§ 100003. — 100003. (Added by Stats. 2020, Ch. 163, Sec. 3.)

California § 100003.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 25.: DIVISION 25. Debt Collection Licensing Act
• Ch. 2.: CHAPTER 2. Licensing
• Art. 1.: ARTICLE 1. Commissioner on Financial Protection and Innovation

Text

(a)
The commissioner shall administer this division and may adopt rules and regulations, and issue orders, consistent with that authority.
(b)
Without limitation, the functions, powers, and duties of the commissioner include all of the following:
(1)
To issue or to refuse to issue a license as provided in this division.
(2)
To allow affiliated companies to be under a
single license. The commissioner shall adopt regulations specifying what constitutes an affiliated company for these purposes.
(3)
To revoke or suspend any license for a violation of this division or a violation of Title 1.6C (commencing with Section 1788) or Title 1.6C.5 (commencing with Section 1788.50) of Part 4 of Division 3 of the Civil Code.
(4)
To keep records of licenses issued under this division.
(5)
To receive, consider, investigate, and act upon a complaint made in connection with a licensee.
(6)
To prescribe the form of and to receive applications for licenses and reports, books, and records required to be made or retained by a licensee.
(7)
To subpoena documents and witnesses, and to compel their attendance and production, to administer oaths, and to require the production of books, papers, or other materials relevant to any inquiry authorized by this division.
(8)
To require information with regard to an applicant that the commissioner may deem necessary, with regard for the paramount public interest in ascertaining the experience, background, honesty, truthfulness, integrity, and competency of an applicant for collecting consumer debt, and if an applicant is an entity other than an individual, in ascertaining the honesty, truthfulness, integrity, and competency of officers, directors, or managing members of the corporation, association, or other entity, or the general patters of a partnership.
(9)
To enforce by order any provision of this division.
(10)
To levy fees, fines, and charges in an amount sufficient to cover the cost of the services performed in administering this division. The fees collected pursuant to this division shall not exceed the costs of administering this division.

Legislative History

Added by Stats. 2020, Ch. 163, Sec. 3. (SB 908) Effective January 1, 2021. Operative January 1, 2022, pursuant to Sec. 100000.5.