Financial Services Superintendent Maria T. Vullo today announced that, starting July 1, 2017, the Department of Financial Services (DFS) will be transitioning to the Nationwide Multistate Licensing System and Registry (NMLS) to manage the license application and ongoing regulation of all nondepository financial institutions doing business in New York. NMLS was created by the State Conference of Bank Supervisors (CSBS) and began operations in January 2008. DFS strongly supports CSBS efforts such as Vision 2020 and currently employs NMLS to manage and regulate mortgage providers licensed in New York. This usage will be expanded, in stages, to all nondepository insitutions, commencing with money transmitters.
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