NMLS Transition Update for Existing California Financing Law Licensees: CA DFPI Has Opened the NMLS Portal to Receive Transition Applications

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Buchalter

Following July 8, 2021’s Client Alert, the California Department of Financial Protection and Innovation (DFPI) posted its CFL Transition Checklist for existing California Financing Law licensees to begin the license administration transition over to the Nationwide Multistate Licensing System (NMLS) portal. The deadline for submitting CFL transition applications through the NMLS portal is December 31, 2021.

In addition, the CA DFPI has included in its CFL Transition Checklist a link to the agency’s new CFL Transition FAQ’s as well as the NMLS’ own standard step-by-step instructions for transitioning an existing state license over to the NMLS platform, entitled Transitioning An Existing Company License.

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