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Montana governor issues executive order prohibiting evictions, foreclosures, and utility and internet cancellation
On March 30, Montana Governor Steve Bullock issued an executive order prohibiting residential foreclosures, evictions, and utility and internet service cancellations. In addition, no borrower may be reported to a credit bureau for failure to pay for the duration of the directive. Citing the...
InfoBytesMassachusetts Division of Banks updates extensions for licensee filings
On March 30, the Massachusetts Division of Banks (DOB) issued an update for licensees to clarify the filing deadlines for financial statements and call reports in light of the NMLS policy decision. The DOB is providing a 60-day extension to file financial statements, a 30-day extension to submit...
InfoBytesLouisiana regulator permits remote annual meetings
On March 30, the Louisiana Commissioner of Financial Institutions issued an emergency declaration permitting shareholders or members of a financial institution to participate in annual meetings by means of remote communication and permitting institutions to hold virtual annual meetings. The...
InfoBytesTexas Department of Banking issues business continuity considerations
On March 30, the Texas Department of Banking issued considerations for business continuity planning. In it, the Department asked banks and financial institutions to consider enterprise-wide interdependencies, as well as critical business functions like core processing, physical and digital cash...
InfoBytesMinnesota Commerce Department grants flexibility to domestic insurers for annual meetings
On March 30, the Minnesota Commerce Department issued Regulatory Guidance 20-13 to domestic insurers regarding annual meetings. The guidance urges insurers to be flexible in rescheduling meetings or allowing alternatives to in-person annual policyholder or shareholder meetings. Temporary amendments...
InfoBytesMinnesota Commerce Department extends filing deadlines for subdivided land registrants
On March 30, the Minnesota Commerce Department issued Regulatory Guidance 20-12 to subdivided land registrants. The guidance extends the deadline for subdivided land registrants to file annual reports that were due by April 30, 2020, pursuant to Minn. Stat. § 83.30, subdivision 1, to June 30, 2020...
InfoBytesMinnesota Commerce Department extends filing deadlines for consumer credit licensees
On March 30, the Minnesota Commerce Department issued Regulatory Guidance 20-09 to consumer credit licensees. The guidance extends the deadlines to file annual reports originally due March 1 or March 15, 2020 to April 30, 2020, for the following consumer credit-related licensees: regulated lenders...
InfoBytesMinnesota Commerce Department provides relief to financial professionals
On March 30, the Minnesota Commerce Department issued Regulatory Guidance 20-08 to provide certain relief to broker-dealers, state registered investment advisers, federal covered investment advisers, and their registered agents or representatives (collectively, “financial professionals”). The...
InfoBytesMontana regulator permits non-depository licenses to work from home
The Montana Division of Banking and Financial Institutions announced that it is temporarily permitting non-depository licensees and their employees to work from home, whether the home is in Montana or another state. The permission also applies even if the home is not a licensed branch. Non-...
InfoBytesMaryland governor authorizes remote notarization; encourages remote closings
On March 30, Maryland Governor Larry Hogan issued an executive order permitting remote notarization under certain circumstances. Maryland-licensed mortgage lenders are strongly encouraged to use the flexibility provided by the order to conduct loan closings remotely. In conjunction with the order,...
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