Exemptions, Regulatory Requirements, Consumer Financial Products

Federal Agencies Issue Order Granting Exemption for Financial Institutions on TIN Collection

Troutman Pepper Locke on 6/30/2025

The Office of the Comptroller of the Currency (OCC), alongside the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) (collectively, the agencies), with concurrence from the...more

Alaska Exempts Nonprofit Organizations From Mortgage Lender Licensing Requirements

Ballard Spahr LLP on 2/7/2020

The Alaska Department of Commerce, Community, and Economic Development recently adopted amendments to its mortgage lending regulations to exempt bona fide nonprofit organizations from the licensing requirement....more

Alaska Expands Mortgage Licensing Exemptions

Ballard Spahr LLP on 7/12/2019

As a result of a new Alaska law, HB 104, the following are exempted from mortgage loan originator requirements in the state: Employees of federal, state, or local government agencies...more

Minnesota Revises Licensing Requirements Effective August 1, 2019

Ballard Spahr LLP on 5/30/2019

Minnesota has revised its Residential Mortgage Originator and Servicer Licensing Act to provide an exemption from residential mortgage originator licensure requirements for a "manufactured home dealer" and "manufactured home...more

CFPB Publishes 2019 Final Lists of 'Rural' and 'Rural or Underserved' Counties

Ballard Spahr LLP on 2/25/2019

The CFPB has published its 2019 final lists of "rural" and "rural or underserved" counties on its website. The CFPB has previously posted lists of such counties for calendar years 2011-2018....more

Vermont exempts bank partners from loan solicitation license for commercial loans

Ballard Spahr LLP on 10/9/2018

We have been following closely efforts by state regulators, state legislatures and the courts to restrict, or in some cases prohibit, bank model lending programs, so the recent guidance from the Vermont Department of...more