Cal. Code Regs. tit. 21 § 7114.2
If an application for financial assistance for any purpose enumerated in Section 35810 of the Act is denied, or approved for an amount less than requested, or if there are any terms imposed that are less favorable than those imposed for similar purposes financial assistance provided to other applicants by that financial institution, the financial institution shall provide the principal applicant with a statement of the specific reason or reasons for such adverse action. Notification of action taken shall be in the manner prescribed by 12 CFR 202.9 (Regulation B), except that the definition of "adverse action" herein provided shall govern.
Cal. Code Regs. Tit. 21, § 7114.2
Note: Authority cited: Section 35814, Health and Safety Code. Reference: Sections 35810- 35814 and 35820, Health and Safety Code.