California Financial Code ARTICLE 3.6 - Pilot Program for Increased Access to Responsible Small Dollar Loans
- Section 22365.
(a) The Pilot Program for Increased Access to Responsible Small Dollar Loans is hereby established.(b) The Legislature finds and declares that consumer demand for responsible installment loans...
- Section 22366.
(a) Any entity licensed under this chapter that wishes to participate in the program, that is in good standing with the commissioner and has no outstanding...
- Section 22367.
Every entity approved by the commissioner to participate in the program shall file with the commissioner on or before March 15 an annual report consistent...
- Section 22368.
Except as otherwise provided, nothing in this article shall exempt any licensee from any of the provisions of this division or Section 1632 of the...
- Section 22369.
No licensee may offer or make a loan, nor impose any charges or fees pursuant to Section 22370, nor use a finder pursuant to Section...
- Section 22370.
(a) Any loan made pursuant to this section shall comply with the following requirements:(1) The loan shall be unsecured.(2) Interest on the loan shall accrue on a simple-interest...
- Section 22371.
(a) A licensee who is approved by the commissioner to participate in the program may use the services of one or more finders as provided in...
- Section 22372.
(a) A finder may perform one or more of the following services for a licensee at the finder’s physical location for business:(1) Distributing, circulating, using, or publishing...
- Section 22373.
(a) At the time the finder receives or processes an application for a program loan, the finder shall provide the following statement to the applicant, on...
- Section 22374.
(a) A finder may be compensated by the licensee pursuant to the written agreement between the licensee and the finder, as described in Section 22376. Compensation...
- Section 22375.
A licensee that utilizes the service of a finder shall do all of the following:(a) Notify the commissioner within 15 days of entering into a contract...
- Section 22376.
All arrangements between a licensee and a finder shall be set forth in a written agreement between the parties. The agreement shall contain a provision...
- Section 22377.
(a) The commissioner may examine the operations of each licensee and each finder to ensure that the activities of the licensee and the finder are in...
- Section 22378.
Notwithstanding the requirements of Section 22102 and its implementing regulations, a licensee accepted to participate in the program may appoint one or more branch managers...
- Section 22379.
(a) Notwithstanding any other law, the commissioner shall examine each licensee that is accepted into the program at least once every 24 months.(b) Notwithstanding subdivision (a), the...
- Section 22380.
(a) On or before July 1, 2015, and annually on or before July 1, 2017, to July 1, 2021, inclusive, the commissioner shall post a report...
- Section 22380.5.
(a) The Pilot Program for Affordable Credit-Building Opportunities as described in Article 3.5 (commencing with Section 22348) is abolished.(b) All powers, duties, purposes, jurisdiction, responsibilities, and functions...
- Section 22381.
This article shall remain in effect only until January 1, 2023, and as of that date is repealed.(Amended by Stats. 2016, Ch. 480, Sec. 3....
Last modified: October 22, 2018