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New York State Expands Participation in State Licensing Platform

Financial Services Superintendent Maria T. Vullo today announced that the Department of Financial Services (DFS) has taken another step to modernize its operations for nondepository institutions and will transition licensed lenders and sales finance companies to the Nationwide Multistate Licensing System and Registry (NMLS) on November 1, 2017.

“DFS is pleased to add licensed lenders and sales finance companies to the growing list of nonbank financial institutions, including fintech firms, that will benefit from the efficiencies and robust oversight that the NMLS platform provides for state regulators,” said Financial Services Superintendent Maria T. Vullo. “The Department is proud to continue our work with CSBS and our fellow state regulators in the ongoing modernization of financial services regulation, enhancing the strong regulatory framework created by states, and supporting industry innovation.”


Read More: NMLS and the State Licensing System

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