California Financing Law Archived Announcements

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2021

• December 2021 – The DFPI is extending the deadline for CFL licensees to transition onto NMLS until March 15, 2022.
• August 2021 – Effective October 1, 2021, all applications under the CFL must be submitted through NMLS. Licensees not yet on NMLS must transition onto NMLS by December 31, 2021.
• July 2021 – CFL licensees not on NMLS may now transition onto NMLS. To begin the process of transitioning onto NMLS, select “Getting Started” on the NMLS Resource Center page. For more information on transitioning, refer to the NMLS guidance for Transitioning an Existing Company License and Transitioning an Existing Branch License. To find specific guidance under the California Financing Law, begin by selecting “California” on the State Licensing page and follow the links to the transition checklists for the Financing Law.
• July 2021 – Note: The regulations requiring all licensees to be on NMLS by December 31, 2021 will be effective on October 1, 2021.
• May 2021 – NMLS is now available for all new CFL applicants, including applicants not engaged in residential mortgage lending. For new applicants filing through NMLS, surety bonds must be submitted through the NMLS electronic surety bond process. To begin the process of applying through NMLS, select “Getting Started” on the NMLS Resource Center page. Existing CFL licensees not on NMLS may transition onto NMLS beginning in July 2021. Watch for more information coming soon.
  • Note: If an applicant wants to apply in paper rather than through NMLS, the applicant may do so until October 1, 2021. However, the applicant will be required to transition its application and bond onto NMLS by December 31, 2021. The paper application is available here.

2020

• 06/30/2020 – 2019 Annual Report for Licensees Participating in the Pilot Program for Increased Access to Responsible Small Dollar Loans (RSDL) (PDF)
• 06/26/2020 – 2019 Nonprofit Entities Providing Zero-Interest-Loans Annual Report (PDF)

2019

• 12/11/2019 – New Requirements for Licensees Making Consumer Loans of $2,500 to $10,000 California Financing Law

2018

• 12/04/2018 – CFL Commercial Financing Disclosure Regulations