Latest Publications

Share:

CSBS to Release Enhancements to Nationwide Multistate Licensing System & Registry (NMLS) on July 20.

The Conference of State Bank Supervisors (CSBS) will release the first phase of major enhancements to the Nationwide Multistate Licensing System & Registry (NMLS) on July 20....more

PA Department of Banking and Securities: Virtual Currency is “Money”

On April 20, 2024, the Pennsylvania Department of Banking and Securities (“DoBS”) issued a policy statement (“Policy Statement”) to “clarify” that the Department’s interpretation of the term “money” in the Pennsylvania Money...more

Wisconsin and Maine enact Model Money Transmission Modernization Law

In April 2024, Wisconsin and Maine enacted the Model Money Transmission Modernization Law (“MTML”) to implement the Conference of State Bank Supervisors’ Model Money Transmission Modernization Act.  As of April 22, 2024,...more

South Dakota Regulator Requires BSA/AML Compliance for Money Lender Licensees and Non-Residential Mortgage Lenders

The South Dakota Division of Banking issued a Memorandum notifying all licensed money lenders and non-residential mortgage lenders of their Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) obligations under a 2020 Final...more

“True Lender Act” Bill Proposed in Maryland

Maryland has joined the ranks of states considering legislation that would codify elements of “true lender” theory in an effort to impose federally preempted state licensing requirements and rate caps on loans to Maryland...more

CFPB proposes creation of registration system for nonbanks subject to agency or court orders involving alleged violations of...

On December 12, 2022, the CFPB released a proposed rule that would require certain “covered nonbanks” to register with and submit information to the CFPB when they become subject to certain orders from local, state, or...more

DFPI releases notice addressing processing delays for debt collection license applications

In an announcement to its subscribers sent electronically on May 23, 2022, the California Department of Financial Protection and Innovation (“DFPI”) notified applicants – and prospective applicants – for a license under...more

State Bank Regulators Launch Single-Exam Plan for Multistate Money Transmitters in wake of OCC’s Payments Charter Proposal

The Conference of State Bank Supervisors (CSBS) recently announced plans to establish a program under which money transmitters licensed in multiple states will undergo a single comprehensive exam that seeks to satisfy all...more

Loan Originator Temporary Authority to Operate FAQs

FAQs re: the amendment of the SAFE Act (pursuant to The Economic Growth, Regulatory Relief, and Consumer Protection Act – S. 2155)....more

NMLS Publishes 2018 Annual Report "Transforming Supervision"

The 11th annual report on NMLS operations, performance and new development efforts has been released by the NMLS. ...more

CSBS agrees to implement recommendations from fintech advisory panel

The Conference of State Bank Supervisors (CSBS) announced last week that it has agreed to implement 14 recommendations made by its Fintech Industry Advisory Panel (Advisory Panel). ...more

Ohio Revises Mortgage Lending Act to Cover Servicers and MSR Owners

Effective March 20, 2019, Ohio HB 489 amends the Ohio Residential Mortgage Lending Act (ORMLA) to require a registration for mortgage servicers....more

North Carolina FAQs Updated to Address MSR Owners

The North Carolina Office of the Commissioner of Banks recently updated its FAQs to specifically address the need for a Servicer license for entities that merely hold mortgage servicing rights. ...more

NMLS Reinstatement Period Ends February 28

For those agencies that permit license reinstatement, the reinstatement period will run until midnight Eastern Time on February 28, 2019....more

Ombudsman Meeting at the 2019 NMLS Annual Conference & Training

An open meeting with the NMLS Ombudsman will be held Wednesday, February 20, 2019, from 9 a.m. to 12 p.m. ET, in conjunction with the 2019 NMLS Annual Conference & Training in Orlando, Florida. ...more

2019 NMLS Annual Conference

Registration for the 2019 NMLS Annual Conference & Training is now open. The Conference will be held February 18-21...more

FinCEN Renews Real Estate GTOs: Expanded Geographic Coverage and Reduced Monetary Thresholds

The Financial Crimes Enforcement Network (“FINCEN”) announced on November 15 that it has renewed and revised its Geographic Targeting Orders (“GTOs”) that require U.S. title insurance companies to identify the natural persons...more

NMLS Renewal Period Now Open

A reminder that the NMLS license renewal period opened on November 1, and that there is an Annual Renewal Information section on the NMLS Resource Center website with detailed information regarding deadlines, requirements,...more

Vermont exempts bank partners from loan solicitation license for commercial loans

We have been following closely efforts by state regulators, state legislatures and the courts to restrict, or in some cases prohibit, bank model lending programs, so the recent guidance from the Vermont Department of...more

Illinois Revises Advertisement "Tag Line" Requirement

Effective immediately, Illinois Residential Mortgage licensees will no longer be required to include the phrase "Illinois Residential Mortgage Licensee" in advertisements...more

Significant changes to Connecticut consumer finance licensing laws to take effect October 1, 2018

Significant changes to Connecticut’s licensing laws for consumer financial services providers will take effect on October 1, 2018.  In addition to changes impacting mortgage-related licensees (e.g. mortgage lenders,...more

NMLS Policy Guidebook Update

On July 30, 2018, an updated version of the NMLS Policy Guidebook was posted to the NMLS Resource Center. The announcement posted on the Resource Center home page states that "The updated NMLS Policy Guidebook does not...more

NMLS Releases 2018 Q1 Mortgage Industry Report

The NMLS Mortgage Industry Report for the first quarter of 2018 has been made available on the NMLS website (NMLS Reports). The report compiles data on mortgage companies, branches, and mortgage loan originators. ...more

NMLS Ombudsman Meeting at the 2018 AARMR Annual Regulatory Conference

In connection with the 2018 American Association of Residential Mortgage Regulators (AARMR) Annual Conference to be held in Boston, an open meeting with the NMLS Ombudsman will be held Tuesday, July 31, 2018, from 9:00 a.m....more

North Carolina to Accept Electronic Surety Bonds

The North Carolina Commissioner of Banks Office has begun receiving new and converted Electronic Surety Bonds (ESB) through NMLS for its mortgage broker, mortgage lender, and mortgage servicer licenses....more

88 Results
 / 
View per page
Page: of 4

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide