Wisconsin Administrative Code
Department of Financial Institutions
DFI-Bkg 1-78 - Department of Financial Institutions-Banking
Chapter DFI-Bkg 79 - Sellers Of Checks
Section DFI-Bkg 79.02 - Nationwide Multistate Licensing System and Registry
Universal Citation: WI Admin Code ยง DFI-Bkg 79.02
Current through February 26, 2024
(1) PARTICIPATION.
(a) The division shall utilize the NMLS with
respect to applicants and licensees. The division may establish relationships
or contracts with the NMLS or other entities designated by the NMLS to collect
and maintain records and process transaction fees or other fees. With respect
to any form, fee, or other information required to be submitted to the division
by an applicant or licensee, the division may require the applicant or licensee
to submit such form, fee, or other information directly to the NMLS.
(b) Each applicant and licensee shall
register with, and maintain a valid unique identifier issued by, the
NMLS.
(c) The division may require
an applicant or licensee to provide to the NMLS any information that the
division determines to be relevant to the application or to any responsibility
administered or conducted through the NMLS that is related to the licensed
activity.
(d) The division may
require an applicant or licensee, or an individual with the power to direct the
management or policies of the applicant or licensee, to submit an independent
credit report from a consumer reporting agency, an investigative background
report prepared by an independent search firm, fingerprints, or any other
personal or professional history information deemed necessary by the division.
The division may require fingerprints for the purposes of identifying the
individual and to determine whether the individual has a record of warrants,
arrests, or convictions in any jurisdiction. Fingerprints may be submitted,
directly or as provided in sub. (2), to the federal bureau of investigation and
any government agency or entity authorized to receive this information for a
state and national criminal history record check.
(e) The division may rely on the NMLS to
establish any dates relating to application or reporting deadlines for
applicants and licensees, to establish requirements for amending or
surrendering licenses, or to establish any other requirements applicable to
applicants and licensees to the extent the requirements are a condition of the
state's participation in the NMLS.
(f) Applicants and licensees are responsible
for any service, access, or other fees charged by the NMLS for use of the
system. Whenever the division requires fingerprinting, an independent credit
report from a consumer reporting agency, an investigative background report
prepared by an independent search firm, or any other information in connection
with an application or other filing, any associated costs shall be paid by the
applicant or the parties to the application.
(2) CHANNELING INFORMATION. To reduce the points of contact that the division may have to maintain, and to facilitate compliance with any requirement that an applicant provide identity information, including social security number or federal employer identification number, fingerprints, credit reports, or other personal history, the division may use the NMLS as a channeling agent for requesting and distributing information to and from any source so directed by the division, including the federal bureau of investigation, any state or federal department of justice, or any other governmental agency.
(3) CONFIDENTIAL INFORMATION.
(a) If any
information or material is considered confidential or privileged under federal
or state law before it is provided or disclosed to the NMLS, it shall continue
to be confidential or privileged after it is provided or disclosed to, and
while maintained by, the NMLS, except to the extent federal or state law
expressly provides otherwise and except as provided in par. (c). Confidential
or privileged information or material under this paragraph is not subject to
any of the following:
1. Disclosure under any
federal or state law governing the disclosure to the public of information held
by an officer or an agency of federal or state government.
2. Subpoena or discovery, or admission into
evidence, in any private civil action or administrative proceeding, unless the
person to whom the information or material pertains waives any right or
protection of confidentiality or privilege in the information or
material.
(b)
Confidential or privileged information or material under par. (a) may be shared
with any state or federal regulatory agency having supervisory authority over
activities governed by ch. 217, Stats., without losing any right or protection
of confidentiality or privilege under federal or state law.
(c) This subsection does not prohibit the
NMLS from providing public access to information or material relating to the
employment history of, and publicly adjudicated disciplinary and enforcement
actions against, licensees.
(4) COOPERATIVE ARRANGEMENTS. The division may enter into cooperative, coordinating, or information-sharing arrangements or agreements with other governmental agencies or with associations representing other governmental agencies, including the Conference of State Bank Supervisors, subject to the requirements of s. 220.06, Stats.
This section is created eff. 9-1-23 by CR 22-020.
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