The Montana state legislature passed House Bill 107 on March 19, which changes the bond amount required for mortgage servicers to receive a license. Mortgage servicers are defined by the Nationwide Multistate Licensing System as…
With the enactment of Senate Bill 2093 on March 14, 2019, North Dakota collection agencies and money brokers are now subject to a $50,000 surety bond requirement. Previously, the bond amount was set at $25,000. Money brokers…
New regulations concerning requirements to become a licensed Kentucky consumer loan company through the Kentucky Department of Financial Institutions recently passed. Enacted on March 26, Kentucky House Bill 285 requires consumer loan companies to post…
Passed on March 26, 2019, House Bill 1440 affects the required surety bond amount for Indiana loan brokers prior to receiving or renewing a license. Previously, the amount of the surety bond had to be between $50,000…
On February 21, 2019, the state of Wyoming passed House Bill 30 to raise the amount of the surety bond required for trust companies from $100,000 to $1 million. This surety bond is required to…