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Enforcement Actions

See enforcement actions taken by the Division of Consumer Services.

Message from Charlie Clark

No big legislative changes for 2019 session . . . yet. Another legislative session has begun. What will this session bring to the laws you comply with? When Consumer Services requests legislation, it is often because we have found a statute to be inadequate for today’s needs. It may be that existing law no longer adequately protects consumers, no longer works for businesses providing the financial service, or no longer adequately captures either technological changes or the business norm for the industry.

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Multistate MSB Licensing Agreement

The Multistate MSB Licensing Agreement (MMLA) program is currently undergoing a second pilot program. The results thus far have been promising. The first pilot program had a duration of four months with three companies participating. Between the three companies, 27 licenses were issued, three exemptions were granted, and there are two potential licenses remaining.

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Residential Mortgage Loan Servicing News

During the fourth quarter of 2018, the residential mortgage loan servicing team conducted 16 examinations. Two exams were conducted onsite, the remainder were offsite. Overall, the trend is more “2” and “4” rated exams and fewer “1” rated exams than the previous quarter. The previous quarter featured seven “1” rated exams. There were no “4” rated exams last quarter.

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Federal S.A.F.E. Act Amendments for Certain MLOs

Congress passed legislation amending the federal S.A.F.E. Act, the federal licensing and registration requirement for mortgage loan originators (MLO). The amendments generally provide temporary authority so certain unlicensed mortgage loan originators (MLO) can conduct MLO activities while waiting for a state to issue a license. The temporary authority is for registered MLOs moving to state licensing and for state licensed MLOs moving from one state to another.

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Rulemaking Updates

Updates for Student Education Loan Servicers, Consumer Loan Act.

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Mortgage Industry Updates

Updates for the mortgage industry.


Check Casher and Seller Updates

Updates for Check Cashers and Sellers.

Sorting Money

Escrow Updates

Updates for the Escrow industry.

Escrow Document

Money Services Update

Updates for the Money Services industry.