Cal. Code Regs. tit. 10 § 1950.314.7

Current through Register 2024 Notice Reg. No. 45, November 8, 2024

Section 1950.314.7 - Payment Processing

A licensee shall credit any payment made to a borrower's account on the same business day the payment is received by the licensee, regardless of the date of processing. As a general rule, a licensee shall process any payment to a borrower's account within two business days from the business day the payment is received by the licensee.

Cal. Code Regs. Tit. 10, § 1950.314.7

1. New section filed 11-25-96; operative 12-25-96 (Register 96, No. 48).

Note: Authority cited: Section 50304, Financial Code. Reference: Section 50314, Financial Code.

1. New section filed 11-25-96; operative 12-25-96 (Register 96, No. 48).