Regulatory Alerts2013-10-01
Additional Reports and Records Under the Deferred Presentment Services Act
The Alabama Bureau of Loans, led by Supervisor Scott Corscadden, issued this regulation under the Deferred Presentment Services Act to establish additional reporting obligations. The rule mandates that each licensee must maintain and submit specific reports and records to the Bureau as directed by the Supervisor. These requirements apply in addition to other records already required by the Act and its regulations, with the regulation becoming effective on October 1, 2013.
155-2-4-.04 Additional Reports and Records – Deferred Presentment Services Act (1) In addition to the reports and records required elsewhere in the Act and regulations, each licensee shall maintain and/or submit to the Bureau of Loans such other reports and records at such time and in such form as the Supervisor may require. Author: Scott Corscadden, Supervisor, Bureau of Loans Statutory Authority: Code of Alabama 1975, §5-18A-10 and §5-18A-11. History: Effective October 1, 2013