Rhode Island amends financial institutions code
The updates increase the minimum capital requirements for currency transmission licensees, among other things.
New York Fed releases paper on NBFI reliance on banks
According to the authors of the study, a holistic approach to the bank-NBFI relationship will be necessary to manage systemic risk and maintain financial stability.
DFPI proposes amendments to the California DCLA
Among other things, the amendments would clarify annual reporting requirements under the Debt Collection Licensing Act.
Nevada approves regulation on earned wage access
The regulation issued by the Department of Business and Industry, Financial Institutions Division establishes licensing fees, reporting requirements, and consumer protections.
New York issues judgment against crypto-asset firm
The stipulation and consent to judgement followed a May 20 settlement with the company for allegedly misleading investors on the risks of its program.
Ohio allows dual capacity in real estate transactions
Acting as both a mortgage professional and a real estate agent in the same transaction was originally banned to prevent conflicts of interest.
CFPB bans two companies for reverse mortgage servicing violations
The Bureau determined that the companies misrepresented loan defaults and failed to respond appropriately to borrower communications.
CFPB settles HMDA lawsuit with large mortgage lender for $3.95M
The Bureau’s complaint alleged repeated failure to comply with HMDA reporting requirements and the terms of a 2019 Consent Order.
FHFA approves Freddie Mac’s second mortgage pilot
The program to begin purchasing certain single-family closed-end second mortgages aims to boost affordable housing and community reinvestment efforts.
WI Adds Earned Wage Access Services Provider License to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
CT Adds Two New Licenses to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
New Way to Access NMLS License Checklists [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.