NMLS Ombudsman meeting: Virtually everything you need to know [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
DFPI addresses MTA licensing requirements
New opinion letters cover aspects of the California Money Transmission Act related to a digital currency trading platform and the referral of customers to financial institutions.
How to obtain FinCEN registration for your MSB
Money services businesses are often required to submit evidence of registration with FinCEN along with their state license applications.
Hawaii adds small dollar installment loan branch to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
Hawaii to add electronic surety bond [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
Hawaii removes state criminal background check requirements in NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
DFPI reminds licensees of March 15 CFL annual report filing deadline
DFPI also warned licensees that the commissioner may suspend or revoke a licensee’s license if an annual report is not submitted by the deadline.
Montana adopts NMLS forms and procedure amendments
The new provisions from the Montana Department of Administration became effective February 12, 2022.
Upcoming deadlines: CFL and CRMLA license reports
March reporting deadlines are quickly approaching for California Financing Law and California Residential Mortgage Lending Act licensees.
States settle with company on fraudulent MLO certifications
The California-based company provided false certificates claiming that MLOs took mandatory continuing education courses as required for licensure under state and federal law.
Upcoming deadline: Washington AAR and CAR
Washington consumer loan company licensees must file their annual assessment reports and consolidated annual reports by March 1, 2022.
Pennsylvania amends certain mortgage licensing requirements
The new legislation makes various amendments to the Pennsylvania Consolidated Statutes related to mortgage loan industry licensing requirements.
Launching a financial services company [Webcast Archive]
In this webcast, we covered formation and licensing requirements critical to an effective start-up plan for new financial services companies.
DFPI addresses several MTA licensing exemptions
Two new opinion letters cover aspects of the California Money Transmission Act related to the purchase and sale of digital assets and agent of payee rules.
Tim Lange named CEO of APPROVED
Tim is a founding member of APPROVED and has served as chief operating officer since the company’s inception in 2017.
New Jersey Superior Court grants summary judgment in favor of debt buyer
A proposed class action lawsuit claimed that the defendant unlawfully acquired defaulted credit card accounts without proper licensure.
Collection agency must pay $100,000
The Connecticut Department of Banking issued an order against a California-based collection agency for failing to request a hearing within the prescribed time period after a notice regarding submission of certain information was sent.
DFPI reminds licensees about submitting annual reports
All California Financing Law licensees are required to submit their annual reports by March 15, even if the licensee had no business activity during the 2021 calendar year.
States reach $1.2 million settlement with MLOs over fraudulent SAFE Act education certifications
The enforcement action targeted a mortgage education scheme offered by a California-based company that provided false certificates claiming that MLOs took continuing education courses as required for licensure.
DFPI acknowledges challenges in obtaining a NMLS account
DFPI is “working cooperatively with the NMLS team to be able to verify those that have attempted to apply” in compliance with the Dec. 31, 2021 deadline.