Over the past year, California, Kentucky, New Hampshire, and Oklahoma joined a majority of states in requiring that new applicants for certain licenses submit electronic surety bonds via NMLS in lieu of paper bonds.
A new opinion letter covers aspects of the California Money Transmission Act related to certain cryptocurrency activities.
Between July 1 and Sept. 30, companies that hold a combination license must transition back to the appropriate licenses in order to conduct business in the state.
The updates to the Student Loan Servicers Act cover private lenders, creditors, and collection agencies connected to postsecondary non-federal student loans.
The Colorado Nonbank Mortgage Servicers Act provides additional consumer protections through the regulation of mortgage servicers.
The guidance replaces any previous guidance issued by the Division of Banks of the Massachusetts Office of Consumer Affairs and Business Regulations regarding telework and will continue, unless modified or withdrawn.
According to an announcement posted on the DFPI’s website, transitioning is voluntary until related proposed amendments to the CFL regulations are adopted. However, it is anticipated that the transition deadline will remain Dec. 31, 2021.
Licensees would be wise to double-check deadlines before they assume that they’re off the hook and head out for summer vacation.
Among other things, the legislation exempts certain supervised financial institutions from certain notice and fee requirements.
The California Department of Financial Protection and Innovation’s notice specifies that comments on the proposed modifications are due July 12.
Among other things, the new legislation creates a Student Loan Bill of Rights and outlines new provisions for student loan servicers.
The California Department of Financial Protection and Innovation released background check guidance applicable to the key individuals of California Financing Law licensees and license applicants.
The new rule addresses the revocation and suspension of mortgage licenses, the reinstatement of expired or suspended licenses, and applications for initial licenses near year end, among other things.
Among other things, the bill allows DFI to accept licensing applications through the NMLS for certain license types.
New legislation clarifies certain deadlines and provisions in consumer credit applications and licensing requirements for mortgage loan originators.
Wrap loans will be subject to regulation like other mortgage loan products in order to provide certain protections for buyers and sellers.
The new requirements are expected to streamline the licensing process as part of efforts by state regulators to expand uniformity in state regulation through a strategy called Networked Supervision.
The Department of Financial Protection and Innovation now expects all companies to apply for the CFL license electronically via NMLS.
New legislation amends various provisions related to insurance, banking, and securities, including those related to licensing applications and the annual renewal process.
The Arizona governor signed into law SB 1463, a bill that makes various changes to the Arizona Department of Insurance and Financial Institutions (DIFI).