Entities	Maine (6)
Topics and Issues	CRA Registration (2) Nationwide Multistate Licensing System & Registry (NMLS) (2)

In September 2022, CDIA filed a comment to the Maine Department of Professional and Financial Regulation (PFR). In that state, the Bureau of Consumer Credit Protection issued a proposed agency rule Chapter 704. The proposal would create a new provision, 02.030.704, to make

the modifications necessary to transition licensing of all consumer reporting agencies currently licensed by the State of Maine to a multistate system administered by the Nationwide Multistate Licensing System (NMLS). As authorized by law, this Chapter establishes an annual license effective from January 1 through December 31 of each year; and sets application and renewal fees for credit reporting agencies. The rule requires applicants for new licenses to apply to NMLS as of November 1, 2023 and requires credit reporting agency currently licensed in Maine to transition to NMLS.

Title 10 M.R.S. § 1310-A(G) authorizes the administrator to establish routine, technical rules to move consumer reporting agency licensing to the Nationwide Multistate Licensing System (NMLS), including rules authorizing NMLS to collect fees and remit those fees to the bureau; authorizing collection of fees by NMLS for its processing costs; authorizing NMLS to process and maintain license records; and authorizing the use of NMLS’s uniform forms. Title 10 M.R.S. § 1310-A(G) authorizes the administrator to establish routine, technical rules to establish fees for the initial licensing and renewal licensing of credit reporting agencies.

Link: Rule Chapters for the Department of Professional and Financial Regulation.ME CRA Registration – Comment