CFPB releases report on state community reinvestment acts
The report finds that states play an active role in promoting reinvestment by institutions, but further review is necessary to understand these developments.
FHA updates guidance on sales comparison grid for manufactured homes
The update to the FHA’s rule affects how real estate appraisers will now appraise manufactured homes using the sales comparison approach (SCA) grid.
FSOC approves risk framework, nonbank determinations
FSOC adopted key changes in consideration of public comments on the analytic framework for financial stability risks and interpretive guidance on nonbank designations.
CFPB proposes rule to regulate fintech firms like banks
The rule would apply to firms offering services like digital wallets and payment apps and handling more than 5 million transactions per year.
Minnesota Money Transmission Modernization Act [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
Experience Survey Coming to NMLS Users [nmls.org]
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New York AG report details racial disparities in homeownership
The report finds that Black and Latino New Yorkers are “underrepresented” among mortgage applicants and identifies policy solutions that could reduce these disparities.
State Regulators Offer Tips to Prepare for NMLS Renewal [nmls.org]
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NMLS Maintenance Starting Oct. 31 at 9 p.m. ET [nmls.org]
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DFPI announces enforcement actions for unlicensed debt collection activity
The California regulator found four debt collectors in violation of the Debt Collection Licensing Act and California Consumer Financial Protection Law.
Checkpoint: NMLS renewals are quickly approaching
These tips and best practices can help you manage the process, which runs from November 1 through December 31 for all licenses managed on the Nationwide Multistate Licensing System & Registry.
California enacts requirements for digital asset businesses
New legislation establishes a licensing requirement for digital asset businesses and regulations for crypto kiosks.
Spec File for MCR Form Ver. 6 Now Available [nmls.org]
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Online Support Options Available – Save Time with Renewals [nmls.org]
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Mortgage Call Report Updates: Get Ready!
Learn more about the NMLS Mortgage Call Report, Version 6 (FV6) and what you can do to prepare your company before the January 2024 deadline.
California enacts two privacy bills
The new legislation amends the California Consumer Privacy Act of 2018 and the California Privacy Rights Act (CPRA) of 2020.
California enacts new data broker regulations
Among other things, the California Privacy Protection Agency is authorized to create a streamlined method for consumers to delete their collected information.
Chopra foreshadows expanding oversight over digital payments
The CFPB director spoke at a digital payments event and provided steps that would increase oversight to help protect consumers.
California extends commercial financing cost disclosure requirement
Covered providers offering commercial loans must continue to disclose the total cost of financing expressed as an annualized rate indefinitely.
Maryland Adds Student Financing Company to NMLS [nmls.org]
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