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On March 31, the Idaho Department of Finance extended its temporary regulatory guidance (previously covered here, here, here) permitting mortgage brokers and lenders, mortgage loan originators, regulated lenders, title lenders, payday lenders, and collection agency licensees and registrants to work from home under certain circumstances. The original guidance (previously covered here) permits employees to work from home where the residence is not a licensed branch and certain data security requirements are met. The guidance is extended through December 31, 2021.
On August 12, the Idaho Department of Finance extended temporary work from home guidance previously issued to Idaho mortgage brokers and lenders, mortgage loan originators, regulated lenders, title lenders, payday lenders, and collection agency licensees and registrants. The original guidance (previously covered here and here) permits employees to work from home where the residence is not a licensed branch. The guidance is extended through December 31, 2020. Licensees are expected to meet the requirements of the original guidance, and are reminded that the guidance does not amend the Idaho Residential Mortgage Practices Act, the Idaho Credit Code, or the Idaho Collection Agency Act.
On June 22, Idaho Governor Brad Little issued Executive Order 2020-13 creating a rebuttable presumption that any regulation that has been waived in response to the Covid-19 pandemic is unnecessary or counterproductive outside of the emergency. The responsible agencies are instructed to determine by July 24 whether permanent suspension of the regulation would be deleterious to the public health and safety. If so, the agency head should submit a signed letter supporting that conclusion; otherwise they should take necessary steps to finalize the regulation’s permanent suspension.
On May 22, the Idaho Department of Finance extended temporary work from home guidance previously issued to Idaho mortgage brokers and lenders, mortgage loan originators, regulated lenders, title lenders, payday lenders, and collection agency licensees and registrants. The original guidance, previously covered here, permits employees to work from home where the residence is not a licensed branch. The guidance is extended through September 1, 2020.
On May 5, the Idaho governor issued an executive order establishing Idaho Rebound cash grants for Idaho-domiciled small businesses. Among other things, businesses eligible for the grants must have had between 1 and 50 employees as of February 15, 2020; have suffered a qualified business interruption; and not have received a Paycheck Protection Program loan or an Economic Injury Disaster Loan Emergency Advance, or received less than $10,000 in such funds.
On March 26, the Idaho Department of Finance issued a memorandum to Idaho money transmitter licensees and applicants regarding agency operations and communications due to Covid-19. The memorandum includes information on the Department’s teleworking arrangements and notes that routine examinations of registered entities and agents have been suspended. Registration staff continues to process licensing/registration applications through the CRD/IARD/NMLS systems and U.S. mail. In line with the NMLS Policy committee’s decisions and recommendations, the Department has also extended deadlines by 60 days for the filing of certain reports and statements.
On March 26, the Idaho Department of Finance Consumer Finance Bureau (Department) issued updated guidance to its registrants and licensees regarding the Department’s current operations during the Covid-19 outbreak. In particular, the Department noted that though the offices will be closed to the public for the next 21 days, staff are continuing to process licensing and registration applications. The Department suggested that companies may choose to transition their license records to the NMLS to avoid delays. In addition, the Department noted that field examinations continue remotely, using phone and email in lieu of onsite reviews. Finally, the Department indicated deadlines were extended for mortgage companies to file mortgage call reports and financial statements, and that deadlines will be reviewed for required license renewals and reports as needed.
On March 25, the Idaho Department of Health and Welfare issued an Order to Self-Isolate for all individuals living in Idaho except for those providing or receiving certain services or activities or engaged in essential businesses. Banks, credit unions, and financial institutions, including processing and maintaining systems for processing financial transactions and services are deemed essential business. Idaho also has published a List of Essential Services.
On March 18, the Idaho Department of Finance issued guidance to entities licensed under the Idaho Escrow Act permitting licensed activities to be conducted from unlicensed residences. The Department stated it will not take action against a licensee so long as the licensable activities meet specified data security and privacy requirements, and the licensee avoids advertising the unlicensed address or phone number, meeting consumers at the residence, or otherwise holding out or suggesting that the residence is a licensed location. The guidance is effective until June 30.
- Daniel R. Alonso to discuss internal investigations at the Institute of Internal Auditors of Argentina Spanish-language webinar
- Jonice Gray Tucker to discuss “Fintech trends” at the BIHC Network Elevating Black Excellence Regional Summit
- Jeffrey P. Naimon to discuss "Truth in lending” at the American Bar Association National Institute on Consumer Financial Services Basics
- Daniel R. Alonso to discuss anti-money-laundering at FELABAN Spanish-language webinar “Perspective for banks: LAFT, FINCEN, OFAC, Cryptocurrency”
- Daniel R. Alonso to discuss "What’s new in BSA/AML compliance?" at the Institute of International Bankers Regulatory Compliance Seminar
- Marshall T. Bell and John R. Coleman to speak at 2021 AFSA Annual Meeting
- Jon David D. Langlois to discuss "Regulatory update: What you need to know under the new boss; It won’t be the same as the old boss" at the IMN Residential Mortgage Service Rights Forum (East)
- Benjamin B. Klubes to discuss “Creating a Fantastic Workplace Culture”
- John R. Coleman and Amanda R. Lawrence to discuss “Consumer financial services government enforcement actions – The CFPB and beyond” at the Government Investigations & Civil Litigation Institute Annual Meeting
- Jonice Gray Tucker to discuss "Consumer financial services" at the Practising Law Institute Banking Law Institute
- Jonice Gray Tucker to discuss “Regulators always ring twice: Responding to a government request” at ALM Legalweek