May 25, 2023



Welcome to Licensing Link, a 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

States Continue Trend to Permit Remote Work For Licensee Employees

Many industries continue to adapt to the prevalence of post-pandemic remote or hybrid work arrangements, and the consumer finance industry is no different. We discuss recent remote work guidance and legislation in California, Florida, Montana, and West Virginia. These four join the growing list of states that have authorized mortgage loan originators and consumer lenders to engage in remote work since the onset of the COVID-19 pandemic. Read More>>


Know Your CEO? New York Proposes Character and Fitness Requirements

On May 9, 2023, the New York Department of Financial Services (“NYDFS”) issued proposed guidance that would, if finalized, require New York-regulated banking institutions and non-depository financial institutions licensed or chartered by the NYDFS to perform continuing assessments of the character and fitness of their key personnel. We discuss some of the key points of the proposed guidance so that entities subject to supervision by the NYDFS can decide whether to submit comments on the proposal. The NYDFS has encouraged supervised entities to comment on the proposal by the June 30, 2023, comment deadline. Read more>>

Licensing link

Update on North Dakota’s New Mortgage Servicer Licensing Law

In our April 2023 Licensing Link, we noted that, effective August 1, 2023, North Dakota will require companies servicing residential mortgage loans to obtain a residential mortgage loan servicer license (See North Dakota House Bill 1068). The new servicer license provisions will be located in North Dakota’s statutes under the Residential Mortgage Loan Servicers provisions at North Dakota Century Code §§ 13-13-01 et seq. In this update, we share more about what we’ve learned so far from regulators. Read More>>


This month’s contributing authors are Anthony Jenkins and Brenda Robinson.

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
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).