See my article on DeBanked titled, “California Finance Lenders Law Licensing Compliance for Merchant Cash Advance Financiers.”
Similarly, secured and unsecured commercial and consumer lenders, who lend to California borrowers, should also comply with the California finance lenders licensing laws and regulations. Consumer lenders should also comply with state and federal consumer lending and financial laws.
The Department of Business Oversight routinely conducts inspections of licensees and may revoke or suspend licenses for none-compliance. In case an Accusation ...Continue Reading →