Regulatory Alerts2008-04-29
LL-01-07 Applications for Licensed Lenders with Multiple Locations
The Louisiana Office of Financial Institutions issued Policy LL-01-07 to streamline licensing for lenders opening additional locations under the same legal entity. Corporations and limited liability companies subject to the Louisiana Consumer Credit Law may now submit an abbreviated application containing previously filed financial responsibility, character, and fitness data instead of redundant full applications. This regulatory change eliminates unnecessary duplication while maintaining the commissioner’s evaluation standards, thereby reducing administrative burdens for expanding licensed lenders.
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