Updating Your Institution’s Legal Name

Before amending the MU1R, ensure your institution’s new legal name is updated in the Federal Reserve’s NIC Database. Then request and process the legal name change through NMLS and submit the update.

About this task

Use this procedure when your federally regulated institution has changed its legal name. NMLS verifies the name against the Federal Reserve System’s National Information Center (NIC) Database; ensure that record is correct prior to submitting the request in NMLS.

Procedure

  1. Navigate to the NMLS Login page (Federal Context).
  2. Log in to your NMLS account.
    Note: If you are landed on the NMLS Connect screen, select NMLS Federal Registry in the Quick Links section.
    NMLS Federal Registry Quick Link
  3. Select the Federal context, if the Context screen is displayed.
    Note: Be sure you are in the Federal context by selecting Federal from the You are currently drop down list. Your screen should display the Federal Registry watermark.
    NMLS Context Selector
  4. Confirm your institution’s new legal name is correctly reflected in the NIC Database.
    Note: To prevent processing delays, update the NIC record before requesting the legal name change in NMLS. If the NIC entry is incorrect, contact the appropriate Federal Reserve Bank NIC contact to correct it; allow time for the update to propagate to NMLS Entitlement.
  5. Contact the NMLS Call Center at 1-855-665-7123 and request the Federal Institution Legal Name Change Request Form.
    Note: This request form can only be sent to an institution’s Account Administrators or Contact Person.
  6. Complete the request form and submit it following the instructions on the form.
  7. Wait for NMLS Entitlement to verify the name change in the NIC Database and update your institution’s legal name in NMLS.
    Note: You will receive a call from the NMLS Call Center confirming the change.
  8. In NMLS, click the Filing tab.
  9. Click MU1R on the sub-menu.
  10. Click Create New Filing.
    Note: If Create New Filing is not available, a pending filing may already exist. Click the Edit icon to continue editing the pending MU1R filing, or click the Delete icon to remove it and start a new filing.
  11. Use the left navigation to review the sections impacted by the legal name change, make any additional required updates, and click Save.
  12. Click Attest and Submit, check the identity verification box, and click Attest and Submit to finalize the update.

Results

Once processed, the filing becomes a historical filing and can be viewed from Historical Filings or via Composite View.

What to do next

Important: MLOs must update the Employment Records section of the MU4R to reflect the updated institution legal name; an individual’s employer name does not update automatically.