Rhode Island made a number of amendments to financial institutions statutes with the passage of Senate Bill 2794 / House Bill 7781 Sub A. Changes include the scope of licensing.
ACA International continues to monitor the COVID-19 situation on behalf of its members to ensure that we are providing the most up-to-date guidance and information to help you adapt to various, and often swift, changes. We are .
Federal Activities:
On May 3, the Consumer Financial Protection Bureau’s (CFPB) interim final rule goes into effect. The rule requires debt collectors seeking to evict tenants for nonpayment of rent to provide written notice to tenants of their rights under the Centers for Disease Control and Prevention (CDC) order. Any comments on the rule must be submitted by May 7. For more information, click
On April 28, the CFPB issued a bulletin analyzing complaints submitted by consumers in counties nationwide. In 2019 and 2020, the CFPB received more complaints on a per-capita basis from consumers living in predominantly minority counties than from consumers in predominantly white, non-Hispanic counties. Consumers in counties with the highest percentage of minority population submitted complaints at over four times the rate compared to counties with the lowest percentage of minority population. For more information, click
Rhode Island Banking Division Announces Move to State Examination System
Licensees in Rhode Island will be able to track supervisory activity on the state system launched last year.
4/29/2021 8:00 AM
LicensingNewsStateCompliance
The Rhode Island Division of Banking will soon start using the State Examination System (SES) to conduct supervisory activities such as examinations and commencement of administrative actions, share consumer complaints and other supervisory activities with licensees.
The division sent out a notice to licensees April 13 with information on the impact to companies in the accounts receivable management industry, including efficiencies in understanding the status of supervisory activity and the ability to securely respond to regulator requests with easy document upload features.