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Virginia licensing

Do I need a debt collection license in Virginia?

No. Virginia does not require a state-level debt collection license.

State Laws

Virginia licensing laws

3 verticals covered for Virginia

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Reviewed by Cornerstone Staff28 years of financial services state licensing experience

This guide covers 3 regulated activities in Virginia: Virginia Debt Collection Laws & Regulations, Virginia Money Transmitter Laws & Licensing, and Virginia Mortgage Laws & Licensing Requirements. For each one, the summary below names the state agency in charge. It shows whether a license or registration is required. It also shows whether Virginia calls for a surety bond before you can operate.

Oversight in Virginia runs through Virginia Attorney General (consumer protection) and Virginia Bureau of Financial Institutions. 2 of the 3 need a surety bond before you can operate. The bond protects the state and your customers if you break the rules tied to your license.

States change their statutes and fee schedules often. Treat the details below as a starting point. Confirm the current rule with the regulator before you file. When you are ready, Covered by Cornerstone can prepare and submit the Virginia filings for you. We track every renewal date and keep your license in good standing year after year.

debt collection

Virginia Debt Collection Laws & Regulations

Virginia does not require a state-level license for third-party debt collection. Collectors in Virginia must still follow the federal Fair Debt Collection Practices Act (FDCPA). They must also follow any consumer-protection statutes the state Attorney General enforces.

Application process

No state-level debt collection license is required in Virginia. Check for any local or municipal registration rules. Review your obligations under the federal FDCPA.

Renewals

No state license means no renewal cycle applies. Keep your practices FDCPA-compliant. Watch for any future state licensing legislation.

Virginia relies on the federal FDCPA and the state Attorney General's consumer-protection authority. It has no stand-alone licensing regime. Confirm this exemption before you rely on it.

Key statutes

  • Fair Debt Collection Practices Act (Federal) (15 U.S.C. § 1692) . Federal framework governing third-party debt collection nationwide.

money transmitter

Virginia Money Transmitter Laws & Licensing

Complete guide to money transmitter licensing in Virginia. Covers application requirements, surety bond amounts, net worth minimums, FinCEN registration, and key statutes governing money transmission in Virginia.

Virginia money transmitter requirements at a glance

Virginia money transmitter licensing requirements
Surety bond $25,000
Minimum net worth $100,000
Renewal cadence Annual
FinCEN MSB registration Required

Application process

To obtain a money transmitter license in Virginia, applicants generally need to submit a completed application to the Virginia Bureau of Financial Institutions, provide a surety bond of $25,000-$500,000, demonstrate minimum net worth of $100,000, provide audited financial statements, implement a comprehensive BSA/AML filings program, and pass background checks for all control persons. Many states now accept applications through NMLS. The application process typically takes 3-12 months depending on the state and complexity of the applicant's business model.

Renewals

Money transmitter licenses in Virginia generally require annual renewal. Renewal typically requires submission of audited financial statements, updated surety bond, quarterly or annual transaction reports, BSA/AML filing documentation, and payment of renewal fees. Some states require call report filings on a quarterly basis throughout the year.

Money transmitters operating in Virginia are also generally expected to register with FinCEN as a money services business (MSB) and implement a comprehensive BSA/AML filings program. This includes appointing a filings officer, developing written policies and procedures, conducting employee training, filing Currency Transaction Reports (CTRs), and submitting Suspicious Activity Reports (SARs). Virginia may have specific requirements for cryptocurrency and virtual currency businesses.

Key statutes

  • Virginia Money Transmitter Act (VA Code) . State-specific money transmission regulation
  • Bank Secrecy Act (Federal) (31 U.S.C. § 5311) . Federal BSA/AML requirements for money services businesses

mortgage

Virginia Mortgage Laws & Licensing Requirements

Complete guide to mortgage licensing requirements in Virginia. Covers MLO licensing through NMLS, lender and servicer licensing, bond requirements, and key statutes governing mortgage origination and servicing in Virginia.

Application process

Mortgage companies generally apply through the NMLS (Nationwide Multistate Licensing System) for Virginia mortgage licensing. Requirements include a completed MU1 form, surety bond, audited financial statements, business plan, background checks (FBI criminal and credit) for all control persons, and net worth requirements. Individual MLOs are generally required to complete pre-licensing education (20 hours minimum including 3 hours of federal law, 3 hours of ethics, 2 hours of non-traditional lending, plus Virginia-specific hours), pass the SAFE MLO test, and submit an MU4 form through NMLS.

Renewals

Mortgage licenses in Virginia are renewed annually through NMLS. Company renewals require updated financial statements, bond confirmation, and payment of renewal fees. MLOs are generally required to complete continuing education (8 hours minimum annually, including Virginia-specific requirements) and pay renewal fees through NMLS. The renewal period typically runs November 1 through December 31.

All mortgage companies and MLOs operating in Virginia are generally required to be registered through NMLS. Virginia participates in the CSBS multi-state licensing process. Additional requirements may include maintaining a physical office, appointing a qualified individual, and filings with both state and federal regulations including TILA, RESPA, and the Dodd-Frank Act.

Key statutes

  • SAFE Act (Federal) (12 U.S.C. § 5101) . Federal framework for MLO licensing through NMLS
  • Virginia Mortgage Lending Act (VA Code) . State-specific mortgage lending and servicing regulation in Virginia

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Bonds and insurance in Virginia

Where Virginia conditions a license on a posted surety bond, these pages carry the statutory bond amount and filing steps.

Get a Virginia surety bond quote Explore business insurance

Virginia regulator contacts

The state agencies that issue and oversee the licenses above.

  • Virginia Attorney General (consumer protection) debt collection licensing
  • Virginia Bureau of Financial Institutions money transmitter, mortgage licensing

Planning tools and data

Scope a Virginia expansion before you file.

Download the Virginia dataset (CSV) License, bond, fee, and renewal data for Virginia in one file.
Regulatory Watch

Stay Ahead of the Rules

Recent rule changes, deadline announcements, and state agency updates we are tracking for you.

  • Action FTC May 5, 2026

    FTC sues over deceptive health care marketing scheme

    On April 22, 2026, the FTC announced a case to stop a deceptive health care scheme that allegedly impersonated the government and large insurance carriers. The item is advertising-adjacent rather than a debt collection or lending rule change, but it falls within the search window as a consumer marketing enforcement action.

    Read explainer