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Commercial and Consumer Regulatory Licensing

Greenberg Traurig’s Financial Regulatory & Compliance Practice lawyers represent a wide range of financial services companies including lenders, payment and cryptocurrency companies with state and federal agency regulatory licenses, approvals, registrations, notifications, permits, and other filings. Our team has deep knowledge of licensing laws at the federal, state, and local levels, particularly in the complex and comprehensive Truth in Lending Act, Real Estate Settlement Procedures Act, Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act, Bank Secrecy Act and their implementing regulations. Our licensing team advises clients on the maintenance of existing licenses (including change of control filings, legal entity conversions, and licensing for expansion of activities) for a wide variety of mortgage, commercial, and consumer financial services companies.

Overview

  • Experienced in licensing and regulatory compliance matters in all 50 states, the District of Columbia, and all U.S. territories for a wide array of residential and commercial mortgage, consumer and commercial financial services, money transmission, digital wallet and cryptocurrency companies, including emerging fintech firms.
  • Well versed in registration and compliance issues related to federal government services agencies, including FinCEN, HUD/FHA, Ginnie Mae, Fannie Mae, Freddie Mac, VA, and USDA.

Services

  • Completing surveys covering federal and state licensing, notification, and registration requirements for a range of regulated business activities.
  • Monitoring changes to federal and state laws and regulations and providing legal summaries regarding impacts to existing business activities.
  • Performing gap reviews or examination preparedness programs for federal and state regulators, including the Consumer Financial Protection Bureau (CFPB) and the Internal Revenue Service (IRS).
  • Responding to federal and state examination requests from regulators, including audits with the CFPB and IRS.
  • Performing regulatory due diligences and risk assessments in connection with secondary market or M&A transactions involving financial services companies or products.
  • Reviewing transaction documents for purchases, sales, and securitizations of consumer and commercial mortgages, loans, leases, and retail installment contracts for regulatory considerations.
  • Submitting state license applications and foreign “doing business” registrations with the secretaries of state.
  • Monitoring of federal and state licenses, regulations, notifications, or other approvals to help prevent lapses.
  • Support for addressing inquiries and investigations by state regulators.
  • Managing federal and state change in control notices and approval applications for money transmitter, virtual currency, and lending companies.
  • Registering lenders and money transmitters with the Nationwide Multistate Licensing System & Registry (NMLS) and other state online and paper licensing systems.