Tag: Regulatory Updates

Alabama Legislative Update

Alabama Senate Bill 318 The Alabama legislature recently enacted the Data Breach Notification Act (“Act”), effective June 1, 2018. A “Breach of Security” or “Breach” is the unauthorized acquisition of data in electronic form containing sensitive personally identifying information.  Acquisition occurring over a period of time committed by the same entity constitutes one breach. The […]

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Maine, Oregon, and Utah Legislative Update

Maine has now enacted the Revised Uniform Fiduciary Access to Digital Assets Act, effective April 4, 2018 (the “Maine Act”).  The Oregon legislature has enacted legislation setting fees for licensing mortgage servicers, effective April 3, 2018. The Utah Residential Mortgages Practices and Licensing Act (the “Utah Act”) was recently amended, effective May 8, 2018. Maine […]

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Vermont Regulatory Update

Vermont Regulation B-2018-1 The Vermont Department of Financial Regulation recently issued revised regulations regarding annual privacy notices, effective March 15, 2018. A financial institution is not required to deliver an annual privacy notice if: The financial institution does not disclose the customer’s nonpublic personal information to nonaffiliated third parties other than for permitted purposes; The […]

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Utah, Vermont, Maryland, Virginia Regulatory Updates and a Federal Update

Utah Legislative Update Leading document preparation solution provider MRG recently published an update concerning lending legislation in the state of Utah. Utah House Bill 196 extends the date that a citation may be issued following a violation from 6 months to 1 year after the occurrence of a violation. The bill also modifies the definition […]

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Nevada and Utah Legislative and Minnesota Regulatory Update

Nevada The Foreclosure Mediation Program expires on June 30, 2017, and all mediations should have been completed by April 30, 2017. Utah Utah House Bill 13 recently passed, defining digital assets and parties involved for electronic loan compliance. Some measures include: Identifying custodians (persons/entities that carry, maintain, process, receive, or store digital assets for users) […]

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Alaska Regulatory Update

This compliance update was originally published on www.mrgdocs.com: MRG Docs, a loan document prep provider that specializes in compliant loan documentation in all 50 United States, published an article highlighting recent regulatory changes in Alaska. Alaska House Bill 12 amended provisions regarding the requirements for registering a depository institution, including licensing fees, surety bond requirements, […]

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