Texas updates home equity lending guidance
Several state regulatory agencies updated guidance on emergency measures for home equity lenders to consider in response to the COVID-19 pandemic.
The deadline for December renewal is coming soon [nmls.org]
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”
Texas updates guidance urging motor vehicle sales finance licensees to work with borrowers
The Consumer Credit Commissioner updated its advisory bulletin urging motor vehicle sales finance licensees to work with consumers during the pandemic.
Texas updates guidance for regulated lenders
The Consumer Credit Commissioner issued updated guidance for regulated lenders relating to the Covid-19 crisis, effective through December 31, 2020, unless withdrawn or revised.
DFPI addresses MTA licensing in new letter
The redacted opinion letter covered aspects of the Money Transmission Act related to the registered clearing house and payment processing service exemptions.
New Mexico Adds New Licenses to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”
2021 Annual Renewal Period Begins Nov. 1 [nmls.org]
Learn more about this topic and others in the NMLS Resource Center under “NMLS News.”
MD to Add Check Casher and Consumer Reporting Agency Registrations to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”
Reminder: Complete Annual Continuing Education for 2020 [nmls.org]
Learn more about this topic and others in the NMLS Resource Center under “NMLS News.”
NYDFS issues first “conditional Bitlicense”
NYDFS announced authorization for a digital payments company to launch a service for U.S. customers to buy, sell, and hold certain NYDFS-approved cryptocurrencies.
Oklahoma extends working from home guidance through end of year
On October 22, the Oklahoma Department of Consumer Credit extended, for the fifth time, its interim guidance to regulated entities on working from home (see here, here, here, here, and here for previous coverage). The guidance sets forth data security standards for regulated entities with employees working from home and also provides that the department…
MLO licensing in the coming decade [Webcast Archive]
This Checkpoint webcast covered the top 20 things you need to know about mortgage loan originator licensing in the ’20s.
Illinois adopts regulations for student loan servicers
The Department of Financial and Professional Regulation adopted regulations implementing provisions of the Student Loan Servicing Right Act related to licensing fees, operations, and supervision.
New Jersey now accepting student loan servicer licenses through NMLS
On September 15, the Department of Banking and Insurance began accepting applications for the NJ Student Loan Servicer license through NMLS.
Upcoming presentation: NMLS mortgage call report – Where’s NMLS 2.0?
Katy Ryan, APPROVED co-founder and Buckley partner, hosts a session on Oct. 27 as part of the QuestSoft Lending Compliance & Risk Management Virtual Conference.
California enacts the Debt Collection Licensing Act
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 the DFPI.
CSBS announces first MSB Accreditation
On September 28, the Conference of State Bank Supervisors announced that the Ohio Division of Financial Institutions received its first Money Service Business Accreditation.
California DBO now Department of Financial Protection and Innovation
The governor signed AB 107, an Assembly Budget Committee bill, which changes the name of the Department of Business Oversight to the Department of Financial Protection and Innovation (DFPI).
Rhode Island extends work from home guidance for lenders
The Department of Business Regulation, Banking Division, extended previous guidance issued to mortgage loan originators, lenders, loan brokers, and exempt company registrants.