Regulatory Updates
Updates the regulatory team is monitoring across the verticals we file in. Effective dates, severity, and impact in one feed.
CSBS's NMLS modernization roadmap showed Phase Three as coming in August 2026, with no major feature release yet confirmed between July 20 and August 3, 2026. The planned changes include state agency task management for individual licensing and improved two-way communications for review items.
Following NMLS changes that went live on April 18, 2026, CSBS and NMLS materials recommend updating affected MU2 and MU4 records by August 31, 2026 ahead of renewals. The changes include revised disclosure questions, redesigned employment reporting, employment gap entries, and company-managed work contact fields.
CSBS published an August 2026 update to its Money Transmission Modernization Act tracker, showing current introductions and enactments and stating that 31 states have enacted the law in full or in part. This is not a rule change by itself, but it is a useful marker for multistate licensing planning.
On July 31, 2026, the OCC issued Bulletin 2026-35 announcing an interagency notice of proposed rulemaking under the Community Reinvestment Act. This was the clearest formal OCC rulemaking development identified in the July 19 to August 2, 2026 period.
On July 9, 2026, the CFPB issued a request for information on promoting access to mortgage credit. The Bureau said it is considering regulatory changes involving TRID disclosures, rescission, and reverse mortgage disclosures, which kept this item active during July 19 to August 2, 2026.
In April 2026, FinCEN proposed a major rule to reform AML/CFT program requirements for financial institutions covered by the Bank Secrecy Act, including money services businesses. The proposal was still the central unresolved federal MSB regulatory development during the July 18 to August 1, 2026 period.
In April 2026, FinCEN proposed a broad rewrite of AML and CFT program rules across financial institutions. The proposal would modernize requirements for money services businesses as part of a wider BSA and AML framework update.
IDFPR's proposed rules page listed several 2026 financial-rule proposals still pending as of late July 2026. The listed proposals include 38 IAC 1010 for the Student Loan Servicing Rights Act, 38 IAC 1031 for the Digital Asset and Consumer Protection Act, 38 IAC 1032 for the Digital Asset Kiosks Act, and 38 IAC 207 for the Uniform Money Transmission Modernization Act.
IDFPR's Division of Banking page states that the Illinois CRA annual fee for FY 2027 is due July 31 for banks and covered mortgage licensees. The page also notes online payment availability.
On July 22, 2026, FinCEN posted a notice extending the comment period for a proposed rule to amend the definition of Huione Group. The item was not described as an MSB-specific AML or BSA operational change, but it is an active federal rulemaking in the illicit finance space.
NMLS directed companies to complete MLO remote-status details by August 31, 2026 in preparation for 2027 renewals. The system change does not make remote work permissible in every state, but it adds a reporting and recordkeeping step for companies using remote work arrangements.
On April 7, 2026, FinCEN issued a proposed rule to reform AML and CFT program requirements under the Bank Secrecy Act. The proposal would modernize and harmonize requirements for casinos and money services businesses while retaining certain MSB-specific provisions, and it superseded FinCEN's prior July 3, 2024 proposal.
Illinois IDFPR had a pending proposed rulemaking for 38 IAC 1031, Digital Asset and Consumer Protection Act, active during late July 2026. The proposal was published earlier in 2026 and remained on the agency's financial rulemaking page during the July 16 to July 30 period.
Illinois IDFPR had a pending proposed rulemaking for 38 IAC 207, Uniform Money Transmission Modernization Act, active during July 16 to July 30, 2026. The proposal was published earlier in Illinois Register Issue 20 dated May 15, 2026, and remained an important live item for money transmitters in late July.
On July 24, 2026, CSBS filed a comment letter on proposed revisions to the Federal Reserve Policy on Payment System Risk and the guidelines for account and services requests. The letter reflects state regulator engagement on a live federal proposal affecting payment access and supervisory standards.
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