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Entries tagged “lending”

New California Finance Lender Licensing and Residential Mortgage Lending Act Regulations Effective September 28, 2016: Financial Institution Subsidiaries and Affiliates Now Subject to Licensure!

insights New California Finance Lender Licensing and Residential Mortgage Lending Act Regulations Effective September 28, 2016: Financial Institution Subsidiaries and Affiliates Now Subject to Licensure! John R. Mussman · September 7, 2016

The California Finance Lenders Law exempts banks, thrifts and certain other financial institutions from its licensing requirements imposed on finance lenders and brokers.1 Similarly, the California Residential Mortgage Lending Act exempts banks, trust companies, savings and loan associations and other thrifts2 from its licensing requirements.3 Effective September 28, 2016, California’s amended regulations provide that subsidiaries and other affiliates…

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