A&B Abstract: Nevada recently adopted new regulations allow a natural person to obtain a license by endorsement to engage in business as a mortgage broker or mortgage agent, mortgage loan servicer, or escrow agent or agency, so long as such … [Continue reading] about Nevada Adopts Regulations for Licensure by Endorsement
New Jersey Joins Other States Regulating Student Loan Servicers
A&B Abstract New Jersey recently enacted its own version of a Student Loan Bill of Rights, which requires the licensing of any person acting “directly or indirectly” as a student loan servicer. In light of the growing number of states enacting … [Continue reading] about New Jersey Joins Other States Regulating Student Loan Servicers
North Carolina Enacts Servicemember Protections
A&B Abstract: North Carolina is the latest state to extend the protections of the federal Servicemembers Civil Relief Act ("SCRA"), 50 U.S.C. §§ 3901 et seq., to active duty members of its National Guard. What does the new law … [Continue reading] about North Carolina Enacts Servicemember Protections
Rhode Island Requires Licensure for Virtual Currency Business Activity
A&B Abstract: Effective January 1, 2020, Rhode Island will regulate virtual currency under its money transmission laws. Background Forty-nine states and the District of Columbia regulate money transmission. Almost all of those jurisdictions … [Continue reading] about Rhode Island Requires Licensure for Virtual Currency Business Activity
QM Patch Update: CFPB Proposes to Let Patch Expire
A&B Abstract The CFPB has issued an Advance Notice of Proposed Rulemaking regarding the fate of the “QM Patch,” indicating that it will not extend the “QM Patch” permanently. Advanced Notice of Proposed Rulemaking In a surprise development, on … [Continue reading] about QM Patch Update: CFPB Proposes to Let Patch Expire