly Budget Committee bill, which changes the name of the Department of Business Oversight to the Department of Financial Protection and Innovation (DFPI).
Rhode Island extends work from home guidance for lenders
The Department of Business Regulation, Banking Division, extended previous guidance issued to mortgage loan originators, lenders, loan brokers, and exempt company registrants.
Oklahoma regulator amends working from home guidance
The Department of Consumer Credit guidance sets forth data security standards that regulated entities must meet in order to satisfy the department guidance.
APPROVED Checkpoint: Key takeaways from NMLS Ombudsman meeting
For the first time ever, the recent NMLS Ombudsman meeting was virtual and focused on a single topic: remote work and supervision in a post-pandemic world.
New Jersey adds student loan servicer and other licenses to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”
CSBS announces single exam for money transmitters
The streamlined examination for money transmitters operating nationwide (i.e., in 40 or more states) will be known as “MSB Networked Supervision.”
Checkpoint Q&A: Remote examinations and complaints
Panelists from our recent webcast on examinations and complaints follow-up on audience questions that were not addressed during the program due to time limitations.
Renewals in a remote world [Webcast Archive]
This webcast covered a number of topics, including how to prepare for renewal, what to expect during the renewal period, state-specific requirements, and how the pandemic could affect the process this year.
California’s new consumer financial protection law
The California Consumer Financial Protection Law changes the name of the Department of Business Oversight and expands UDAAP and enforcement authority.
DBO reports installment lending by CA nonbanks increased 68% in 2019
The annual report covers the 2019 operations of finance lenders, brokers, and Property Assessed Clean Energy program administrators licensed under the California Financing Law.