Licensing Link

March 23, 2023



Welcome to the first edition of Licensing Link, a new periodic publication that will keep you informed on hot topics and new developments in state licensing laws, and provide practice tips and primers on important issues related to state licensing across the spectrum of asset classes and financial services activities. We look forward to you joining us for future editions!

Licensing link

Debt Settlement Company Licensing Could Be Coming to New York

Earlier this year, the New York Assembly introduced Bill No. A01730, which, if enacted, would require a “debt settlement company” to obtain a license from the New York Department of Financial Services before conducting business in New York. Read more>>


New York Introduces Legislation to License Broader Range of Commercial Finance Activities

In what has become somewhat of an annual ritual, the New York legislature has once again introduced a law to license certain providers and brokers of commercial-purpose financing with the introduction of Senate Bill 1450 (“SB 1450”) in January. Read more>>


This month’s contributing authors are Daniel Pearson and Grace Kim.

For more information about this topic, please contact the editors, Krista Cooley, Partner, Washington DC at and +1 202 263 3315 and Frank Doorley, Partner, Washington DC at and +1 202 263 3409.

For more than 20 years, our Financial Services Regulatory and Enforcement practice’s licensing team has helped clients engaged in lending and other consumer credit activities navigate every aspect of state licensing. We routinely undertake nationwide licensing and renewal efforts involving all manner of professional licenses for consumer credit-related activities, including mortgage lending, brokering or servicing, consumer lending and brokering, commercial mortgage and non-real estate-secured commercial or business activities, collections, money services or money transmitter businesses, sales finance activities, and real estate broker activities. We not only help companies evaluate the need for and obtain state licenses but also help steer them through license renewals, examinations and required reporting, changes of control, and license surrenders and provide other services that help companies remain in good standing with state licensing regulators.

Legal Update
Legal Update

Chambers USA 2022

Ranked Band 1 in: Financial Services Regulation Consumer Finance (Compliance)—also ranked in: Financial Services Regulation: Consumer Finance (Enforcement & Investigations) and Consumer Finance (Litigation).


8 Practice Groups of the Year in 2022, including Banking, Class Action, and Cybersecurity and Privacy; Firm of the Year 2016-2020.

Chambers Fintech 2023

Ranked Band 1 in FinTech: Payments & Lending (US)—also ranked in FinTech: Legal (US); Corporate, Securities & Financing (US); and Data Protection & Cyber Security (US).