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
As a result of a new Alaska law, HB 104, the following are exempted from mortgage loan originator requirements in the state:
Employees of federal, state, or local government agencies...more
Minnesota has revised its Residential Mortgage Originator and Servicer Licensing Act to provide an exemption from residential mortgage originator licensure requirements for a "manufactured home dealer" and "manufactured home...more
5/30/2019
/ Consumer Financial Products ,
Exemptions ,
Financial Services Industry ,
Licensing Rules ,
Manufactured Housing ,
Mortgage Servicers ,
Mortgages ,
Regulatory Oversight ,
Regulatory Requirements ,
SAFE Act ,
State and Local Government
North Dakota has modified the surety bond requirements under the Money Brokers Act. Presently, the law requires a surety bond in an amount not less than $25,000. N.D. Cent. Code Section 13-04.1-04.01(1). Effective August 1,...more
Noting, among other things, “retrenchment” on the federal level, the Maryland Financial Consumer Protection Act of 2018 (HB 1634) was signed into law on May 15, 2018. ...more