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Financial Services Law Insights and Observations

Work-from-home no action position extended by Connecticut banking commissioner

State Issues Covid-19 Connecticut Consumer Credit Licensing

State Issues

On June 19, the banking commissioner in Connecticut issued a memorandum extending its “no action” position regarding temporary work-from-home guidance. Previously covered here and here, the memorandum permits consumer credit licensees to work from home, even though such home location is not licensed by the Banking Department, so long as certain criteria spelled out in the memorandum are met. The guidance is extended through August 31, 2020.