1. As a condition for achieving and maintaining NMLS approval status, Tap Money Institute attests to having in place processes for the retention and retrieval of data and documents associated with the delivery of all NMLS approved courses.
2. For the purposes of this policy, the following definitions apply:
Course –the term “course” refers to an instance of instruction that has been approved by NMLS and issued a NMLS Course Number and actually delivered to the student in accordance with NMLS-approved standards.
Course data and documents – is defined as any data or document contained in a course. This includes, but is not limited to:
Retention – is defined as five (5)years from the last date the course is taught or administered.
Attest – is defined as agreeing to the data and document retention statement, which is included in Section 3(F) of Standards of Conduct for Course Providers
Section3(F) of the Standards of Conduct for Approved Course Providers
“As a condition for achieving and maintaining NMLS approval status, Course Provider attests to having in place processes for the retention of data and documents associated with the delivery of NMLS approved courses for a period of five years. Further, the organization agrees that NMLS retains the ability to audit Course Data, as needed, to. ensure Course Provider is properly administering courses and tracking student participation. Accordingly, Course Provider must make CourseData available to SRR within 14 calendar days of a written request from SRR”.
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