Regulatory AlertsRelease of Cash Deposits, Securities, and Trust Accounts Pledged to the Commissioner
The Louisiana Office of Financial Institutions requires the release of cash deposits, securities, and trust accounts pledged by licensed mortgage lenders, collection agencies, check cashiers, credit repair organizations, loan brokers, and check sellers. These pledged assets are released six months after a licensee surrenders, ceases operations, allows expiration, or faces license revocation. The commissioner may extend this timeframe pending record examination, provided licensees maintain compliance documentation per established retention rules.
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