The Secretary of State, Securities Division, issued guidance to loan broker and collection agencies in response to Covid-19, encouraging licensees to instruct their employees to work from home and refrain from any in-person meetings.
In response to the Covid-19 pandemic, the Oregon Division of Financial Regulation has indefinitely suspended enforcement of the March 31 deadline.
The DBO issued guidance to escrow agents, finance lenders and servicers, student loan servicers, residential mortgage lenders and servicers, and mortgage loan originators in light of Covid-19.
Among other things, HB 401 amends the definition of “mortgage lending activities” to include residential mortgage servicing and eliminates certain prohibited practices.
The Michigan Department of Insurance and Financial Services seeks to understand licensees’ and registrants’ plans so that they can better address related inquiries from consumers.
The CO Attorney General released a statement urging student loan servicers, creditors, and debt collectors to discontinue mandatory debt collection efforts for consumers who experience financial distress due to Covid-19.
We have collected and summarized the preliminary guidance issued by the following states: Alaska, Alabama, Arkansas, Connecticut, Idaho, Kansas, Massachusetts, Maryland, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Texas, Utah, Vermont, Washington, and Wisconsin.
In response to coronavirus/Covid‑19, Prometric announced today that it will temporarily close all of its test centers in the U.S. and Canada for 30 days, beginning March 18.
On March 10, the New York State Department of Financial Services issued several industry letters related to the novel coronavirus known as “Covid‑19.” Two of those letters require responses from New York regulated institutions no later than April 9, 2020.
On March 5, the governor signed HB 4353, which creates “a rational nexus requirement between prior criminal conduct and initial licensure decision making,” to guide commissioners or commissions with licensing authority.
Guidance notes the ability for licensed individuals to work remotely and other exceptions to the usual rules to ensure continuity of operations.
Among other things, SB 28 outlines reasons why an application for a license may be denied and sets forth licensure exemptions.
The MSB Model Law is a primary part of CSBS’s Vision 2020 initiatives, intended to modernize state regulation of non-banks and fintech firms.
Debbie Stopeck, a senior program manager at APPROVED, shares her unique insights from a career spanning nearly four decades in licensing at the California DBO. [Checkpoint Webcast]
There are some quickly-approaching deadlines for reports and financial statements filed via the NMLS.
CRMLA licensees are required to file an annual report with the California DBO no later than March 1, 2020. Some lenders must also file a Holden Act report by March 31, 2020
It is important to properly surrender a license that is no longer required to effectively terminate the issuing regulator’s supervisory authority. Here are a few key things to know about surrenders.
The Dec. 27 advisory stated that consumers may not be obligated to pay finance charges on consumer credit transactions purchased, acquired, or otherwise assigned to retail credit sellers that have not filed applicable notifications.
The DBO does not grant filing extensions, and missing the March 15 deadline may result in monetary penalties and/or suspension or revocation of the license.
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”