Regulatory Alerts2025-01-01 | Bulletin 2025-2Bulletin 2025-2: Oregon Consumer Finance Licensing Requirements
The Oregon Division of Financial Regulation mandates that private lenders and income share agreement providers offering loans of $50,000 or less with terms exceeding 60 days must obtain an Oregon consumer finance license. This requirement extends to agents, brokers, and facilitators involved in educational lending, rendering unlicensed loans void and prohibiting the collection of principal or fees. Applicants must utilize the Nationwide Mortgage Licensing System to complete the licensing process, which includes background and credit checks for owners and control persons.
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