Debt Negotiation Licensing
In response to the outbreak of the coronavirus, the Banking Commissioner issued a memo on March 10, 2020 advising the mortgage industry, and other financial services sectors licensed by the Department, that it would take a no action position with regard to employees working from home who otherwise would be required to work from a licensed branch location. Please read the memo for details:
No Action Position Regarding Temporarily Working from Home Due to COVID-19
Essential Statutes
Please reference the relevant Connecticut Statutes (§§ 36a-671 - 36a-671f, inclusive, and the Regulations before applying for a license.
Other Relevant Information:
- Schedule of Maximum Fees
- Opinion re: Mortgage Loan Licensure Requirement
- Declaratory Ruling re: Attorney Exemption
Note however: Connecticut Supreme Court decision
How to Apply:
If you wish to apply for a debt negotiator license you should begin by first reviewing Connecticut’s Jurisdiction-Specific Requirements along with Connecticut's debt negotiation licensing statutes, which provides the current licensing procedures and requirements applicable to debt negotiators.
If your company already has a completed record in the Nationwide Multistate Licensing System and Registry, then applying for a license in Connecticut merely involves filing your company's record (Form MU1), control person records (Form MU2), and relevant branch records (Form MU3) with Connecticut through the NMLS and mailing in the jurisdiction-specific requirements to the Department.
Go to the Getting Started page of the NMLS website and follow the steps outlined:
CONTACT
Connecticut Department of Banking
Consumer Credit Division
260 Constitution Plaza
Hartford, CT 06103-1800
Telephone: (860) 240-8200 or toll-free 800-831-7225
Fax: (860) 240-8215
WHO TO CONTACT - Contact Anne Cappelli by phone at 860-240-8206 or send your questions
via e-mail to anne.cappelli@ct.gov for additional assistance.