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Licensing Rules State and Local Government Financial Services Industry

Venable LLP

Chalk Talk: Are Sports Prediction Markets Just Unregulated Gambling in Disguise?

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Welcome to Chalk Talk, your legal playbook for the ever-evolving sports industry. Each month, our Sports Law team will draw up the X's and O's behind the legal, policy, and regulatory issues impacting your business. We'll...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 64: Navigating Multistate Licensing and Supervision in a Digital Era

RegFi co-hosts Jerry Buckley and Sherry Safchuk are joined by Orrick partner Jedd Bellman, former Maryland Assistant Commissioner of Financial Regulation, for a deep dive into the evolving role of state regulators in...more

Brownstein Hyatt Farber Schreck

Colorado Enacts the Model Money Transmission Act

On April 18, 2025, Colorado enacted the Model Money Transmission Modernization Act (MTMA) (HB 25-1201), which repeals and replaces the state’s previous Money Transmitters Act. The law updates standards for the licensing,...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

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

Ward and Smith, P.A.

The North Carolina Board of CPA Examiners: A Licensed Professional User's Guide

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As the governing body for Certified Public Accountants ("CPAs"), the Board upholds rigorous standards of practice, oversees the licensing process, and enforces compliance with ethical rules and regulations. For both aspiring...more

Hudson Cook, LLP

State Licensing Pitfalls Mortgage Servicers Must Beware

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In many states, a company that services a residential mortgage loan by collecting payments from borrowers must hold a mortgage servicer license. What can come as a surprise, however, is that those licenses can also apply to...more

Allen Matkins

A Critical Prepositional Phrase Is Missing From This California Statute

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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

Sheppard Mullin Richter & Hampton LLP

Wisconsin Signs Earned Wage Access Bill into Law

On March 21, Wisconsin enacted into law Assembly Bill 574, positioning it as the third state, following Nevada and Missouri, to establish a comprehensive regulatory framework for earned wages access (EWA) services and...more

Seyfarth Shaw LLP

The Week in Weed: March 2024 # 3

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we note that New York Governor Hochul has had just about enough of the problems with cannabis licensing in...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

Orrick, Herrington & Sutcliffe LLP

Ohio will grant occupational licenses to applicants experienced in another state

On January 2, the Ohio governor signed SB 131, which, among other things, requires “an occupational licensing authority to issue a license or government certification to an applicant who holds a license, government...more

Ballard Spahr LLP

Kentucky enacts licensing requirement for servicers of private and federal student loans

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Kentucky recently enacted HB 494, titled the “Student Education Loan Servicing, Licensing, and Protection Act of 2022,” which will require student education loan servicers to be licensed in Kentucky.  The Act applies to...more

Sheppard Mullin Richter & Hampton LLP

DFPI Approves EWA Provider

On February 11, the California DFPI issued an opinion letter in response to an EWA provider’s request for a specific ruling from the DFPI about whether the company’s EWA solution is subject to licensure under the California...more

Miles & Stockbridge P.C.

Collection Agency Licensing and Exemptions

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With the new collection agency rule of the Consumer Financial Protection Bureau (“CFPB”) having taken effect on November 30, 2021, we thought we could help round out your understanding of the collection agency laws by...more

Bradley Arant Boult Cummings LLP

The Twelve Days of Renewals

On the first day of renewals the NMLS brought to me, system issues and lock outs. Yes, the 2021 Renewal season brought no holiday joy to either regulator or industry users. The first twelve days did present challenges with...more

Miles & Stockbridge P.C.

Will You Need a License to Hold MSRs in Maryland?

The question of whether a state mortgage finance licensing obligation arises to acquire and hold mortgage loans or mortgage loan servicing rights has often generated confusion and raised questions among mortgage finance...more

Morrison & Foerster LLP

Louisiana Becomes Second State To Require Virtual Currency Licensing

Developments in virtual currency regulation have been top-of-mind with recently announced initiatives from the New York Department of Financial Services. Companies engaging in virtual currency activity should also, however,...more

Morrison & Foerster LLP

Are You A Money Transmitter In South Dakota? In Delaware?

One of the defining aspects of the payments revolution of the past few years—at least from a regulatory perspective—has been the question of whether a particular payments service is subject to regulation as money...more

Ballard Spahr LLP

Alaska Exempts Nonprofit Organizations From Mortgage Lender Licensing Requirements

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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

Stinson LLP

Missouri Financial Institutions Must Prepare for Impending Marijuana Banking Challenges

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In November 2018, Missouri voters passed Amendment 2, setting in motion state regulated medical marijuana. Over the last month, the Missouri Department of Health & Senior Services (DHSS) began approving license applications...more

Ballard Spahr LLP

New Jersey Mortgage Servicer License Applies to Holders of Mortgage Servicing Rights

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The New Jersey Department of Banking and Insurance recently issued a bulletin to provide guidance relating to the licensing and registration of mortgage servicers under the New Jersey Mortgage Servicers Licensing Act. The...more

Ballard Spahr LLP

NMLS Reinstatement Period Now Open Through February 29

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The NMLS Reinstatement Period began on January 2, 2020, and will end on February 29, 2020. This period allows individuals and companies that failed to renew their licenses by December 31 to request renewal. ...more

Ballard Spahr LLP

Georgia and Colorado Address MLO Temporary Authority to Operate

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Following receipt and consideration of three written comments on proposed rules distributed on November 18, 2019, the Georgia Department of Banking and Finance adopted final rules on December 20, 2019, that establish...more

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