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2016 Press Releases
Idaho Department of Finance Earns Banking Supervision Re-accreditation
California and Missouri Begin Using Uniform Mortgage Test; 50 State Agencies Now Using the Test
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CSBS Announces 2016 Community Bank Case Study Competition Participants
SRR Releases 2015 Annual Report
Colorado Begins Using Uniform Mortgage Test; 51 State Agencies Now Using the Test
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Scott Corscadden Named New NMLS Ombudsman
FFIEC Seeks Comments on Proposed Revisions
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Face Appointed to FFIEC State Liaison Committee
Lawson Elected as State Liaison Committee Chairman
Multi-State Non-Bank Supervision Groups Release Annual Reports
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2017 NMLS Renewal Campaign “Your License is Your Business” Off to Strong Start
FFIEC Streamlines “Call Report” for Small Institutions
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 11/1/2016 

Media Release

Conference of State Bank Supervisors
        1129 20th Street, NW, 9th Floor, Washington, DC, 20036

 Third Annual “Your License is Your Business Campaign” Launches Today  

 

Washington, D.C., - The Conference of State Bank Supervisors (CSBS) has announced that the State Regulatory Registry, LLC (SRR), operator of the Nationwide Multistate Licensing System (NMLS), has launched its third annual “Your License is Your Business” campaign, a nationwide effort to remind businesses and individuals working in non-depository financial services that “Your License is Your Business” and to encourage early renewal of licenses within the System.

Building on the success of previous “Your License is Your Business” renewal campaigns, CSBS seeks to educate businesses and individuals, which hold more than 510,000 licenses that are managed in NMLS, that submitting renewal requests in November as opposed to December significantly reduces the chance of a license being terminated on January 1, 2017.

“Nearly all renewal requests submitted in November are approved by year-end, resulting in no disruption in the ability to conduct business,” explained Sue Clark, Director, Regulatory and Consumer Affairs for the Vermont Department of Financial Regulation and Chair of the NMLS Policy Committee. “In 2015, nearly 94 percent of all renewal applications submitted by November 30th were approved by December 31,” said Clark. In comparison, only about 53 percent of license renewals requested after December 15 were approved by year-end.

NMLS makes renewing a license easy, and yet too many licensees lose their ability to operate in January because they wait until the last minute to complete professional requirements, such as continuing education courses or background checks, and submit their renewal request late in December.

Submitting a license renewal request takes only a few minutes and can save hours of work later if the license expires.  To renew a license through NMLS, all one needs to do is log into the System, review the license record, select the state agency or agencies and license type, pay the associated fees, and submit the renewal request.  Because licensees are expected to keep their license information up-to-date throughout the year, there is only a small amount of preparatory work to do at renewal for most licensees.

Visit the NMLS Twitter account @NMLSInfo for updates on where state-licensed individuals may go to learn more information and get important updates on renewal-related news, including key dates, education opportunities, information sources, and much more.

More information about renewing through NMLS can be found on the Annual Renewal Information page of the NMLS Resource Center.

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