12 U.S.C. § 5110 — Background checks of loan originators

FEDERAL · 12 U.S.C. · Chapter 51

Background checks of loan originators

Current through Pub. L. 119-102

Title 12 — Banks and Banking·Ch. 51 — SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING

(a)Access to records Notwithstanding any other provision of law, in providing identification and processing functions, the Attorney General shall provide access to all criminal history information to the appropriate State officials responsible for regulating State-licensed loan originators and other financial service providers to the extent criminal history background checks are required under the laws of the State for the licensing of such loan originators or other financial service providers.

(b)Agent For the purposes of this section and in order to reduce the points of contact which the Federal Bureau of Investigation may have to maintain for purposes of subsection (a), the Conference of State Bank Supervisors or a wholly owned subsidiary may be used as a channeling agent of the State

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(a) Access to records
Notwithstanding any other provision of law, in providing identification and processing functions, the Attorney General shall provide access to all criminal history information to the appropriate State officials responsible for regulating State-licensed loan originators and other financial service providers to the extent criminal history background checks are required under the laws of the State for the licensing of such loan originators or other financial service providers.
(b) Agent
For the purposes of this section and in order to reduce the points of contact which the Federal Bureau of Investigation may have to maintain for purposes of subsection (a), the Conference of State Bank Supervisors or a wholly owned subsidiary may be used as a channeling agent of the States for requesting and distributing information between the Department of Justice and the appropriate State agencies .

12 U.S.C. § 5110 (Background checks of loan originators) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 110–289, div. A, title V, §1511, July 30, 2008, 122 Stat. 2819; Pub. L. 114–94, div. G, title LXXXVIII, §88002, Dec. 4, 2015, 129 Stat. 1799.)

Editorial Notes

Editorial Notes

Amendments
2015—Subsec. (a). Pub. L. 114–94 inserted "and other financial service providers" after "State-licensed loan originators" and "or other financial service providers" before period at end.