California Financing Law: Regulations, Opinions, Releases

PRO 01-18 Commercial Financing Disclosures SB 1235

ADD SECTIONS: 900, 901, 910, 911, 912, 913, 914, 915, 916, 917, 920, 921, 922, 930, 931, 940, 941, 942, 943, 950, 951, 952, 953, 954, 955, and 956.
DATE: June 9, 2022
EFFECTIVE: December 9, 2022

• Regulatory Text (PDF)
• Final Statement of Reasons (PDF)

PRO 04/21 – Pilot Program for Increased Access to Responsible Small Dollar Loans

AMEND: 1602, 1603, 1606, 1613, 1614, 1615, and 1616
DATE: May 10, 2022
EFFECTIVE: July 1, 2022

• Notice of Approval of Regulatory Action (PDF) 
• STD. Form 400 – Approved by the Office of Administrative Law and Filed in the Office of the Secretary of State and Order (Final Text) (PDF) 
• Final Statement of Reasons (PDF)

PRO 01-21 – CCFPL, CFL, CDDTL, and SLSA – Registration Requirements under the CCFPL

July 2, 2024 – Third Modifications to Proposed Text

Comment Period Ends: July 24, 2024

• PRO 01-21 – Notice of Extension of Comment Due Date to July 24, 2024 (PDF)
• PRO 01-21 – Notice of Third Modification to Proposed Rulemaking (PDF)
• PRO 01-21 – Third Modified Text of Proposed Regulations (PDF)*
• PRO 01-21 – Third Modified Text of Proposed Regulations (PDF)**
• PRO 01-21 – The modified text of the proposed regulations incorporates by reference NMLS Company Form (Form MU1), Version 13.0, dated 2/1/2024.
• View View comments on Third Modification to Proposed Text of PRO 01/21

*In this version, the original proposed text is shown without underline. The first modifications to the text are shown with underline for additions and strikethrough for deletions. The second modifications to the text are shown with double underline for additions and double strikethrough for deletions. The third modifications to the text are shown with italics for additions and strikethrough with italics for deletions.

**This version is provided as a courtesy to the public and shows the second modified text without underline. The third modifications to the text are shown with underline for additions and strikethrough for deletions.

April 26, 2024 – Office of Administrative Law Disapproval

• PRO 01-21 – Office of Administrative Law Disapproval Letter (PDF)*
• PRO 01-21 – Office of Administrative Law Disapproval Decision (PDF)

*An agency may rewrite and resubmit disapproved regulations to the Office of Administrative Law (OAL) within 120 days of an agency’s receipt of a written decision from OAL stating the reasons for disapproval. Written decisions must be issued within 7 calendar days of a disapproval letter.

March 14, 2024 – Filed with the Office of Administrative Law

• PRO 01/21 – Final Statement of Reasons (PDF)
• PRO 01/21 – Final Text (PDF)

The current status is available here.

January 17, 2024 - Second Modifications to Proposed Text

Comment Period Ends: February 6, 2024

• PRO 01-21 – Notice of Second Modification to Proposed Action (PDF)
• PRO 01-21 – Second Modified Text of Proposed Regulations (PDF)*
• PRO 01-21 – Second Modified Text of Proposed Regulations (PDF)**
• View comments on Second Modification to Proposed Text of PRO 01/21

* In this version, the original proposed text is shown without underline. The first modifications to the text are shown with underline for additions and strikethrough for deletions. The second modifications to the text are shown with double underline for additions and double strikethrough for deletions.

** This version is identical to the version described immediately above but is provided as a courtesy to the public so that readers can more easily identify and comment on changes made since the last comment round. This version shows the first modified text without underline. The second modifications to the text are shown with underline for additions and strikethrough for deletions.

Nov 6, 2023 - First Modifications to Proposed Text

Comment Period Ends: November 27, 2023

• PRO 01-21 – Notice of First Modification to Proposed Action (PDF)
• PRO 01-21 – First Modified Text of Proposed Regulations (PDF)
• View comments on First Modification to Proposed Text of PRO 01/21

April 5, 2023 - Initial Proposed Text

Comment Period Ends: May 17, 2023

• PRO 01-21 - Notice of Extension of Comment Due Date to May 17, 2023 (PDF)
• PRO 01-21 – Notice of Proposed Action (PDF)
• PRO 01-21 – Text of Proposed Regulations (PDF)
• PRO 01-21 – Initial Statement of Reasons (PDF)
• PRO 01-21 – 2021 Earned Wage Access Data Findings (Cited in ISOR) (PDF)
• View Comments on PRO 01-21

PRO 04/21 – Pilot Program for Increased Access to Responsible Small Dollar Loans

October 6, 2021 – Modification to Proposed Text

Comment Period Ends: October 21, 2021

• PRO 04/21 Notice of Modification to Proposed Regulations (PDF)
• PRO 04/21 Proposed Modified Text (PDF)
• View Comments on Modification to Proposed Text of PRO 04/21

Initial Proposed Text

Comment Period Ends: September 20, 2021

AMEND: Title 10, Sections 1602, 1603, 1606, 1613, 1614, 1615, and 1616.

• PRO 04/21 – Notice (PDF)
• PRO 04/21 – Proposed Text (PDF)
• PRO 04/21 – Initial Statement of Reasons (PDF)
• View Comments on Proposed Regulation – PRO 04/21 

PRO 01/18 – Commercial Financing Disclosures (SB 1235)

Note: These regulations have been approved. Please see Final Regulations above.

