WBK Industry News - State Regulatory Developments

Louisiana to Impose Additional Continuing Education in Certain Circumstances

Louisiana recently passed a bill authorizing the Commissioner of the Office of Financial Institutions to impose additional continuing education classes (up to eight hours) on any residential mortgage originator or broker that the Commissioner finds “failed to adhere to reasonable standards of professional conduct while engaging in a residential mortgage lending activity that negatively impacted a consumer.”  The provisions are effective on August 1, 2022.