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Financial Services Law Insights and Observations

Hawaii regulator extends guidance permitting licensees to reduce office hours, temporarily close

State Issues Covid-19 Hawaii Licensing Financial Institutions Escrow Mortgages Mortgage Origination Mortgage Servicing Money Service / Money Transmitters

State Issues

On August 13, the Hawaii Division of Financial Institutions extended, until September 30, 2020, interim guidance permitting licensees with locations in Hawaii to reduce hours or close offices during Hawaii’s Covid-19 emergency period. Consistent with the previous guidance, covered here, financial institutions and escrow depositories are required to provide notice of closures or reductions in hours. While mortgage loan originators, mortgage servicers, and money transmitters are not required to provide notice, the regulator requests a courtesy notification of any closure or reduction in hours.