Oklahoma regulator amends working from home guidance
The Department of Consumer Credit guidance sets forth data security standards that regulated entities must meet in order to satisfy the department guidance.
APPROVED Checkpoint: Key takeaways from NMLS Ombudsman meeting
For the first time ever, the recent NMLS Ombudsman meeting was virtual and focused on a single topic: remote work and supervision in a post-pandemic world.
New Jersey adds student loan servicer and other licenses to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”
CSBS announces single exam for money transmitters
The streamlined examination for money transmitters operating nationwide (i.e., in 40 or more states) will be known as “MSB Networked Supervision.”
Checkpoint Q&A: Remote examinations and complaints
Panelists from our recent webcast on examinations and complaints follow-up on audience questions that were not addressed during the program due to time limitations.
Renewals in a remote world [Webcast Archive]
This webcast covered a number of topics, including how to prepare for renewal, what to expect during the renewal period, state-specific requirements, and how the pandemic could affect the process this year.
California’s new consumer financial protection law
The California Consumer Financial Protection Law changes the name of the Department of Business Oversight and expands UDAAP and enforcement authority.
DBO reports installment lending by CA nonbanks increased 68% in 2019
The annual report covers the 2019 operations of finance lenders, brokers, and Property Assessed Clean Energy program administrators licensed under the California Financing Law.
DBO investigates auto title lender over out-of-state bank partnership
The California Department of Business Oversight announced a formal investigation into a California auto title lender to determine whether the lender is evading state interest rate caps through a recent partnership with a Utah-based bank.
Georgia adds installment lender and branch approval licenses to NMLS
New applicants and existing licensees may now make submissions for Georgia Department of Banking and Finance licenses directly through NMLS.
Vermont removes home state licensure requirement
With this development, the already short list of state financial services regulators enforcing such a requirement became significantly shorter.
Upcoming deadline: Annual continuing education for 2020
The NMLS annual renewal period is right around the corner and it’s certainly not too early for state-licensed mortgage loan originators to start fulfilling their annual continuing education requirements.
California addresses MTA licensing exemptions
The California Department of Business Oversight (CDBO) released two new opinion letters covering aspects of the California Money Transmission Act (MTA) related to the sale of foreign currency and the agent of the payee exemption.
Georgia adds installment lender and branch approval licenses to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”
Kansas extends remote work guidance for certain licensees
Remote work guidance was extended through Dec. 31 for mortgage companies, MLOs, supervised loan licensees, credit services organizations, money transmitters, and credit notification registrants.
Remote examinations and complaints [Webcast Archive]
This discussion covers how the pandemic has affected the traditional examination process, and updates from CSBS regarding the latest developments within the State Examination System (SES) and on managing complaints.
Connecticut extends work from home guidance
The Department of Banking issued a memorandum extending through December 31, 2020 with respect to various licensees temporarily working from home during Covid-19.
Arkansas extends work-from-home guidance
The Arkansas Securities Department extended interim regulatory guidance previously issued to licensed mortgage companies, MLOs, and branch managers.
Texas updates guidance for regulated lenders
The Texas Office of the Consumer Credit Commissioner issued updated guidance for regulated lenders navigating the Covid-19 crisis.