OR HB4116

Oregon opts out of Section 521 of the federal Depository Institutions Deregulation and Monetary Control Act of 1980, preventing those federal amendments from applying to consumer finance loans made in the state.

State consumer finance laws apply to anyone making loans of $50,000 or less, or acting as an agent, broker, or facilitator for such loans, to consumers residing in Oregon.

License applications must include a unique identifier from the Nationwide Mortgage Licensing System and Registry, fingerprints for criminal background checks, personal history summaries, and authorization for credit reports.

Loans lawfully made in other jurisdictions remain unaffected, except as modified by the new opt-out provision.

Takes effect on the 91st day following adjournment of the 2026 regular legislative session.