Vermont Sets 2019 Tax Interest Rates
The Vermont Commissioner of Taxes issued a memorandum setting forth the annual interest rates which will apply to tax underpayments and overpayments in 2019. The... Read More
State Regulatory Developments
PA Adjusts Definition of ”Base Figure” in its Loan Interest and Protection Law
On November 3, 2018, the Pennsylvania Department of Banking and Securities (the “Department”) adjusted the definition of “base figure” in the Pennsylvania Loan Interest and... Read More
Rhode Island Adopts Home Loan Protection Act and Mortgage Foreclosure Disclosure Provisions
The Rhode Island Department of Business Regulations is reformatting all of its current banking regulations in order to incorporate them into the Rhode Island Code... Read More
Tennessee Announces 2018-2019 Annual Supervision Fee
The Tennessee Department of Financial Institutions has announced its 2018-2019 annual supervision fee for non-depository financial institutions. The new fees are effective November 1, 2018,... Read More
Texas Amends Consumer Lending Regulations
The Texas Office of Consumer Credit Commissioner (OCCC) issued amended regulations as part of a general review and update to the state’s consumer lending rules. ... Read More
Michigan Publishes Mortgage Licensing Fees for 2019
The Michigan Department of Insurance and Financial Services has published its annual licensing fee schedule applicable to Michigan mortgage lenders, brokers, servicers, and loan originators.... Read More
New Jersey Consumer Protection Division Settles Securities Law Investigation
On October 5, 2018, a Minneapolis financial firm with branch offices in New Jersey agreed to settle an investigation into the sale of alternative investments... Read More
Oklahoma Amends Consumer Loans Provisions
Effective November 1, 2018, Oklahoma’s consumer loan provisions will be amended to (1) allow the charge of convenience fees for the use of certain electronic... Read More
Colorado Amends Pre-Licensing Education Requirements for Mortgage Loan Originators
The Colorado Department of Regulatory Agencies, Division of Real Estate, recently amended the rules governing the pre-licensing education requirements for mortgage loan originators. With regard... Read More
CA Amends Financing Law to Add Disclosure Requirements for Certain Commercial Loans of $500,000 or Less
California recently enacted Senate Bill 1235, which amends the California Financing Law to add additional disclosure requirements for commercial loans of $500,000 or less (which... Read More
CA Amends Real Estate Law to Update Terminology and Conform to Current Industry Practices
California recently enacted Assembly Bill 2884, which amends the state’s Real Estate Law to update terminology in the statute and conform the statute to current... Read More
New York’s New Requirements for Sexual Harassment Prevention Policies Are Effective Now
All New York employers are now required to adopt or modify written sexual harassment prevention policies consistent with new minimum standards from the state Department... Read More
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