D.C. Passes NMLS Conformity Temporary Act of 2014

more+
less-

Recently, Washington, D.C., Mayor Vincent Gray signed the NMLS Conformity Temporary Act of 2014. The Act authorizes the Department of Insurance, Securities and Banking (DISB) the necessary statutory authority to use the NMLS for all non-depository financial service providers. Currently, the DISB has authority to use the NMLS only for mortgage-related financial service providers. The Act will take effect after a 30-day period of congressional review beginning on August 28, 2014, and will expire 225 days after it takes effect on April 10, 2015.

The D.C. Council is also debating the NMLS Conformity Act of 2014, which is a permanent version of the temporary act. A hearing on the permanent act was held on July 9, but no further action has been taken.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ballard Spahr LLP | Attorney Advertising

Written by:

more+
less-

Ballard Spahr LLP on:

Reporters on Deadline

"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:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×