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  7. Finance Companies (inc. Motor Vehicle Financing)

Finance Companies (including Motor Vehicle Financing)

The Division of Banks licenses consumer finance companies, including insurance premium finance companies, motor vehicle finance companies, retail installment finance companies, and small loan companies. Applicants for any of the finance company licenses should carefully review all applicable laws, regulations, and regulatory bulletins governing finance companies prior to submitting an application to the Massachusetts Division of Banks through the Nationwide Multi-State Licensing System & Registry (NMLS)

  • General Laws of Massachusetts Chapter 140

    Sections 96 to 114A: Small Loan Companies

  • General Laws of Massachusetts chapter 255B

    Motor Vehicle Sales Finance Companies

  • General Laws of Massachusetts chapter 255C

    Insurance Premium Finance Companies

  • General Laws of Massachusetts chapter 255D

    Retail Installment Sales Finance Companies

  • 209 CMR 20.00: Small Loans, Sales Finance Companies and Insurance Premium Finance Companies

  • 209 CMR 26.00: Loans Regulatory Board

  • 209 CMR 32.00: Disclosure Of Consumer Credit Costs And Terms

  • 209 CMR 48.00: Licensee Record Keeping

  • 955 CMR 2.00: Rules Governing the Financing of Insurance Premiums

    Not presently available on the web

  • To Apply for or Amend a License

     All applications for company or branch licenses must be filed with the Massachusetts Division of Banks through the Nationwide Multi-State Licensing System & Registry (NMLS).  Paper license applications are no longer accepted.  Applicants for any of the finance company license types are instructed to carefully review all applicable laws, regulations, and regulatory bulletins governing finance companies prior to submitting an application.

    Click here to access NMLS and additional license application instructions

     Please direct all application inquiries to nmls@state.ma.us. or call 617-956-1500 ext. 351.
    For technical assistance with NMLS, call the NMLS Call Center at 240-386-4444.

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