Section 22377 Of Article 3.6. Pilot Program For Increased Access To Responsible Small Dollar Loans From California Financial Code >> Division 9. >> Chapter 2. >> Article 3.6.
22377
. (a) The commissioner may examine the operations of each
licensee and each finder to ensure that the activities of the
licensee and the finder are in compliance with this article. The
costs of the commissioner's examination of each finder shall be
attributed to the commissioner's examination of the licensee. Any
violation of this article by a finder or a finder's employee shall be
attributed to the finance lender with whom it has entered into an
agreement for purposes of determining the licensee's compliance with
this division.
(b) Upon a determination that a finder has acted in violation of
this article, or any implementing regulation, or upon a determination
that it would be warranted by the data reported to the commissioner
pursuant to subdivision (c) of Section 22375 for any finder, the
commissioner may disqualify a finder from performing services under
this article, bar a finder from performing services at one or more
specific locations of that finder, terminate a written agreement
between a finder and a licensee, and, if the commissioner deems that
action in the public interest, prohibit the use of that finder by all
licensees accepted to participate in the pilot program.
(c) In addition to any other penalty allowed by law, the
commissioner may impose an administrative penalty up to two thousand
five hundred dollars ($2,500) for violations of this article
committed by a finder.