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Financial Services Law Insights and Observations

Hawaii regulator extends authorization for reduced office hours, temporary closures

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

State Issues

On October 2, the Hawaii Division of Financial Institutions extended interim guidance allowing Hawaii-located financial institutions to reduce hours or close offices during Hawaii’s Covid-19 state of emergency (see here and here for previous coverage). Similar to previously issued guidance, 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.  The guidance is extended “in accordance with the county emergency orders found on each county website.”