Financial Services Office

The Financial Services Office licenses payday lenders, mortgage and other non-bank lenders, and other financial service providers, and is responsible for the regulation of three separate laws:

• California Deferred Deposit Transaction Law (Payday Lenders)
• California Financing Law
  • Small Dollar Loans Pilot Program
  • PACE Program Administrators
• Check Sellers, Bill Payers and Proraters Law

Financial Services Office application and examinations:

Financial Services Office reviews applications for licensure under the laws. If all requirements are met, companies receive a license. Once licensed, a company is included in the regulatory examination cycle for that industry.

Financial service offices undergo regulatory examinations every one to four years at their licensed location. The goal is to ensure compliance with laws, regulations, and financial stability. The Financial Services Office also analyzes financial information to monitor and address any issues. Additionally, they have the authority to conduct examinations at any time if needed.

Violations of the laws California Financial Code and the California Code of Regulations are handled by the Department’s Enforcement Division (ENF).

Financial Services Office also works with the United States Attorney’s office and the Department of Housing and Urban Development in the regulation of lenders.

Financial Services Office staff also utilizes the informational resources of the National Association of Consumer Credit Administrators to assist in the regulation of lenders.

Financial Services Division Leadership