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Amendments to Ohio’s Administrative Rules Relating to Residential Mortgage Lending

The Ohio Department of Commerce, Division of Financial Institutions is amending the rules that implement the state’s Residential Mortgage Lending Act. The Division is seeking preliminary feedback on the administrative rules,...more

Kentucky student loan servicer license application available on NMLS

Last year, Kentucky enacted the Student Education Loan Servicing, Licensing, and Protection Act of 2022 (the “Act”), which requires student loan services to be licensed in Kentucky.  The Act took effect on July 13, 2023 (the...more

Nebraska enacts new licensing requirement for small dollar loans

Nebraska Governor, Jim Pillen, signed into law Legislative Bill 92 on June 6, 2023, which amended the Nebraska Installment Loan Act (the “Act”) effective June 7, 2023 (the “Effective Date”). As amended, the licensing...more

Nevada enacts licensing requirement for private education loan lenders and servicers

The Nevada Legislature recently passed Assembly Bill 332 (“AB 332”), which amends Nev. Rev. Stat. Title 55 relating to Banks and Related Organizations to add a new chapter regulating Private Education Lenders and Student Loan...more

Bill to license commercial lenders proposed in New York

New York Senator James Sanders Jr. recently proposed Senate Bill 1450A (“S1450”), which would require those making or soliciting “commercial financing products” in New York State to obtain a license and comply with specified...more

Consumer Finance Monitor Podcast Episode: Recent Federal and State Debt Collection Developments [Video]

Third-party debt collectors, first-party creditors, and debt buyers face an ever-evolving federal and state regulatory landscape as well as ongoing private litigation. We first look at the impact of the CFPB’s most recent...more

Bill to extend the California Debt Collection Licensing Act’s grace period provisions sent to Governor for review

On August 31, 2022, the California Senate voted to approve House Assembly Bill 156, and sent the bill to Governor Newsom for consideration and potential signature.  If it becomes law, the bill would amend the existing...more

California DFPI issues draft text for second rulemaking under Debt Collection Licensing Act

As discussed in an earlier blog post, the California Department of Financial Protection and Innovation (“DFPI”) issued an Invitation for Comments on the Proposed Second Rulemaking under the Debt Collection Licensing Act...more

Kentucky enacts licensing requirement for servicers of private and federal student loans

Kentucky recently enacted HB 494, titled the “Student Education Loan Servicing, Licensing, and Protection Act of 2022,” which will require student education loan servicers to be licensed in Kentucky.  The Act applies to...more

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