CSBS releases Uniform Money Transmission Modernization Act
The act is intended to replace 50 sets of state-specific money transmitter laws and rules with a single set of nationwide standards and requirements designed by state and industry experts.
CSBS releases model for the future of payments regulation [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
Get prepared for state license renewal [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
Illinois amends Real Estate Appraisal Licensing Act
The amendments create provisions regarding inactive licenses, citations, and illegal discrimination, among other things.
DFPI: Debt collection licensing applications due before Jan. 1
On September 1, the California DFPI announced that all debt collectors operating in California can apply to be licensed.
DFPI issues second Debt Collection Licensing Act proposed rulemaking
The act requires a person engaging in the business of debt collecting in the state to be licensed and provides for the regulation and oversight of debt collectors by DFPI.
DFPI addresses MTA licensing exemptions
Several new opinion letters cover aspects of the California Money Transmission Act related to virtual currency and agent of payee rules.
DFPI’s CFL final regulations take effect Oct. 1
The regulations, among other things, amend existing licensing rules to transition all licensees under the CFL to registration through NMLS.
Illinois amends state Human Rights Act
Changes include provisions regarding third-party loan modification service providers and become effective January 1, 2022.
Strategy & Technology: A dynamic duo for successful regulatory exams [Webcast Archive]
We were joined by Winnow Solutions to discuss the current regulatory climate for examinations and how the right combination of strategy and technology can improve the process.
DFPI grants license to ISA servicer
The agreement reflects DFPI’s decision to “treat these private financing products as student loans” for purposes of the California Student Loan Servicing Act (SLSA).
DFPI proposes small-dollar lending pilot
The Pilot Program for Increased Access to Responsible Small Dollar Loans is administered by DFPI and established under the California Financing Law.
Reminder: Complete annual continuing education for 2021 [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
APPROVED co-founder Katy Ryan to discuss state licensing challenges
The panel discussion on Tuesday, Sept. 14 is part of the Mortgage Bankers Association’s Regulatory Compliance Conference 2021 in Washington, D.C.
Nevada allows NMLS licensees to go paperless
Licensees on NMLS are no longer required to mail certain original application documents (e.g., lease agreement, office photos) to the Nevada Department of Business and Industry.
Oregon enacts student loan servicer provisions
Among other things, the new legislation requires persons servicing student loans to obtain a license from the Oregon Department of Consumer and Business Services.
Massachusetts issues guidance to debt collectors and student loan servicers
The Division of Banks published guidance that defines unfair or deceptive acts or practices for entities servicing loans or collecting debts within the commonwealth, and provides licensing, registration, and supervision procedures.
Connecticut amends certain mortgage licensing provisions
The new legislation affects certain mortgage licensing provisions in the state’s banking statutes, with changes going into effect Oct. 1.