NMLS to manage Maryland’s Debt Settlement Services Provider Licenses

MARYLAND — The Commissioner of Financial Regulations will begin accepting electronic surety bonds for Debt Settlement Services Provider registration through the Nationwide Multistate Licensing System (NMLS) starting Aug. 1, 2019. As of July 10, a conversion deadline for existing surety bonds is to be determined, according to the NMLS website. Maryland requires a $50,000 bond to … Read more

SD Money Transmitter Licenses to be Managed by NMLS

SOUTH DAKOTA — Electronic surety bond tracking for the state’s Money Transmitter License will be managed through Nationwide Multistate Licensing System (NMLS) starting July 1 of 2019, according to the South Dakota Division of Banking. Current licensees need to convert all existing surety bonds to NMLS by submitting an electronic surety bond by Dec. 31, … Read more

Illinois, Tennessee departments to receive new electronic surety bonds in NMLS

ILLINOIS — The Department of Financial and Professional Regulation will begin May 24 receiving new electronic surety bonds through Nationwide Multistate Licensing System (NMLS) specifically for exempt entity processor registration. The exempt entity processor bond deals with rules laid out under Section 3-1 of the state’s Residential Mortgage License Act of 1987. NMLS is the … Read more

Car wash group drops suit to stop NYC bond law

New York City — The Association of Car Wash Owners has abandoned its lawsuit to stop the 2015 Car Wash Accountability Law, the Bill de Blasio administration announced Feb. 11. The association’s move to drop its suit comes after its loss in December when an appeals court upheld the labor-backed law, which including a two-tier … Read more

Dentists must comply with new DMEPOS bond rules

Dentists who provide durable medical equipment and who participate in a CMS billing program now must submit a DMEPOS surety bond, according to a new requirement the Centers for Medicare and Medicaid Services released in Nov. 2018. A DMEPOS surety bond is a license and permit surety bond required by CMS for all suppliers of … Read more