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Financial Services Law Insights and Observations

Rhode Island regulator extends work from home guidance for lenders

State Issues Covid-19 Rhode Island Lending Mortgage Origination Broker Broker-Dealer Mortgage Broker Licensing Mortgage Licensing Privacy/Cyber Risk & Data Security

State Issues

On September 28, the Rhode Island Department of Business Regulation, Banking Division, extended previous guidance (previously covered here and here) issued to mortgage loan originators, lenders, loan brokers, and exempt company registrants. The guidance permits working from home, even if the home is located outside of Rhode Island or is not a licensed branch, so long as specified data security provisions are met. The department extended this guidance until December 31, 2020.