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Financial Services Law Insights and Observations

Nevada regulator requests institutions to work with customers affected by Covid-19

State Issues Covid-19 Nevada Licensing Consumer Finance

State Issues

On March 17, the Nevada Financial Institutions Division issued a letter requesting every licensee to develop a plan to outline efforts to “manage the current environment.” Efforts may include, among other things: waiving fees such as late fees, lowering interest rates, halting collection or repossession efforts, and offering payment accommodations such as forbearances to avoid delinquencies, repossessions, and negative credit reporting.

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