The Conference of State Bank Supervisors (CSBS) will release the first phase of major enhancements to the Nationwide Multistate Licensing System & Registry (NMLS) on July 20.
The updates are intended to address certain issues industry users have raised, including allowing users to create a username and password without having to contact the NMLS Call Center, and allowing users who have multiple NMLS accounts to access their accounts using one username and password.
Other enhancements include:
- A new login process, including a newly designed screen.
- A new built-in survey that allows NMLS users to provide feedback anytime.
- A new method that makes it easier for companies to create an NMLS account on behalf of an individual employee.
Industry members are well aware that CSBS has been talking about NMLS modernization for many years, dating back to their first attempt at a system overhaul, dubbed “NMLS 2.0”, which never came to fruition. These enhancements certainly are welcome and hopefully are just the precursor to the more substantial enhancements that industry members and regulators alike have identified as needed.