DFPI amends requirements for increased access to RSDL program
Amendments to regulations under the California Financing Law were related to a pilot program for increased access to responsible small-dollar loans.
Amendments to regulations under the California Financing Law were related to a pilot program for increased access to responsible small-dollar loans.
The bill, among other things, revises provisions related to prohibited activities without a license and establishes requirements for virtual currency transfers.
Among other things, the new bill establishes that a money transmission license is not transferable or assignable, but a licensee may be acquired under certain circumstances.