District Of Columbia — Money Lender Licensee - NMLS Bond
District of Columbia money lender applicants must accompany the application with the $5,000 bond described in Section26-903, unless an authorized alternative arrangement applies. Keep this requirement separate from money transmission or mortgage licensing.
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- Recorded state
- District of Columbia
- Bond type
- Consumer Finance / Lender Bond
- Category
- Financial services
What this bond does
Supply accepted District money lender security while completing the separate NMLS license application and supporting requirements.
- Who needs it
- Money lender applicants and licensees with a DISB request identifying their actual lending activity, legal entity and NMLS record.
- Who it protects
- The statutory bond runs to the District and conditions the obligor not to violate laws relating to the money lending business. Its express private bond action follows a qualifying judgment and an execution returned wholly or partly unsatisfied; it is not automatic payment of every borrower complaint.
Your bond option
This is the option on record for this bond.
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The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- District DISB: Money Transmitters and Money Lenders Licensing Requirements (opens in a new tab)Checked October 27, 2026
- D.C. Law Library: Section 26-903 (opens in a new tab)Checked October 27, 2026
Have these ready
- Identify the actual money lender role rather than transmission or mortgage authority.
- Match the exact applicant and NMLS identifiers to DISB's request.
- Provide the accepted bond, $5,000 requirement, dates and any approved alternative arrangement.
- Confirm execution, delivery and annual renewal or refiling evidence.
Questions about this bond
Does a borrower complaint automatically trigger payment?
No. Section26-903 describes an action on the bond after a qualifying judgment and an execution returned unsatisfied in whole or part. Do not describe it as automatic complaint compensation.
Does the NMLS application replace the bond?
No. DISB directs the application and supporting documents through NMLS; confirm accepted execution and bond delivery separately.
Does an annual payment prove the bond was refiled?
Not by itself. Section26-903 calls for October renewal and refiling. Obtain the current agency procedure and retain evidence that the required security was accepted.
Can I decide to use an alternative surety arrangement?
The statute places the specified waiver authority with the Mayor. Obtain agency approval of the applicable arrangement before assuming the bond is waived or buying duplicate security.