Licensing Link July 2024

Although near the bottom of the alphabetical list of US states, Washington and Wisconsin should be top of mind for certain consumer loan market participants in light of recent changes to both states’ consumer loan licensing laws. In this issue of Licensing Link, we discuss the recent amendments to the Washington Consumer Loan Act and Wisconsin Licensed Lenders Law.

For more than 20 years, our Financial Services Regulatory and Enforcement practice’s licensing team has helped clients engaged in lending and other consumer credit activities navigate every aspect of state licensing. We routinely undertake nationwide licensing and renewal efforts involving all manner of professional licenses for consumer credit-related activities, including mortgage lending, brokering or servicing, consumer lending and brokering, commercial mortgage and non-real estate-secured commercial or business activities, collections, money services or money transmitter businesses, sales finance activities, and real estate broker activities. We not only help companies evaluate the need for and obtain state licenses but also help steer them through license renewals, examinations and required reporting, changes of control, and license surrenders and provide other services that help companies remain in good standing with state licensing regulators.

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