2020 California Code
Financial Code - FIN
DIVISION 24 - California Consumer Financial Protection Law
CHAPTER 7 - Oversight
Section 90010.

(a) This section shall apply to any covered person who meets any of the following conditions:

(1) Offers or provides origination, brokerage, or servicing of loans secured by real estate for use by consumers primarily for personal, family, or household purposes, or loan modification or foreclosure relief services in connection with those loans.

(2) Is a registrant of the department that is required to be registered by statute or by rule.

(3) The department has reasonable cause to determine, by order, after notice to the covered person that the covered person is offering or providing financial products or services.

(4) Is a service provider to a person described in paragraphs (1) to (3), inclusive.

(b) The department may require reports and conduct examinations on a periodic basis of persons described in subdivision (a) for purposes of all of the following:

(1) Assessing compliance with the requirements of consumer financial laws.

(2) Obtaining information about the activities and compliance systems or procedures of that person.

(3) Detecting and assessing risks to consumers, small business, and to markets for consumer financial products and services.

(c) This division shall not be construed to limit the authority of the commissioner to require reports from persons described in subdivision (a), as permitted under subdivision (b), regarding information owned or under the control of the person, regardless of whether the information is maintained, stored, or processed by another person.

(Added by Stats. 2020, Ch. 157, Sec. 7. (AB 1864) Effective January 1, 2021.)