By the Division of Banks

Final Amended Regulations - 209 CMR 48.00: Licensee Record Keeping


The Division of Banks has filed final amendments to 209 CMR 48.00: Licensee Record Keeping to modernize the regulations that address electronic records and to include requirements that the licensees update and maintain books and records information in the Nationwide Multi-State Licensing System.  In addition, the amendments to this regulation apply to third party loan servicers, foreign transmittal agencies, check cashers, and check sellers, so that these licensees and registrants of the Division are now covered by the regulation.  The amendments will become effective on June 6, 2014.