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Consumer Lender

Arizona Adds Consumer Finance, Debt-Related, and Money Transmitter Licenses to NMLS July 1, 2017

NMLS is now receiving new application and transition filings for the following Arizona Department of Financial Institutions licenses. New applicants and existing licensees are now able to submit these records through NMLS.

  • Money Transmitter License
  • Money Transmitter Branch License
  • Consumer Lender License
  • Consumer Lender Branch License
  • Debt Management License
  • Debt Management Branch License


Note: Companies holding these license types are encouraged to submit a license transition request through NMLS by filing a Company Form (MU1) and an Individual Form (MU2) for each of their control persons.  Additionally, for each branch holding these license types, companies are encouraged to complete and submit a Branch Form (MU3). Click here for more information.

This license is required of any person that advertises to make or procure, solicits, or holds themselves out as willing to make or procure or makes or procures a loan of $10,000 or less or a revolving loan of not more than $10,000.

Who is exempt from this License?  Please review A.R.S. §6- 602.

 
Company Licenses Description Requirements Checklist
Consumer Lender License
This license will become available in NMLS starting May 1st, 2017. See Arizona Revised Statutes Title 32, Chapter 9 – Consumer Lender for more information about who is required to have this license. (More Details)
Branch Licenses Description Requirements Checklist
Consumer Lender Branch License This license will become available in NMLS starting May 1st, 2017. This License is required of any person that for compensation, engages in whole or in part in the business of receiving money as an agent of a debtor for the purpose of distributing the same to creditors in payment of obligations. Who is exempt from this License? Please review A.R.S. § 6-702 (More Details)

 

If you are not currently transitioning to the NMLS system, please click here.