AILA Members:
On July 15th 2026, The Alabama Banking Department announced that, starting September 1st, the Department will begin using the National Multistate Licensing System (NMLS) to manage Deferred Presentment, Pawnshop, Non-Mortgage Consumer Credit, and Small Loan licenses. This new Rule affects all AILA member companies.
Through NMLS, your company will apply for, amend, and renew its licenses online. Through NMLS, companies maintain a single record which they use to apply for, maintain, renew, and surrender license authorities. NMLS also contains functionality for the submission of application documentation, financial statements, credit reports, and criminal background checks as required for applicable license types.
More information about this new licensing requirement is available here: Transitioning to the National Multistate Licensing System (NMLS)
Each company holding a Mini-Code and/or Small Loan license must create a company record in NMLS, for the company itself, control persons (officers and owners), and for each branch holding a license. Once the company and branch forms have been completed, they may be submitted electronically through NMLS to the Alabama Banking Department beginning on or after 9/1/2026. Completing and submitting this record through NMLS will take the place of the renewal process this year.
Failure to transition will result in license expiration on 12/31/26.
We have not been given much notice though at our last Committee Day Meeting in October, 2025, Scott Corscadden alerted us to the fact that this day was coming.
Maury