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.
On September 28, the Conference of State Bank Supervisors announced that the Ohio Division of Financial Institutions received its first Money Service Business Accreditation.
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).
The Department of Business Regulation, Banking Division, extended previous guidance issued to mortgage loan originators, lenders, loan brokers, and exempt company registrants.
The Department of Consumer Credit guidance sets forth data security standards that regulated entities must meet in order to satisfy the department guidance.
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.
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”
The streamlined examination for money transmitters operating nationwide (i.e., in 40 or more states) will be known as “MSB Networked Supervision.”
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.
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.
The California Consumer Financial Protection Law changes the name of the Department of Business Oversight and expands UDAAP and enforcement authority.
The annual report covers the 2019 operations of finance lenders, brokers, and Property Assessed Clean Energy program administrators licensed under the California Financing Law.
The California Department of Business Oversight announced a formal investigation into a California auto title lender to determine whether the lender is evading state interest rate caps through a recent partnership with a Utah-based bank.
New applicants and existing licensees may now make submissions for Georgia Department of Banking and Finance licenses directly through NMLS.
With this development, the already short list of state financial services regulators enforcing such a requirement became significantly shorter.
The NMLS annual renewal period is right around the corner and it’s certainly not too early for state-licensed mortgage loan originators to start fulfilling their annual continuing education requirements.
The California Department of Business Oversight (CDBO) released two new opinion letters covering aspects of the California Money Transmission Act (MTA) related to the sale of foreign currency and the agent of the payee exemption.
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”
Remote work guidance was extended through Dec. 31 for mortgage companies, MLOs, supervised loan licensees, credit services organizations, money transmitters, and credit notification registrants.
This discussion covers how the pandemic has affected the traditional examination process, and updates from CSBS regarding the latest developments within the State Examination System (SES) and on managing complaints.