Selected Opinions regarding Small Loan Agencies

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.

Small Loan Licensing Requirement for Internet Pay-day Lending - June 26, 2006

Does Refund Anticipation Loan Program Require a License - March 3, 2003

Does Use of Letterhead for Backroom Services Trigger Licensing - October 15, 2001

Do Subservices Need a License - July 9, 2001

Requirement Of A Small Loan License For A Company Operating An Informational Website - Q1 2000

Small Loan Licensing Exemption - Q2 2000

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

Small Loan Agency License Requirement For A Buyer and Collector Of Debt - Q4 1999

Licensing Requirements For Out-of-State Industrial Loan Company In The Commonwealth - Q3 1999

Requirement Of A Sales Finance Company To Acquire A Small Loan License To Assist In Making Unsecured Loans - Q3 1999

Inquiry As To Whether Loan Officers Based At A Real Estate Office Require Separate Branch Approval - Q3 1999

Exemption From Licensing Requirements For Subsidiary Of A National Banking Association - Q2 1999

Permissibility To Assess Administration Fee On Consecutive Small Loans. - Q1 1999

Licensing Requirements For Extended Automobile Service Agreements - Q1 1999

Exemption From Licensing Requirements For State-Chartered Banks - Q4 1998

Requirements For Separate Licenses - Q4 1998

Licensing Requirements For Making Loans To Mobile Home Owners - Q4 1998

Licensing Requirements For Entities Engaging In Brokering Activities With Home Improvement Contractors - Q4 1998

Ability Of Licensed Mortgage Broker To Do Business With Its Mortgage Lender Parent Company - Q3 1998

Possible Means For Securing Home Equity Lines Of Credit Subject To The Small Loan Act - Q3 1998

Tax Refund Financing Businesses And Small Loan Agency License Requirements - Q2 1998

Originating Loans Secured By First Liens On Residential Manufactured Homes - Q3 1998

Annual Report Filing Requirements - Q2 1998

Stages At Which Interest May Be Charged - Q2 1998

Licensing Of Employees Of A Licensed Small Loan Agency Who Wish To Work From Their Personal Residences - Q3 1998

Business Of Collecting Student Loans

Licensing Requirements For Entities Soliciting Consumer Financing In MA

License Requirements For "Loan Processing Centers" - Q4 1997

Permissibility Of A Non-Bank Entity Displaying Signs Indicating That Financing Is Available Through A Particular Bank - Q4 1997

The Applicability Of The Small Loan Rate Order To Late Fees and Student Loans Which Capitalize Interest - Q3 1997

Retention of Small Loan License - March 1, 1996

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.