An increase in processing fees for the Nationwide Multistate Licensing System and Registry (NMLS) has been approved. The new fees will take effect on March 1.

The increase was proposed on Dec. 11. After a public comment period, the board of the Conference of State Bank Supervisors  and the board of managers for the State Regulatory Registry approved the increases.

The increase is the first since the NMLS was launched in 2008 and will apply to all industries on NMLS. Both boards review NMLS fees annually.  Here’s the fee schedule:

NMLS processing fees for state licenses

• Company initial setup and application fee and annual renewal — $120 (from $100)
• Branch initial setup and application fee and annual renewal — $25 (from $20)
• Individual initial setup and application fee and annual renewal — $35 (from $30)
• MLO change of sponsorship — $35 (from $30)

NMLS processing fees for federal registration

• Institution initial setup and application fee and annual renewal — $120 (from $100)
• Individual initial setup and application fee and annual renewal if registration occurs between January and June — $35 (from $30)
• Individual initial setup and application fee and annual renewal if registration occurs between July and December — $65 (from $60) / $0 annual
• MLO change of employee fee — $35 (from $30)

For more information about these fees, visit the NMLS processing fees page on the NMLS Resource Center.