Oregonians Can Renew Driver Licenses Online Starting in Early May

Many Oregon residents will be able to renew their driver licenses, permits, and identification cards online at DMV2U starting in early May, possibly as early as May 5.

This new feature coming to DMV2U.Oregon.gov will save thousands of residents a trip to a DMV office and free up appointment times for others. Demand for appointment slots and DMV services remains high because of the COVID-19 backlog.

When someone renews online, they will be able to print a receipt to carry with them. Law enforcement can verify their driving privileges electronically in the event of a traffic stop.

This online option comes at a critical time. DMV mails renewal reminders to customers about two months before expiration, but many reminders intended to be mailed this winter were delayed by a programming error. Those customers may be eligible to renew online in May faster than waiting for an appointment. News of the online renewal option has been added to the reminders.

Grace Period for Late Renewal

Oregon residents with a vehicle registration, permit, or driver license that expires between Nov. 1, 2020, and April 30 have up to three months after their expiration date to renew. DMV and Oregon Law enforcement have an agreement that officers will use discretion in a traffic stop when a customer has an expired license or vehicle tag and is within the grace period.

A bill making its way through the Oregon legislature would grant a six-month grace period from expiration through the end of 2021.

Additionally, there is no penalty or extra fee for renewing your driver license, permit or ID card up to 12 months after your expiration date.

Credentials that Can be Renewed Online Starting in May

Oregonians will be able to renew their:

  • Driver license
  • Commercial driver license (except CDL with hazmat or farm endorsement)
  • ID card
  • Instruction permit
  • Motorcycle instruction permit
  • Restricted moped-only license
  • Disability golf cart driver permit

Online renewal will allow people to:

  • Change address if they have moved
  • Add or remove the organ donation option from record

In order to qualify for online renewal, there are a few requirements:

  • Existing card must be within 12 months of its expiration date
  • Previous renewal was done in person at a DMV office
  • Not suspended or owe a reinstatement fee from a previous suspension

Vision Test Waived for Drivers Aged 50 and Older Renewing Online

For the next two years, DMV will postpone the vision test required for drivers age 50 and older who renew online. This will enable more Oregonians to renew online instead of making an appointment at DMV.

Drivers 50 and older who renew online will be required to pass that screening no later than their next renewal.

To be certain that and individual is eligible to renew their current Oregon card online in early May, they should go to DMV2U.Oregon.gov and start using the online renewal option. It will ask questions, and if they are eligible to renew online, they will be able to complete the transaction using a debit/credit card.

For more information, visit the site online.

Make Sure You Have the Right ID for Air Travel

If an individual plans to travel by air in the future, they should make sure they have what they need to fly within the United States. Starting Oct. 1, they will need a Real ID-compliant form of ID at airport security checkpoints for all flights. Many people already have a Real ID-compliant credential, like a passport or passport card. Find out the best option for air travel ID online.

Question of the Week
Q. We suspect that an individual has brought in a fraudulent U.S. Treasury check. Is there a way we can verify the legitimacy of the check?

A. Yes. The Treasury has a website that enables financial institutions to verify the check online. In addition to the verification website, the Treasury has a guide that explains the security features that should be visible on the check.

Resources

Treasury Check Information System
U.S. Treasury Check Security Features

Compliance Alerts

Consumer financial Protection Bureau

CFPB Rescinds Series of Policy Statements to Ensure Industry Complies with Consumer Protection Laws: The CFPB announced it is rescinding seven policy statements issued last year that provided temporary flexibilities to financial institutions in consumer financial markets including mortgages, credit reporting, credit cards and prepaid cards. The rescinded policy statements were issued between March 26 through June 3, 2020, and temporarily provided financial institutions with flexibilities regarding certain regulatory filings or compliance with consumer financial laws and regulations.

CFPB Compliance Bulletin Warns Mortgage Servicers: Unprepared is Unacceptable: The CFPB issued a bulletin warning mortgage servicers to take necessary steps to prevent avoidable foreclosures later this year. With 2.7 million homeowners currently in forbearance, servicers should make plans to dedicate sufficient resources and staff to ensure they can assist borrowers needing help once the pandemic-related federal emergency mortgage protections expire.

CFPB Proposes Mortgage Servicing Changes to Prevent Wave of COVID-19 Foreclosures: The CFPB is proposing amendments to the mortgage servicing rules which would establish a temporary COVID-19 emergency pre-foreclosure review period until December 31, for principal residences. In addition, the proposed amendments would temporarily permit mortgage servicers to offer certain loan modifications made available to borrowers experiencing a COVID-19-related hardship based on the evaluation of an incomplete application. The Bureau also proposes certain amendments to the early intervention and reasonable diligence obligations that Regulation X imposes on mortgage servicers.

Financial Crimes Enforcement Network

FinCEN Launches Regulatory Process for New Beneficial Ownership Reporting Requirement: FinCEN issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit comment on the implementation of the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA). The CTA requires FinCEN to maintain the reported beneficial ownership information in a confidential, secure, and non-public database. Furthermore, the CTA authorizes FinCEN to disclose beneficial ownership information subject to appropriate protocols and for specific purposes to several categories of recipients, such as federal law enforcement. Finally, the CTA requires FinCEN to revise existing financial institution customer due diligence regulations concerning beneficial ownership to take into account the new direct reporting of beneficial ownership information.

Financial Institution Examination Council

2021 Guide to HMDA Reporting: The FFIEC released the 2021 edition of the “Guide to HMDA Reporting: Getting it Right!” The 2021 version reflects updates to incorporate content from the April 2020 HMDA rule changes.

Internal Revenue Service

IRS Provides Guidance for Employers Claiming the Employee Retention Credit for First Two Quarters of 2021: The IRS issued Notice 2021-23 which explains changes to the Employee Retention Credit for the first two calendar quarters of 2021.

Office of Foreign Assets Control

OFAC has updated the SDN list as of March 31. The last update prior to this was March 25.

Questions? Contact the Compliance Hotline: 1.800.546.4465; compliance@nwcua.org.

Posted in Compliance, Compliance News.