California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 6 - California Financing Law
Article 14 - Pilot Program for Increased Access to Responsible Small Dollar Loans
Subarticle 6 - Books, Records and Examinations
Section 1610 - Licensee's Evidence of Compliance with Consumer Reporting and Underwriting Standards
Universal Citation: 10 CA Code of Regs 1610
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
(a) A licensee shall retain for every loan the following documents for purposes of compliance with consumer reporting and loan underwriting standards:
(1) Evidence that the payment performance of
each borrower, on every loan made to that borrower, is being reported to one or
more of the consumer reporting agencies in the United States under subdivision
(f)(2) of Section
22370 of
the Financial Code, and that each borrower is provided with the name of the
consumer reporting agency or agencies to which the borrower's payment history
will be reported to under subdivision (f)(3) of that same code
section.
(2) All evidence of loan
underwriting under Section
22370, subdivision (f)(4), of the
Financial Code, including a copy of any information obtained through electronic
means or relied upon in underwriting the loan.
1. New subarticle 6 (sections 1610-1618) and section filed 7-17-2014; operative 7-17-2014 pursuant to Government Code section 11343.4(b)(3) (Register 2014, No. 29).
Note: Authority cited: Section 22150, Financial Code. Reference: Section 22370, Financial Code.
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