Licensing Rules

News & Analysis as of

GA Department of Banking and Finance Orders Florida Mortgage Lender to Shut Down for Unlicensed Lending Activities

On April 8, the Georgia Department of Banking and Finance issued an Order to Cease and Desist (Order) to a Florida-based mortgage lender. The lender allegedly engaged in residential mortgage origination, brokering, and/or...more

Arkansas Amends Penalties for Unlicensed Collection Agency Activities

On April 8, the Arkansas General Assembly approved H.B.1668, which amends its collection agencies law to allow unlicensed collection agencies operating within the state to pay a $10,000 civil penalty to be considered...more

North Dakota Creates Exemptions from MLO License

The state of North Dakota has amended sections of the North Dakota Century Code relating to money brokers, collection agencies, money transmitters, and mortgage loan originators. Notably, the modifications create an exemption...more

Japanese Fund Regulatory Framework—2015 Amendment

On March 24, 2015, an amendment bill (“Amendment Bill”) to the Financial Instruments and Exchange Act of Japan (“FIEA”) was approved by the Cabinet and was submitted to the Diet for its consideration. The Amendment Bill...more

What You Need to Know About Enforcement Actions by the Contractors State License Board

I questioned whether to even write this post. - Because, of course, YOU would never find yourself hightailing it out of town with the California Contractor’s State License Board (“CSLB”) sniffing down your tail pipes....more

DBO Establishes Protocol With To Block Unlicensed Payday Lenders’ Ads

When I served as California’s Commissioner of Corporations, Internet commerce was just finding its legs and we were concerned about how to apply the Corporate Securities Laws to this new technology. For state regulators, the...more

Proposed Registration of Associated Persons Involved With Algorithmic Trading Strategies

FINRA recently issued Regulatory Notice 15-06 requesting comments on the proposal that would require the registration of associated persons involved in the design, development or modification of algorithmic trading...more

South Dakota Amends Money Lending Regulations

On March 12, Gov. Dennis Daugaard signed HB 1027, amending the regulations governing the South Dakota Money Lending License. Under existing law, a license is required for any person that “engages in the business of lending...more

NC Court of Appeals Finds Freight Broker Liable for Driver's Workers' Comp Claim

Motor freight brokers hold federal licenses that allow them to locate suitable transportation services for their shipper clients. Brokers never actually handle or transport the freight, but act as an intermediary to pair...more

Florida Mortgage Lender Licensing Bulletin

Earlier this year, the Florida Office of Financial Regulation (the Regulator) concluded an investigation against a Miami-based mortgage lender with the lender agreeing to a fine for executing mortgage loans without a license...more

Montana Amends Mortgage Licensing Provisions

Among the state mortgage law changes made, the terms "mortgage lender," "mortgage broker," "mortgage servicer," and "mortgage loan originator" were amended to include entities that hold themselves out to the public as being...more

U.S. Supreme Court case examines authority of state health care licensure boards and patient safety

Many individuals may find comfort in the knowledge that their doctors, dentists and other healthcare professionals are required to pass rigorous testing in order to receive their licenses. These licenses are issued by each...more

Texas small hydro project loses exemption

What happens to a proposed hydroelectric project takes longer than anticipated to be built, due to difficulties with project financing and severe flooding? As the developer of a proposed project in Texas recently found out,...more

CBOE Proposes Amendments to Trading Permit Holder and Direct Access Qualifications

On March 11, the Chicago Board Options Exchange (CBOE) proposed new qualifications for Trading Permit Holder (TPH) applicants and direct access users. The proposed amendments require a TPH to be domiciled in (in the case of...more

No State Action Antitrust Immunity for North Carolina Dental Board: Implications for the Health Care Sector

On February 25, 2015, the Supreme Court of the United States held that the North Carolina Dental Board (“Board”) was not insulated from federal antitrust liability under the so-called “state action” doctrine when it engaged...more

California Virtual Currency Legislation

On February 27, 2015, California Assemblyman Matt Dababneh, chairman of the state's Banking and Finance Committee, introduced Assembly Bill 1326, which would prohibit a person from engaging in California in the business of...more

UDAAP Council Weekly UDAAP Standards Report - 3/11/2015

Every week, courts around the United States issue decisions addressing aspects of civil UDAAP claims. In an effort to illuminate the UDAAP standards, below is a sampling of some of this week’s UDAAP decisions on the meaning...more

California Set to Consider Virtual Currency Guidelines

On February 27, California Assembly Member Matt Dababneh introduced AB 1326, which would provide guidelines for individuals or businesses who conduct business using virtual currency. The legislation would prohibit a person...more

Utah Amends Licensing Requirements for Lending Managers

The Utah Division of Real Estate amended its licensing provisions to expand the ways an individual may satisfy the experience requirement necessary to qualify for a Utah lending manager license, which is a prerequisite to...more

Health Alert (Australia) - March 9, 2015

In This Issue: Judgments; Legislation; and Reports. - Excerpt from Judgments: Australia. Federal Court - 5 March 2015 - Australian Nursing and Midwifery Federation v Kaizen Hospitals (Essendon) Pty Ltd...more

California Legislature Proposes Virtual Currency License

On February 27, 2015, California Assembly member Matt Dababneh (D – Encino) introduced AB 1326, which would require virtual currency businesses to be licensed by the Department of Business Oversight (DBO). To get licensed,...more

Bill Would Authorize Payments For Commercial Loan Referrals

California State Senator Marty Block has introduced a bill, SB 197, that would authorize a licensed finance lender to compensate an unlicensed person or company in connection with the referral of one or more prospective...more

Supreme Court Limits Protectionism by State Healthcare Licensing Boards - Boards Comprised of Active Medical Providers Are Not...

The United States Supreme Court’s recent decision in N.C. State Bd. of Dental Examiners v. Federal Trade Commission, No. 13-534, 2015 WL 773331 (S.Ct. February 25, 2015) makes clear that the anticompetitive actions of state...more

Supreme Court Denies Antitrust Shield for NC Dental Board

On Wednesday, February 25, 2015, the Supreme Court released a 6-3 decision in North Carolina Board of Dental Examiners v. Federal Trade Commission, a case with potentially broad implications for regulation by dental and...more

Supreme Court: State Agencies Controlled by Active Market Participants Must Have Active State Supervision to Qualify for Antitrust...

In a 6–3 decision issued February 25, 2015, the Supreme Court of the United States held in North Carolina State Board of Dental Examiners v. Federal Trade Commission that if active market participants control an entity—even a...more

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