State Licensing Renewal Period for 2020 is Underway

Regulators advise renewing early to avoid renewal delays.

12/3/2019 10:00 AM

AdvocacyNewsStateGovernment
State Licensing Renewal Period for 2020 is Underway

The Nationwide Multistate Licensing System (NMLS) license renewal period for individuals and businesses in debt collection is underway in most states from Nov. 1 through Dec. 31, 2019.

Individuals and businesses in debt collection, as well as mortgage lending, money transmission and consumer financial services, are required to maintain and renew their licenses through the Nationwide Multistate Licensing System.

While the licensing renewal period is open through the end of the year, state regulators encourage licensees to renew by Nov. 30 to avoid delays in having their renewal requests processed, according to a news release from the Conference of State Bank Supervisors (CSBS.)

“The benefit of licensees submitting their renewal requests early is they have a far greater chance of being approved in time to keep doing business starting January 1,” said Kelly O’Sullivan, chair of the NMLS Policy Committee and deputy commissioner of the Montana Division of Banking and Financial Institutions in the news release.

Typically, CSBS reports, more than 90 % of November renewal requests are approved by Dec. 31, but only about half of renewals requested after Dec. 15 are approved in time for licensees to do business on Jan. 1.

Visit the Annual Renewal Information Page through the NMLS Resource Center for more information on each state’s license renewal requirements as well as free renewal courses.

ACA International members may find more information on state licensing through ACA’s SearchPoint library under the licensing tab. Members must be logged in to ACA’s website to access SearchPoint documents.

For more information on how the ACA Licensing staff can assist with your licensing needs, please contact us at Licensing@acainternational.org or call (952) 926-6547.


Follow ACA International on Twitter @ACAIntl and @acacollector, Facebook and request to join our LinkedIn group for news and event updates. ACA International members are welcome to submit news items for possible publication to comm@acainternational.org. Visit our publications page for news submission guidelines and subscriptions to ACA Daily, Collector magazine and Pulse.

Advertising is available for companies wishing to promote their products or services. Be sure to visit the ACA Events Calendar on the Education and Training page to view our listing of upcoming CORE Curriculum and Hot Topic seminars featuring critical educational opportunities for your company.


Subscribe to ACA Daily NEWSROOM

State Licensing Renewal Period for 2020 is Underway

The Nationwide Multistate Licensing System (NMLS) license renewal period for individuals and businesses in debt collection is underway in most states from Nov. 1 through Dec. 31, 2019.

Individuals and businesses in debt collection, as well as mortgage lending, money transmission and consumer financial services, are required to maintain and renew their licenses through the Nationwide Multistate Licensing System.

While the licensing renewal period is open through the end of the year, state regulators encourage licensees to renew by Nov. 30 to avoid delays in having their renewal requests processed, according to a news release from the Conference of State Bank Supervisors (CSBS.)

“The benefit of licensees submitting their renewal requests early is they have a far greater chance of being approved in time to keep doing business starting January 1,” said Kelly O’Sullivan, chair of the NMLS Policy Committee and deputy commissioner of the Montana Division of Banking and Financial Institutions in the news release.

Typically, CSBS reports, more than 90 % of November renewal requests are approved by Dec. 31, but only about half of renewals requested after Dec. 15 are approved in time for licensees to do business on Jan. 1.

Visit the Annual Renewal Information Page through the NMLS Resource Center for more information on each state’s license renewal requirements as well as free renewal courses.

ACA International members may find more information on state licensing through ACA’s SearchPoint library under the licensing tab. Members must be logged in to ACA’s website to access SearchPoint documents.

For more information on how the ACA Licensing staff can assist with your licensing needs, please contact us at Licensing@acainternational.org or call (952) 926-6547.


Follow ACA International on Twitter @ACAIntl and @acacollector, Facebook and request to join our LinkedIn group for news and event updates. ACA International members are welcome to submit news items for possible publication to comm@acainternational.org. Visit our publications page for news submission guidelines and subscriptions to ACA Daily, Collector magazine and Pulse.

Advertising is available for companies wishing to promote their products or services. Be sure to visit the ACA Events Calendar on the Education and Training page to view our listing of upcoming CORE Curriculum and Hot Topic seminars featuring critical educational opportunities for your company.


Subscribe to ACA Daily NEWSROOM

Loading...

Loading...

Scroll to Top