The Tennessee Department of Financial Institutions recently announcement its 2021-2022 annual supervision fees for non-depository financial institutions. The new fees are effective November 1, 2021 and are as follows:
- $ 1,000 for flexible credit licensees and mortgage licensees; and
- $ 600 for check cashing licensees, deferred presentation licensees, premium finance licensees, industrial loan and savings registrants, and property pledge licensees.
Additionally, money transmission licensees will continue to pay license and examination fees based on applicable law. Mortgage originators will continue to pay license and renewal fees of $ 100 and referral fees of $ 100.
The annual supervision fee includes the annual license or registration fee and the costs of a routine examination or investigation for those regulated and supervised by the Department of Financial Institutions (institutions are still required to pay fees). actual expenditures for out-of-state reviews and inspections). Establishments pay the monitoring fee when submitting an application and the monitoring fee is required to obtain the issue or renewal of a license or registration.