On February 3, 2022, the Nevada Financial Institutions Division announced that on January 2, 2022, it began transitioning non-depository licenses to the Nationwide MultistateLicensing System (NMLS). All current licensees must transition their license to NMLS no later than June 30, 2022.

Other important points in the announcement:

  • Paper forms will only be accepted until March 31, 2022
  • On April 1, 2022, current collection agency and manager licensees can begin to transition their licenses to NMLS (see the announcement for the process)
  • Licenses not transitioned to NMLS by June 30, 2022, will expire and not be eligible for reinstatement
  • companies that submit for a transition will not need to submit a paper renewal during the June 2022 renewal period. 
  • Renewal dates will change after the transition to NMLS

Contact information for both NMLS and the Nevada Financial Institutions Division are in the announcement

Next Article: Hunstein: Case Moves Forward; Consumer Files Final ...