On March 10, the New York State Department of Financial Services issued several industry letters related to the novel coronavirus known as “Covid‑19.” Two of those letters require responses from New York regulated institutions no later than April 9, 2020.
On March 5, the governor signed HB 4353, which creates “a rational nexus requirement between prior criminal conduct and initial licensure decision making,” to guide commissioners or commissions with licensing authority.
Guidance notes the ability for licensed individuals to work remotely and other exceptions to the usual rules to ensure continuity of operations.
Among other things, SB 28 outlines reasons why an application for a license may be denied and sets forth licensure exemptions.
The MSB Model Law is a primary part of CSBS’s Vision 2020 initiatives, intended to modernize state regulation of non-banks and fintech firms.
Debbie Stopeck, a senior program manager at APPROVED, shares her unique insights from a career spanning nearly four decades in licensing at the California DBO. [Checkpoint Webcast]
There are some quickly-approaching deadlines for reports and financial statements filed via the NMLS.
CRMLA licensees are required to file an annual report with the California DBO no later than March 1, 2020. Some lenders must also file a Holden Act report by March 31, 2020
It is important to properly surrender a license that is no longer required to effectively terminate the issuing regulator’s supervisory authority. Here are a few key things to know about surrenders.
The Dec. 27 advisory stated that consumers may not be obligated to pay finance charges on consumer credit transactions purchased, acquired, or otherwise assigned to retail credit sellers that have not filed applicable notifications.
The DBO does not grant filing extensions, and missing the March 15 deadline may result in monetary penalties and/or suspension or revocation of the license.
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”
The DBO had initially denied the company’s license application in December 2019 and issued a statement of issues explaining its reasoning.
Finding out that your license application has been approved is a celebratory occasion, with the news delivered, in some cases, in the form of a license certificate. Here are a few key things to know about certificates.
Gov. Newsom’s proposal would include the creation and administration of the California Consumer Protection Law through expansion of the California DBO
Related guidance issued after determining the Minnesota-based company had already been making unregulated loans to California consumers in violation of the CFL.
Governor Cuomo’s proposal would expand the entities subject to NYDFS’ enforcement authority and harmonize state regulator authority to bring UDAAP actions.
This webcast was held in conjunction with the public launch of our licensing technology platform.
Our panel shares best practices and tricks of the trade to prepare for periodic reports coming up in the first quarter of 2020. [Checkpoint Webcast]
On Jan. 1, 2020, the NMLS will convert Nevada mortgage broker licenses and Nevada mortgage banker licenses to Nevada mortgage company licenses.