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NMLS Transition Update for Existing California Financing Law Licensees: CA DFPI Has Opened the NMLS Portal to Receive Transition Applications 

by Melissa Richards

Published: July, 2021

Submission: July, 2021

 



 


Following July 8, 2021’s Client Alert, the California Department of Financial Protection and Innovation (DFPI) posted its CFL Transition Checklist for existing California Financing Law licensees to begin the license administration transition over to the Nationwide Multistate Licensing System (NMLS) portal. The deadline for submitting CFL transition applications through the NMLS portal is December 31, 2021.


In addition, the CA DFPI has included in its CFL Transition Checklist a link to the agency’s new CFL Transition FAQ’s as well as the NMLS’ own standard step-by-step instructions for transitioning an existing state license over to the NMLS platform, entitled Transitioning An Existing Company License.


Buchalter and its multistate licensing team stand ready to support our CFL licensed clients in their NMLS transition. Please reach out to Melissa Richards for assistance in understanding CA DFPI’s new CFL transition instructions as well as the filing and processing of license transition applications through the NMLS online portal.                                                                                                                                                                                                                                                                                                   



                                                                                           


This communication is not intended to create or constitute, nor does it create or constitute, an attorney-client or any other legal relationship. No statement in this communication constitutes legal advice nor should any communication herein be construed, relied upon, or interpreted as legal advice. This communication is for general information purposes only regarding recent legal developments of interest, and is not a substitute for legal counsel on any subject matter. No reader should act or refrain from acting on the basis of any information included herein without seeking appropriate legal advice on the particular facts and circumstances affecting that reader. For more information, visit www.buchalter.com.


 



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