News & Analysis as of

NMLS California

Manatt, Phelps & Phillips, LLP

California Commercial Financing Registration Requirement Passes Senate

Increased regulation of commercial financing shows no signs of stopping. California SB 1482, which would require commercial financing providers and brokers to register with the California Department of Financial Protection...more

Allen Matkins

NMLS Slowdown Frustrates Debt Collector License Applicants As Application Deadline Looms

Allen Matkins on

California had been one of 16 states that did not require licensing of debt collectors.  That changed last year with the enactment of the Debt Collection Licensing Act.  2020 Cal. Stats. ch. 163 (SB 908).   The law takes...more

Sheppard Mullin Richter & Hampton LLP

NMLS Transition for California Financing Law Licensees: December 31, 2021 Deadline Update

Licensees under the California Financing Law not currently on NMLS must transition onto NMLS by December 31, 2021. All licensees not yet on NMLS must establish an account in NMLS and transmit their information to the...more

Sheppard Mullin Richter & Hampton LLP

NMLS Transition for California Financing Law Licensees: December 31, 2021 Deadline

Licensees and applicants under the California Financing Law are reminded of the following: • Licensees under the California Financing Law not currently on NMLS must transition onto NMLS by December 31, 2021. • New...more

Buchalter

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

Buchalter on

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...more

Buchalter

CA DFPI Issues New Round of Proposed Rules for Transitioning Existing CA Financing Law Licensees to the NMLS Platform

Buchalter on

Back in November 2020, we reported the CA Department of Financial Protection and Innovation (“CA DFPI”) as administrator of the California Financing Law (CFL) License had published a third round of proposed rules to...more

Buchalter

California DFPI Publishes Notice of Proposed Rulemaking for Debt Collector Licensing

Buchalter on

As a follow up to my article on December 4, 2020, reporting that California enacted SB 908 – the Debt Collection Licensing Act, Financial Code Division 25, Sections 100000, et seq., the administering agency Department of...more

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