NMLS Modernization is the next generation of NMLS. With NMLS Modernization, state regulators, industry and individual users manage a full range of state licensing and federal registry activities will experience improved access to data, increased uniformity and more automation.
SES is an examination system built by state regulators for state regulators and the companies they supervise. It is the only nationwide system connecting agencies and companies in the examination process.
All states with licensing authority over MSBs will adopt the Multi-State MSB Licensing Agreement.
All states that regulate MSBs will participate in or accept "One Company, One Exam" for 75 MSB Firms.
State regulators will pilot “One Company One Exam” for mortgage companies to reduce regulatory burden and create new efficiencies.
As part of Networked Supervision, state regulators have committed to adopting an integrated, 50-state licensing and supervisory system that recognizes standards across state lines. Last year, CSBS requested comment on MSB model law language focused on four issue areas identified by the Fintech Industry Advisory Panel – Control, Activity and Exemption Definitions, Safety & Soundness, and Supervision.
Regulators will participate in a community of large bank examiners to benefit from a more horizontal perspective regarding current practices and trends at large banks.
Cyber-risk examinations will be coordinated for nonbank entities to ease regulatory burden, provide more consistency, and enhance effectiveness.