Fair Access to Credit Act, AB 539 Requirements

The Department of Business Oversight has posted requirements for licensees making consumer loans of $2,500 to $10,000 under the Fair Access to Credit Act (Assembly Bill 539, Limón, Statutes of 2019). The posted notice, which has been emailed to all licensees under the California Financing Law, covers permissible charges, credit education programs, consumer reporting and other provisions of the new law.

• Read the posted notice: New Requirements for Licensees Making Consumer Loans of $2,500 to $10,000 California Financing Law