California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 11.3 - Debt Collection Licensing Act
Article 2 - Application for Licensure and Related Forms
Section 1850.15 - Denial of License Application

Universal Citation: 10 CA Code of Regs 1850.15

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(a) The Commissioner may deny an application for a license for any of the reasons in Section 100012, subdivision (b)(1) through (b)(7), of the Financial Code.

(b) The Commissioner will consider the following factors in deciding whether to deny a license to an applicant, or applicants in the case of affiliates seeking to be licensed under the same license:

(1) The nature and seriousness of the applicant's prior violations involving dishonesty, fraud, or deceit that are substantially related to the qualifications, functions, or duties of a person engaged in the business of debt collection.

(2) The harm to consumers from the applicant's prior violations involving dishonesty, fraud, or deceit that are substantially related to the qualifications, functions, or duties of a person engaged in the business of debt collection.

(3) The number and frequency of the applicant's prior violations involving dishonesty, fraud, or deceit that are substantially related to the qualifications, functions, or duties of a person engaged in the business of debt collection.

(4) The number of prior disciplinary actions taken against the applicant by regulatory agencies in California or other states.

(5) Whether permitting an affiliate or affiliates to be licensed under the same license would violate or facilitate the violation of other laws.

(c) The Commissioner may deny an application for a license based on the prior violations or disciplinary actions of a single affiliate under the application.

Note: Authority cited: Section 100003, Financial Code. Reference: Section 100012, Financial Code.

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