Tim Lange to discuss state legislative developments at NMLS
The “Financial Services State Legislative Update” panel is part of the NMLS 2023 Annual Conference & Training in Phoenix, AZ.
Wyoming to regulate debt buyers as collection agencies
As a result, debt buyers will be regulated by the Wyoming Collection Agency Board beginning July 1, 2023.
New York AG continues crackdown on unregistered crypto trading platforms
The AG noted that this is one of the first times a regulator is making a claim in court that one of the largest cryptocurrencies available in the market is a security.
DFPI issues more proposed changes to Student Loan Servicing Act
The SLA provides for the licensure, regulation, and oversight of student loan servicers by the California Department of Financial Protection and Innovation.
Virginia to adopt electronic surety bond [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
NMLS reinstatement period ended Feb. 28 [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
New York AG sues crypto trading platform for failing to register
According to the AG, securities and commodities brokers are required to register with the state, which the respondent allegedly failed to do.
DFPI modifies CCFPL proposal
Comments on the proposed modifications related to commercial financial products and services are due March 15.
DFPI settles with student loan debt relief company
The settlement is part of the DFPI’s continued crackdown on student loan debt relief companies found to have violated California consumer protection laws.
Montana amends mortgage servicing laws
Among other things, the new act outlines provisions related to financial condition requirements, model state regulatory prudential standards for nonbank mortgage servicers, risk assessments, and licensee reporting requirements.
Illinois announces new consumer protections for digital assets, proposes new money transmitter licensing provisions
The Department of Financial and Professional Regulation announced several legislative initiatives to establish consumer protections for cryptocurrencies and other digital assets and provide regulatory oversight of the broader digital asset marketplace.
California reminds licensees of fiduciary duty requirements
Licensees who violate their fiduciary duties may face disciplinary action against their real estate license and/or MLO endorsement and may also expose themselves to civil liability.
New office location for Indiana Department of Financial Institutions [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
Checkpoint: Best practices for periodic reporting
Periodic reporting is often mandatory to maintain licensure, and most annual reports covering the previous calendar year are due on or before March 31.
Ohio will grant occupational licenses to applicants experienced in another state
The new legislation eases licensing burdens by allowing licensed professionals to apply for and be granted a license to work provided they meet certain criteria.
Louisiana Adds New License Types to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
Nevada Adds New Registration and License Type to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
Agenda Available for the 2023 NMLS Conference, April 3-6 [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
Orrick, Buckley Combine To Form Financial Services & Fintech Law Powerhouse
The strategic combination responds to demand from innovative companies and financial institutions for forward-looking regulatory and enforcement advice.
DFPI modifies Student Loan Servicing Act proposal
The changes provide for the licensure, regulation, and oversight of student loan servicers by the California agency.