Iowa Administrative Code
Agency 187 - Banking Division
Chapter 17 - Delayed Deposit Services
Rule 187-17.4 - Grounds for Approval or Denial
Universal Citation: IA Admin Code 187-17.4
Current through Register Vol. 47, No. 6, September 18, 2024
(1) The superintendent shall approve or deny a license application in accordance with the provisions of Iowa Code section 533D.3.
(2) The following may be considered evidence that the business of the applicant may not be operated lawfully and honestly consistent with the purposes of Iowa Code chapter 533D and may therefore be considered grounds for denial of an application:
a. An applicant, or an officer, director, or
individual who has control of an applicant, has had a mortgage loan originator
license or any lending license revoked in any governmental
jurisdiction.
b. An applicant, or
an officer, director, or individual who has control of an applicant, has been
convicted of, or pled guilty or no contest to, a felony in a domestic, foreign,
or military court if such felony involved an act of fraud, dishonesty, or
breach of trust, or money laundering.
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