Washington, D.C. – The Conference of State Bank Supervisors (CSBS) today issued a request for public comment on proposed increases to processing fees for the Nationwide Multistate Licensing System and Registry (NMLS). If approved following the comment period, the proposed increase will be the first time these fees have changed since NMLS launched nationwide in 2008.

“NMLS has become a vital tool for the states, consumers, and the 600,000 industry users who depend on it,” said CSBS President and CEO Brandon Milhorn. “This proposal reflects our commitment to sustain and enhance NMLS while keeping fees as low as possible. The new fee structure will support a responsible and stable NMLS budget, while sharing the cost of system enhancements fairly with industry.”

NMLS processing fees apply to companies and individuals in the mortgage, debt, consumer finance, and money services businesses industries. The State Regulatory Registry Board of Managers, which governs NMLS operations, reviews NMLS fees annually.

The proposed NMLS fee increases are as follows:

NMLS Processing Fees for State Licensure

Fee changes are proposed for the Initial Set-Up or Application Processing Fee, the Annual Processing Fee, and the MLO Change of Sponsorship for State Licensure.

NMLS Processing Fees for Federal Registration

Fee changes are proposed for the Initial Set-Up or Application Processing Fee, the Annual Processing Fee, and the MLO Change of Employment Fee for Federal Registration.

View the proposal here. Refer to this FAQ for more information on the NMLS fee review process.         

State financial regulatory agencies, industry, and the public are invited to submit comments on the proposal by Monday, July 22 at 5 p.m. EDT. Comments can be submitted to [email protected].   

Contact: Vonnetta Cornish, 202-728-5752, [email protected] 

X: @CSBSNews

The Conference of State Bank Supervisors (CSBS) is the national organization of financial regulators from all 50 states, American Samoa, District of Columbia, Guam, Puerto Rico and U.S. Virgin Islands. State regulators supervise roughly three-quarters of all U.S. banks and a variety of non-depository financial services. CSBS, on behalf of state regulators, also operates the Nationwide Multistate Licensing System to license and register non-depository financial service providers in the mortgage, money services businesses, consumer finance and debt industries.