• Background regarding Division of Banks Selected Opinions

    The publication of these Selected Opinions, as well as the previously issued Annual and Quarterly Digests, is part of the Division's ongoing effort to continue to improve its communication with all those who have a vested interest in the financial services industry. Through these Selected Opinions and Digests, the Division offers its perspective on current issues and questions in the financial services industry. As always, requests for opinions from the Division must be addressed directly to the Commissioner of Banks, Massachusetts Division of Banks, 1000 Washington Street, 10th Floor, Boston, MA 02118-6400 and must include a statement of all relevant facts, cites to applicable statutes and regulatory documents and an analysis of those materials supporting your position. The Division acknowledges receipt of opinion requests by assigning each a number. Any subsequent inquiries to the Division about an opinion request should refer to this opinion number.
  • Selected Opinion 06-040

    Small Loan Licensing Requirement for Internet Pay-day Lending - June 26, 2006
  • Selected Opinion 02-143

    Does Refund Anticipation Loan Program Require a License - March 3, 2003
  • Selected Opinion 01-119

    Does Use of Letterhead for Backroom Services Trigger Licensing - October 15, 2001
  • Selected Opinion 01-090

    Do Subservices Need a License - July 9, 2001
  • Summary of Selected Opinion 00-013

    Requirement Of A Small Loan License For A Company Operating An Informational Website - Q1 2000
  • Summary of Selected Opinion 00-003

    Small Loan Licensing Exemption - Q2 2000
  • Summary of Selected Opinion 99-172

    Permissibility Of Charging A Borrower An Annual Maintenance Fee On An Open-End Equity Line Of Credit Where The Fee Would Be Disclosed To The Borrower - Q1 2000
  • Summary of Selected Opinion 99-094

    Small Loan Agency License Requirement For A Buyer and Collector Of Debt - Q4 1999
  • Summary of Selected Opinion 99-079

    Licensing Requirements For Out-of-State Industrial Loan Company In The Commonwealth - Q3 1999
  • Summary of Selected Opinion 99-069

    Requirement Of A Sales Finance Company To Acquire A Small Loan License To Assist In Making Unsecured Loans - Q3 1999
  • Summary of Selected Opinion 99-055

    Inquiry As To Whether Loan Officers Based At A Real Estate Office Require Separate Branch Approval - Q3 1999
  • Summary of Selected Opinion 99-045

    Exemption From Licensing Requirements For Subsidiary Of A National Banking Association - Q2 1999
  • Summary of Selected Opinion 99-025

    Permissibility To Assess Administration Fee On Consecutive Small Loans. - Q1 1999
  • Summary of Selected Opinion 99-008

    Licensing Requirements For Extended Automobile Service Agreements - Q1 1999
  • Summary of Selected Opinion 98-252

    Exemption From Licensing Requirements For State-Chartered Banks - Q4 1998
  • Summary of Selected Opinion 98-229

    Requirements For Separate Licenses - Q4 1998
  • Summary of Selected Opinion 98-206

    Licensing Requirements For Making Loans To Mobile Home Owners - Q4 1998
  • Summary of Selected Opinion 98-190

    Licensing Requirements For Entities Engaging In Brokering Activities With Home Improvement Contractors - Q4 1998
  • Summary of Selected Opinion 98-165

    Ability Of Licensed Mortgage Broker To Do Business With Its Mortgage Lender Parent Company - Q3 1998
  • Summary of Selected Opinion 98-161

    Possible Means For Securing Home Equity Lines Of Credit Subject To The Small Loan Act - Q3 1998
  • Summary of selected opinion 98-133

    Tax Refund Financing Businesses And Small Loan Agency License Requirements - Q2 1998
  • Summary of Selected Opinion 98-096

    Originating Loans Secured By First Liens On Residential Manufactured Homes - Q3 1998
  • Summary of Selected Opinion 98-090

    Annual Report Filing Requirements - Q2 1998
  • Summary of Selected Opinion 98-073

    Stages At Which Interest May Be Charged - Q2 1998
  • Summary of Selected Opinion 98-064

    Licensing Of Employees Of A Licensed Small Loan Agency Who Wish To Work From Their Personal Residences - Q3 1998
  • Summary of Selected Opinion 97-269

    Business Of Collecting Student Loans
  • Summary of Selected Opinion 97-249

    Licensing Requirements For Entities Soliciting Consumer Financing In MA
  • Summary of Selected Opinion 97-247

    License Requirements For "Loan Processing Centers" - Q4 1997
  • Summary of Selected Opinion 97-245

    Permissibility Of A Non-Bank Entity Displaying Signs Indicating That Financing Is Available Through A Particular Bank - Q4 1997
  • Summary of Selected Opinion 97-087

    The Applicability Of The Small Loan Rate Order To Late Fees and Student Loans Which Capitalize Interest - Q3 1997
  • Selected Opinion 96-032

    Retention of Small Loan License - March 1, 1996

  • Past opinions of the Division of Banks

    Copies of past opinions may be obtained for a fee from the Division's Consumer Assistance Unit at (617) 956-1502, and must be paid for by check. The Division's Regulations, found in the Code of Massachusetts Regulations (CMR - agency code number 209), are available through the State House Bookstore, State House Room 116, Boston, Massachusetts, 02133. Please contact the bookstore directly for prices at (617) 727-2834.