CSBS Issue Talking Points - March 2021

agencies’ work, while industry will have a more streamlined, user-focused experience as they go through the state licensing process. • Development for the modernized NMLS will begin in 2021. Development efforts will focus initially on the MSB industry, which will be the first industry to transition to the modernized NMLS. • CSBS staff will support state regulators as they collaborate to establish, define and implement standardized licensing requirements that will drive how the licensing process is managed in the modernized NMLS. • CSBS staff will conduct a state agency outreach effort to gain agency commitments to agree to adopt MSB industry licensing requirements based on an MSB Model Law, which will follow a national standard. This outreach effort will be similar to activities that led to state agency commitments to adopt the current NMLS. SME Contact: Vonnetta Cornish, Senior Manager, NMLS Communications: 202.728.5752 or VCornish@csbs.org Date Updated: 1/13/2021

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