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

In April 2023, CDIA filed a comment with the Maine Bureau of Consumer Credit Protection. The comment addressed the revised proposed rulemaking on the establishment of a registration system for CRAs through the Nationwide Multistate Licensing System (NMLS). The comment told the BCCP that our experience with NMLS in Maryland—the only state to require CRAs to register via that system—offers a cautionary tale for Maine. The NMLS, at least for CRAs, is inefficient, time-consuming, and unwieldy.

The rule requiring registration, C.M.R. Sec. 02-030-704, was promulgated under 10 M.R.S. § 1310-A(G).

A final rule was not announced, but it appeared on the Bureau’s website in July 2023.