NY Extends State CRA to Non-Depository Mortgage Lenders
New York has passed a law which will extend its state-level Community Reinvestment Act (NYCRA) to non-depository mortgage lenders, effective November 1, 2022. The existing... Read More
State Regulatory Developments
New York Requires Lenders to Provide Borrowers with Single Point of Contact
On November 3, 2021, the State of New York amended New York banking law to require lenders to provide delinquent borrowers with a single point... Read More
Utah Amends Residential Mortgage Practices and Licensing Rules
The Utah Department of Commerce’s Division of Real Estate recently amended its Residential Mortgage Practices and Licensing Rules in order to correct and clarify references... Read More
Texas Adopts Rules Amending Various Requirements for Licensees
The Finance Commission of Texas (Commission) recently adopted rules revising and clarifying certain licensing procedures applicable to licensed Mortgage Loan Companies and licensed Mortgage Bankers... Read More
Arkansas and Connecticut Begin Receiving Electronic Surety Bonds
On October 1, 2021, the Arkansas Securities Department began receiving new and converted Electronic Surety Bonds (ESBs) through NMLS for certain state licenses. Similarly, the... Read More
California Amends Provisions Regarding Power of Sale
California recently enacted Assembly Bill (AB) 175 which makes amendments to Senate Bill (SB) 1079 (enacted a year earlier). Among other matters, AB 175 specifies... Read More
California Passes Legislation Amending CCPA and CPRA
On October 5, 2021, Governor Gavin Newsom approved legislation amending the California Consumer Privacy Act of 2018 (CCPA) and the California Privacy Rights Act of... Read More
TN Announces 2021-2022 Annual Supervision Fee
The Tennessee Department of Financial Institutions recently announced its 2021-2022 annual supervision fees for non-depository financial institutions. The new fees are effective as of November 1, 2021,... Read More
California Passes Legislation Expanding Definition of “Personal Information”
On October 5, 2021, Governor Gavin Newsom of California approved legislation amending the Information Practices Act of 1977 (1977 Act), which will specifically impact agencies... Read More
CA Privacy Protection Agency Invites Preliminary Comments on Proposed Rulemaking
The California Privacy Protection Agency (CPPA) recently issued an Invitation for Comments to assist it in developing regulations in accordance with its authority under the... Read More
CA Laws for Debt Collection, Money Transfer Services, and Consumer Subscription Services Signed by Governor Newsom
California enacted six new laws in October expanding rights for consumers, including new disclosure and consumer notification requirements for debt collection and subscription services. The... Read More
CA Arbitration Invoicing Requirements for Consumer, Employee Agreements
California recently enacted Senate Bill 762 (SB 762), amending Cal. Civ. Code § 1657.1 and Cal. Code Civ. Proc. § 1281.97, to impose various requirements on invoicing... Read More
Industry News, including Federal Regulatory Developments, State Regulatory Developments and Litigation Developments, is for general information purposes only and is not in any way intended, nor shall it be construed, as legal advice, legal opinion or any other advice on any specific facts or circumstances. No person or entity (“Person”) should act or refrain from acting upon this information without seeking professional advice. No Person may rely on this information or its applicability to any specific circumstances. The information in Industry News, including Federal Regulatory Developments, State Regulatory Developments and Litigation Developments, is in no instance to be taken as an indication of completeness, applicability to a particular situation, or an indication of future developments or results.