December 30, 2021 – Under Review with the Office of Administrative Law

• OAL File Number 2021-1230-02 (See Proposed Regulations Under Review)

November 5, 2021 – Notice of Fourth Modifications to Proposed Regulations and Revised Regulation Text

• Notice of Fourth Modifications to Proposed Regulations Under Division 9.5 of the California Financial Code (PDF)
• Revised PRO 01/18 (SB 1235) Regulation Text (PDF)
• Comments on Modification to Proposed Regulations of PRO 01/18 – November 5, 2021

October 12, 2021 – Notice of Third Modifications to Proposed Regulations and Revised Regulation Text

• Notice of Third Modifications to Proposed Regulations Under Division 9.5 of the California Financial Code (PDF)
• Revised PRO 01/18 (SB 1235) Regulation Text (PDF)
• View Comments on Modification to Proposed Regulations of PRO 01/18 – October 12, 2021

August 9, 2021 – Notice of Second Modification to Proposed Regulations and Revised Regulation Text

• Notice of Second Modifications to Proposed Regulations Under Division 9.5 of the California Financial Code (PDF)
• Revised PRO 01/18 (SB 1235) Regulation Text (PDF)
• View Comments on Modification to Proposed Regulations of PRO 01/18 – August 9, 2021

April 7, 2021 – Notice of Modification to Proposed Regulations and Revised Regulation Text

Comment Period Ends: April 26, 2021

• Notice of Modifications to Proposed Regulations Under Division 9.5 of the California Financial Code (PDF)
• Revised PRO 01/18 (SB 1235) Regulation Text (PDF)
• View Comments on Modification to Proposed Regulations of PRO 01/18 – April 7, 2021

Notice of Public Hearing

Public Hearing Scheduled: November 9, 2020 (PDF)

• In the matter of the public hearing of: Proposed Commercial Financing Disclosure Regulations, Virtual Transcript of Proceedings, Monday, November 9, 2020 (PDF)
• View Comments on PRO 01/18 – Notice of Public Hearing

Initial Proposed Text

Comment Period Ends: October 28, 2020

• PRO 01/18 Notice (PDF)
• PRO 01/18 Proposed Text (PDF)
• PRO 01/18 Initial Statement of Reasons (PDF)
• View Comments on PRO 01/18 – Initial Proposed text

PRO 02/17 – NMLS Transition for California Financing Law Applicants and Licensees, and Requirements for PACE Program Administrators

See “Approved Regulations,” below, for the final rules.

Fifth Modifications to Proposed Text

Comment Period Ends: July 22, 2021

• PRO 02/17 Fifth Notice of Modifications (PDF)
• PRO 02/17 Fifth Proposed Modified Text (PDF)

Fourth Modifications to Proposed Text

Comment Period Ends: January 13, 2021

• PRO 02/17 Notice of Fourth Modifications (PDF)
• PRO 02/17 Proposed Fourth Modified Text (PDF)

Third Modifications to Proposed Text

Comment Period Ends: December 3, 2020

• PRO 02-17 Notice of Third Modifications (PDF)
• PRO 02/17 Proposed Third Modified Text (PDF)

Second Modifications to Proposed Text

Comment Period Ends: September 18, 2020

• PRO 02-17 Notice of Second Modifications (PDF)
• PRO 02/17 Proposed Second Modified Text (PDF)

Modifications to Proposed Text

Comment Period Ends: June 12, 2020

• PRO 02/17 Notice of Modifications (PDF)
• PRO 02/17 Proposed Modified Text (PDF)

Initial Proposed Text

Comment Period Ends: December 9, 2019

• PRO 02/17 Notice (PDF)
• PRO 02/17 Proposed Text (PDF)
• PRO 02/17 Initial Statement of Reasons (PDF)

PRO 03/13 – Nondepository Subsidiaries and Affiliates

Comment Period Ends: September 21, 2015

• Notice of Modifications – Comment Period End: September 21, 2015 (PDF)
• 2nd 15 Day Text  (PDF)

PRO 03/13 – Nondepository Operating Subsidiaries

Comment Period Ends: September 3, 2015

• Notice of Modifications – Comment Period End: September 3, 2015 (PDF)
• 15 Day Text (PDF)

PRO 03/13 – Nondepository Operating Subsidiaries

Comment Period Ends: August 7, 2015

• Notice of Modifications – Comment Period Ends: August 7, 2015 (PDF) 
• Proposed Text for PRO 03/13 (PDF)

PRO 03/13 – Nondepository Operating Subsidiaries

Comment Period Ends: December 8, 2014

ADOPT: Title 10, Sections 1422.3 and 1950.122.4.2

PRO 03/13 – Notice (PDF) 

PRO 03/13 – Proposed Text (PDF) 

PRO  03/13 – Initial Statement of Reasons (PDF)

PRO 06/14 – MLO Education and Testing Requirements

Comment Period Ends: May 4, 2015

AMEND: Title 10, Sections 1422.6.1, 1422.6.3, 1950.122.5.1, and 1950.122.5.3.

• PRO 06/14 – Notice (PDF)
• PRO 06/14 – Proposed Text (PDF)
• PRO 06/14 – Initial Statement of Reasons (PDF)