State Regulators See Increase in License Renewals for 2018
Washington, D.C. – The Conference of State Bank Supervisors (CSBS) announced that as of December 3, state regulators have approved roughly 337,000 requests for license renewals in the Nationwide Multistate Licensing System (NMLS) for 2018. This represents a nine percent increase, or more than 77,000 approvals, compared to the same time last year.
As of December 3, license renewal applications have been approved for over 24,000 companies, 39,000 branches, and 273,000 individuals. More than 600,000 non-depository licenses are managed in NMLS, which CSBS operates on behalf of state regulators.
“We’ve been diligently encouraging non-depository entities to submit renewal requests early to ensure their licenses will be approved by December 31,” said Kelly O’Sullivan, chair of the NMLS Policy Committee and deputy commissioner of the Montana Division of Banking and Financial Institutions. “We want licensees to be ready to do business at the start of the new year.”
The renewal period for licenses managed in NMLS started November 1, and continues through December 31. Licensees are strongly encouraged to complete the renewal process by December 31 to avoid the possibility of their licenses being terminated January 1, 2018. Licensed individuals can renew their license through the Annual Renewal Information page on the NMLS Resource Center.
Media Contact: Catherine Pickels, 202-728-5734, email@example.com
Twitter: @CSBSNews @NMLSInfo
The Conference of State Bank Supervisors (CSBS) is the national organization of bank 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.