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Licensing Rules Financial Institutions

Latham & Watkins LLP

Hong Kong’s Stablecoin Regime Comes Into View

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Taking effect in August 2025, the new legislation will bring issuers of fiat-referenced stablecoins into the regulatory perimeter. By Simon Hawkins, Adrian Fong, and Sam Maxson On 21 May 2025, the Legislative Council of Hong...more

Orrick, Herrington & Sutcliffe LLP

Montana revises its appraiser licensing regulations

On May 13, the governor of Montana signed into law HB 872 to amend the state’s regulations concerning appraiser licensing. The act clarifies that licensed or certified real estate appraisers can offer evaluations to financial...more

Seyfarth Shaw LLP

Recent Passing of Hong Kong Stablecoins Bill

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On May 21, 2025, Hong Kong’s Legislative Council passed the Stablecoins Bill, establishing a regulatory framework for stablecoins–cryptocurrencies whose value is tied to an external asset or commodity. This marks an important...more

Walkers

Setting up shop: A new manager's guide to establishing an investment management firm in Jersey

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Looking to establish an investment management firm in the Channel Islands? This guide, the second in our series, sets out the key steps and considerations for setting up your business in Jersey - a world-class financial...more

Fox Rothschild LLP

At Stake - April 2025

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The Illinois Gaming Board (IGB) held its monthly meeting on Thursday, April 24, 2025. The meeting was hybrid with in-person accessibility at 160 N. LaSalle St., 5th Floor Auditorium and via livestream. Board members present...more

Orrick, Herrington & Sutcliffe LLP

Colorado enacts its Money Transmission Modernization Act

On April 16, the Colorado General Assembly enacted HB 25-1201, which repeals the state’s current Money Transmitters Act and replaces it with the Money Transmission Modernization Act (the “Act”), which is based on the model...more

Hudson Cook, LLP

Alaska's Anti-Evasion Bill: A Threat to Small Business Lending and Modern Bank-Fintech Partnerships

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A number of states have considered - and some have enacted - laws to regulate strategic partnerships between banks and technology companies that act as service providers....more

Mayer Brown Free Writings + Perspectives

Refresher: EU Capital Requirements Directive 6 (“CRD6”) – What Cross-Border Financial Institutions Need to Know

Many US and other non-EU financial institutions which lend or undertake trade finance business on a cross border basis into Europe do so in reliance upon exemptions under local law.  These exemptions typically permit these...more

A&O Shearman

FCA invites applications for a bond consolidated tape provider

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The UK Financial Conduct Authority (FCA) has published a tender notice and related tender documents for the appointment of a bond consolidated tape provider (CTP). The tender documents explain the award process and how to...more

Orrick, Herrington & Sutcliffe LLP

Massachusetts enacts a new act on money transmission

Recently, the Governor of Massachusetts signed into law H.4840 creating Chapter 169B: The Money Transmission Act. The Act is designed to regulate money transmission especially through payment apps. The bill repeals...more

Sheppard Mullin Richter & Hampton LLP

Maryland Expands Licensing Requirements for Mortgage Loan Assignees

On January 10, 2025, the Maryland Office of Financial Regulation (OFR) issued guidance significantly expanding licensing requirements for assignees of residential mortgage loans in Maryland. The guidance stems from an April...more

Mayer Brown

Maryland Guidance Applies Licensing Requirements to Assignees of Residential Mortgage Loans

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On January 10, 2025, the Maryland Office of Financial Regulation (OFR) issued formal guidance asserting that assignees of residential mortgage loans—including certain “passive trusts” that acquire or obtain assignments of...more

Orrick, Herrington & Sutcliffe LLP

Washington State issues interim guidance on its Predatory Loan Prevention Act

Recently, Washington State’s Department of Financial Institutions (DFI) issued interim guidance on its Predatory Loan Prevention Act (PLPA), which became effective on June 6, 2024 and amends the state’s Consumer Loan Act...more

Walkers

Global Legal Insights Fintech 2024: Jersey chapter

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Financial technology is already well established in Jersey, and firms are embedding technological solutions which enhance their products and services, increase efficiencies, and provide greater transparency. Originally...more

Stikeman Elliott LLP

Recent Regulatory Developments Impacting the Insurance Sector in Québec

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Over the past few months, there have been a number of regulatory developments in Québec which will have an important impact on the insurance sector. These include: (i) clarifications on how new French language requirements...more

Mayer Brown

Wisconsin Expands Scope of Consumer Loan Licensing Provisions

Mayer Brown on

In addition to the states that, similar to Washington, have adopted “true lender” provisions, several states have recently enacted changes to their consumer loan licensing laws that expand the scope of the licensing...more

Allen Matkins

A Critical Prepositional Phrase Is Missing From This California Statute

Allen Matkins on

It is a peculiar hubris of California's legislators that they often presume to extend the application of the state's laws beyond its legal borders.  Corporations Code Section 2115, for example, presumes to apply multiple...more

Hudson Cook, LLP

New York Financing Arrangements Bill Would Have Major Implications for Commercial Financing

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A bill before the New York State Assembly would, if passed, have major implications for a variety of financing transactions in the Empire State. Titled the End Loan Sharking Act, Assembly Bill 9585 would subject a variety of...more

Ballard Spahr LLP

South Dakota Regulator Requires BSA/AML Compliance for Money Lender Licensees and Non-Residential Mortgage Lenders

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The South Dakota Division of Banking issued a Memorandum notifying all licensed money lenders and non-residential mortgage lenders of their Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) obligations under a 2020 Final...more

Hudson Cook, LLP

Florida Regulator Clarifies Money Transmitter Licensing Exemptions (or lack thereof)

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Among the many state licenses that can impact financial services companies, money transmitter licensing can be among the harder to figure out. In addition to uncertainties about digital currency and developing technologies,...more

Ballard Spahr LLP

Amendments to Ohio’s Administrative Rules Relating to Residential Mortgage Lending

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The Ohio Department of Commerce, Division of Financial Institutions is amending the rules that implement the state’s Residential Mortgage Lending Act. The Division is seeking preliminary feedback on the administrative rules,...more

McGlinchey Stafford

Podcast: Deep Dive Into Payments: Impacts of Money Transmission Laws [More with McGlinchey, Ep. 59]

McGlinchey Stafford on

The next item in McGlinchey's Deep Dive into Payments Series is a podcast on money transmission by attorneys Jeff Barringer, Amy Greenwood-Field, and Aaron Kouhoupt. Their discussion centers around the impacts of money...more

McGlinchey Stafford

Deep Dive Into Payments: Impacts of Money Transmission Laws

McGlinchey Stafford on

The next item in McGlinchey’s Deep Dive into Payments Series is on money transmission by attorneys Jeff Barringer, Amy Greenwood-Field, and Aaron Kouhoupt. Their discussion centers around the impacts of money transmission...more

Ballard Spahr LLP

Kentucky student loan servicer license application available on NMLS

Ballard Spahr LLP on

Last year, Kentucky enacted the Student Education Loan Servicing, Licensing, and Protection Act of 2022 (the “Act”), which requires student loan services to be licensed in Kentucky.  The Act took effect on July 13, 2023 (the...more

Hinshaw & Culbertson - Consumer Crossroads

Veto Override Brings Changes to North Carolina License Requirements for Consumer Finance Lenders and Servicers

Last month, the North Carolina General Assembly passed NC Senate Bill 331, which aimed to bring changes to the North Carolina Consumer Finance Act. Although Governor Roy Cooper had vetoed the bill, the state Senate voted to...more

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