Cal. Code Regs. tit. 21 § 7101

Current through Register 2024 Notice Reg. No. 49, December 6, 2024

Section 7101 - General Provisions

(a) These regulations shall supersede Title 10, California Code of Regulations, Subchapters 23 and 24, promulgated by the Savings and Loan Commissioner and shall be known as California's Fair Lending Regulations.

(b) A reference in any provision of this subchapter to a statute or to a regulation includes such statute or regulation as amended, whether before or after the effective date of such provision, as well as any new statute or regulation substituted for the statute or regulation after the effective date of the provision.

(c) A reference in any provision of this subchapter to a governmental agency or to a public officer includes any governmental agency or public officer which succeeds after the effective date of such provision to substantially the same functions as those performed by such governmental agency or public officer on the effective date of the provision.

(d) No provision of this subchapter shall be construed to require by implication that the Secretary hold a hearing on any matter.

(e) (Reserved)

(f) The Secretary or the Secretary's designee shall monitor compliance with the provisions of the Act through examination reports, surveys, and other reports required by state or federal law. Where existing reports are inadequate for assessing the financial institution's records under this subchapter, the Secretary or Secretary's designee may conduct other monitoring as necessary. The Commissioner of Financial Institutions shall consider the record of a financial institution licensed or chartered by the Commissioner of Financial Institutions with respect to the intent of this subchapter whenever such a financial institution applies for a new branch, a change in location, merger or consolidation.

(g) The provisions of this subchapter shall not apply to the purchase of loans or participations therein that have been originated in compliance with the Act and these regulations nor shall the purchaser of such loans be subject to the requirements of these regulations solely by reason of such purchase.

Cal. Code Regs. Tit. 21, § 7101

1. Order of Repeal of subsection (e) filed 6-3-85 by OAL pursuant to Government Code Section 11349.7; effective thirtieth day thereafter (Register 85, No. 26).
2. Change without regulatory effect amending subsection (a) filed 1-10-96 pursuant to section 100, title 1, California Code of Regulations (Register 96, No. 2).
3. Change without regulatory effect amending subsection (f) filed 2-5-2002 pursuant to section 100, title 1, California Code of Regulations (Register 2002, No. 6).

Note: Authority cited: Section 35814, Health and Safety Code. Reference: Sections 35800- 35833, Health and Safety Code.