Both 2020 and 2021 have seen significant legal developments at the state level related to regulatory approvals required to engage in credit-related activities. State legislatures continue to expand their licensing and other regulatory requirements while state regulators are aggressively asserting their jurisdiction over consumer and commercial credit market participants. These developments have the potential to affect not only primary market actors but also investors, purchasers and other secondary market participants. Join Krista Cooley and Frank Doorley of Mayer Brown’s Consumer Financial Services team as they discuss recent state licensing and enforcement developments important to participants engaged in financing, purchasing or investing in consumer and small business credit, including:
- Mortgage licensing developments and proposed nondepository “prudential standards”
- California’s recently reconfigured and renamed Department of Financial Protection and Innovation and new Debt Collection Licensing Act
- Developments in state non-mortgage licensing
- New state laws requiring commercial finance disclosures
Listen to State Licensing Trends.