California Financing Law: Regulations, Opinions, Releases
The California Financing Law is contained in Division 9 (commencing with Section 22000) of the California Financial Code and the regulations are contained in Chapter 3, Title 10, California Code of Regulations, commencing with Section 1404. Requirements for commercial financing disclosures are contained in Division 9.5 (commencing with Section 22800) of the California Financial Code.
Final Regulations
PRO 01-21 – CCFPL, CFL, CDDTL, and SLSA – Registration Requirements under the CCFPL
Adopt: Sections 1000, 1001, 1002, 1003, 1004, 1010, 1011, 1012, 1020, 1021, 1022, 1023, 1024, 1025, 1026, 1030, 1031, 1032, 1033, 1034, 1040, 1041, 1042, 1043, 1044, 1045, 1048, 1050, 1051, 1052, 1430.1, 1461, 1462.5, 1464, 1465, 1466, 1467, 2030.5, and 2044.1
Date: October 11, 2024
Effective: February 15, 2025
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
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
Proposed Regulations
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)**
- 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)
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 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 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
Fourth Modifications to Proposed Text
Comment Period Ends: January 13, 2021
Third Modifications to Proposed Text
Comment Period Ends: December 3, 2020
Second Modifications to Proposed Text
Comment Period Ends: September 18, 2020
Modifications to Proposed Text
Comment Period Ends: June 12, 2020
Initial Proposed Text
Comment Period Ends: December 9, 2019
PRO 03/13 – Nondepository Subsidiaries and Affiliates
Comment Period Ends: September 21, 2015
PRO 03/13 – Nondepository Operating Subsidiaries
Comment Period Ends: September 3, 2015
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 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)
Invitation For Comments
1/17/2020 – PRO 01/18 – Commercial Financing Disclosures (SB 1235)
Comment Period Ends: January 31, 2020.
7/26/19 – PRO 01/18 – California Financing Law (CFL) Commercial Financing Disclosures
Comment Period Ends: September 9, 2019.
- 2nd Invitation for Comments – Comment Period Ends: September 9, 2019 (PDF)
- Draft text (PDF)
- Disclosures:
12/04/18 – PRO 01/18 – California Financing Law (CFL) Commercial Financing Disclosures
Comment Period Ends: January 22, 2019.
4/19/18 – PRO 02/17 – Property Assessed Clean Energy (PACE) Program Administrators
Comment Period Ends: June 8, 2018.
PRO 02/17 – Property Assessed Clean Energy (PACE) Program Administrators
Comment Period Ends: January 5, 2018
Approved Regulations
- PRO 02/17 – NMLS Transition for California Financing Law Applicants and Licensees, and Requirements for PACE Program AdministratorsADOPT: Title 10, California Code of Regulations, Sections 1422.5.1, 1620.01, 1620.02, 1620.03, 1620.05, 1620.06, 1620.07, 1620.08, 1620.10, 1620.11, 1620.12, 1620.13, 1620.14, 1620.15, 1620.16, 1620.17, 1620.19, 1620.21, 1620.22, 1620.25, 1620.27, 1620.28, and 1620.29.AMEND: Title 10, California Code of Regulations, Sections 1404, 1408, 1409, 1409.1, 1411, 1422, 1422.4, 1422.4.5, 1422.5, 1422.6.2, 1422.6.2, 1422.7.1, 1422.9, 1422.10, 1422.12, 1423, 1424, 1425, 1426, 1437, 1550, and 1552.
Effective Date: October 1, 2021
- Text of Final Rules (PDF)
- Final Statement of Reasons (PDF)
- OAL’s Notice of Approval and Endorsed Form 400 (PDF)
Electronic Surety Bond, Effective April 27, 2021
ADOPT: Title 11, California Code of Regulations, Section 31.28
Effective Date: April 27, 2021
- PRO 03/13 – Nondepository Operating SubsidiariesEffective: September 28, 2016
- PRO 06/14 (PDF) – MLO Education and Testing Requirements
- PRO 15/13 – Pilot Program for Increased Access to Responsible Small Dollar Loans [SB 318 (Chapter 467, Statutes 2013)]ADOPT: Title 10, Sections 1600, 1601, 1602, 1603, 1604, 1605, 1606, 1606.1, 1607, 1608, 1609, 1610, 1611, 1612, 1613, 1614, 1615, 1616, 1617, and 1618AMEND: Title 10, Section 1550REPEAL: Title 10, Sections 1580, 1581, 1582, 1583, 1584, 1585, 1586, 1587, 1588, 1589, 1590, 1591, 1592, 1593, 1594, 1595, and 1596Effective Date of Rules: July 17, 2014
- PRO 18/11 – AB 1424 Franchise Tax Board: Delinquent Tax Debt
- PRO 14/10 – Finance Lenders Pilot Program – By Emergency OrderAdopt Sections 1580, 1581, 1582, 1583, 1584, 1585, 1586, 1587, 1588, 1589, 1590, 1591, 1592, 1593, 1594, 1595, and 1596Effective December 21, 2011
- PRO 16/08 – SAFE Mortgage Licensing Act
- PRO 01/07 – Nontraditional Mortgage Products
- PRO 21/05 – Fingerprint and Criminal History Record Checks, Application Form RevisionsPRO 21/05 – CFLL Fingerprint and Criminal History Record Check, Application Form Revisions, and Other Related MattersRule(s) 1409, 1422, and 1423Effective date: 12/07/07
- PRO 31/02 – Guarantee Loan Rules (Live Checks)PRO 31/02 – California Finance Lenders Law: Guarantee Loan Rules Live Checks)Rule: 1556Effective Date: 04/24/05
- OP 10/01- Implementing short and long form applications for licensureOP 10/01 – California Finance Lenders Law: Implement short and long form applications for licensure.Rule: 1422 and 1423Effective Date: 12/16/02