On June 29, 2023, Connecticut’s Governor signed into law Substitute Senate Bill No. 1033 which makes significant changes to the state’s Small Loan Act. The new law takes effect on October 1, 2023....more
On January 17, 2023, House Bill No 2389 was offered to re-enact sections 6.2-1600 (Definitions) and 6.2-1607 (Licenses; places of business; changes) of the Code of Virginia with proposed amendments that would permit employees...more
2/27/2023
/ Employer Liability Issues ,
Financial Services Industry ,
Labor Reform ,
Mortgage Brokers ,
Mortgage Lenders ,
Proposed Legislation ,
Regulatory Agenda ,
Remote Working ,
State Labor Laws ,
Telecommuting ,
Virginia
The Washington Department of Financial Institutions has adopted regulations effective December 31, 2022 to implement amendments to the Consumer Loan Act permitting licensed companies to allow licensed mortgage loan...more
The Washington Department of Financial Institutions has adopted regulations effective December 31, 2022 to implement amendments to the Consumer Loan Act permitting licensed companies to allow licensed mortgage loan...more
On November 3, 2022, Pennsylvania enacted Act No. 142, effective immediately. The Act modifies the existing statutory provisions permitting remote work by revising the definition of “remote location” set forth in section in...more
We previously reported that the Oregon Division of Financial Regulation (the Division) amended its administrative rules pertaining to branch licensure to authorize remote work for licensed loan originators and employees. The...more
Following up on our previous articles reporting on recent state developments regarding work from home...more
There continues to be a trend towards extending, and in some cases, codifying through regulation or statute, emergency COVID-19 guidance enabling work from home. Most recently...more
The Connecticut Department of Banking (“Department”) has issued a temporary cease and desist order (“Order”) that directs SoLo Funds, Inc., (“SoLo”) a fintech company that uses peer-to-peer technology to assist consumers in...more
Connecticut’s Banking Commissioner signed an order that permits individuals engaged in certain licensable activity on behalf of certain consumer credit licensees to work from remote office locations not licensed as branch...more
In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work from home arrangements are permissible under their existing licensing requirements and/or (2) are granting...more
In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work from home arrangements are permissible under their existing licensing requirements and/or (2) are granting...more
In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work from home arrangements are permissible under their existing licensing requirements and/or (2) are granting...more
In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work from home arrangements are permissible under their existing licensing requirements and/or (2) are granting...more
In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work from home arrangements are permissible under their existing licensing requirements and/or (2) are granting...more
In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work from home arrangements are permissible under their existing licensing requirements and/or (2) are granting...more
Updated June 16, 2020 -
In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work from home arrangements are permissible under their existing licensing requirements...more
In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work from home arrangements are permissible under their existing licensing requirements and/or (2) are granting...more
6/7/2020
/ Business Continuity Plans ,
Business Interruption ,
Consumer Financial Products ,
Coronavirus/COVID-19 ,
Financial Services Industry ,
Licensing Rules ,
Mortgage Lenders ,
Mortgages ,
Popular ,
Remote Working ,
Telecommuting
In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work from home arrangements are permissible under their existing licensing requirements and/or (2) are granting...more
In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work from home arrangements are permissible under their existing licensing requirements and/or (2) are granting...more
In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work from home arrangements are permissible under their existing licensing requirements and/or (2) are granting...more
In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work-from-home arrangements are permissible under their existing licensing requirements and/or (2) are granting...more
3/17/2020
/ Best Practices ,
Business Continuity Plans ,
China ,
Consumer Financial Products ,
Coronavirus/COVID-19 ,
Crisis Management ,
Emergency Management Plans ,
Financial Services Industry ,
Flexible Work Arrangements ,
Health and Safety ,
Infectious Diseases ,
Mortgage Lenders ,
Public Health ,
Telecommuting ,
Workplace Safety
Following receipt and consideration of three written comments on proposed rules distributed on November 18, 2019, the Georgia Department of Banking and Finance adopted final rules on December 20, 2019, that establish...more
1/10/2020
/ Advertising ,
Consumer Financial Products ,
Consumer Lenders ,
Disclosure Requirements ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Licensing Rules ,
Limited Authority ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgages ,
New Amendments ,
Recordkeeping Requirements ,
Regulatory Requirements ,
Rulemaking Process ,
State and Local Government
The CFPB recently published SAFE Act FAQs addressing temporary authority.
The CFPB identifies the following categories of loan originators under the SAFE Act, as amended by the Economic Growth, Regulatory Relief, and...more
The NMLS Resource Center created a web page focused on Temporary Authority to Operate. The page features Frequently Asked Questions, a demonstration on how to obtain temporary authority to operate on the NMLS, links to NMLS...more