Cal. Code Regs. tit. 4 § 10092.12

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

Section 10092.12 - Reporting

(a) The Finance Provider Entity must report to the Authority, on a monthly basis, on the status of each Enrolled Financing Agreement as well as on financing applications and decisions for the Program. The report is due to the Authority on the 5th day of the month, except the report will be due on the 6th day of the month if a bank holiday falls in the first week of the month.

(b) The report must include the following data points in a format approved by the Authority for Enrolled Financing Agreements:

(1) Financing ID;

(2) Whether the financing agreement is current, 30 days, 60 days, or 90 days past due, fully satisfied, or charged off;

(3) The current outstanding financed amount;

(4) Whether the financing agreement was sold, transferred, or assigned to a third party and the date of that sale, transfer, or assignment; and

(5) If the financing agreement was sold, transferred, or assigned, the name of the purchaser, transferee, or assignee and whether the transaction was in whole or in part.

(c) Once an FPE has reported an Enrolled Financing Agreement as having a zero balance or it is charged off, the FPE does not need to continue reporting on that agreement in future reports.

(d) For Savings-Based Payment Agreements where the payment amount fluctuates monthly, the Finance Provider Entity must report changes to the monthly payment amount annually, and no later than February 6 for the January monthly report.

(e) Upon request from the Authority, but not more than monthly, the FPE must make a good faith effort to provide the following marketing and activity information:

(1) Number of financing applications received during the reporting period;

(2) Number of applications approved during the reporting period;

(3) Description of any promotions or other noteworthy patterns or activities; and

(4) Changes in interest rates for the appropriate comparable non-SBF products of the FPE for the purpose of helping the Authority determine ongoing benefits to borrowers that result from the loss reserve.

(f) No later than January 15th of each year:

(1) The FPE must provide a report to the Authority on any material changes to information or certifications provided in the initial application to participate or indicating that all statements made in the application remain materially unchanged.

(2) FPEs that are not Financial Institutions must also provide written evidence of current licenses and insurance.

(g) The FPE must report to the Authority when the FPE:

(1) Becomes subject to a cease and desist order or other regulatory sanction from an appropriate federal or state regulatory body. The FPE must inform the Authority in writing within 10 business days of that action; or

(2) Recovers any proceeds of a charged-off Enrolled Financing Agreement. The report must be submitted within 180 calendar days and include gross amounts recovered through collection activities and the net amount remitted by the Loss Reserve Account.

Cal. Code Regs. Tit. 4, § 10092.12

1. New section filed 12-17-2018 as a deemed emergency pursuant to Public Resources Code section 26009; operative 12-17-2018 (Register 2018, No. 51). A Certificate of Compliance must be transmitted to OAL by 6-17-2019 or emergency language will be repealed by operation of law on the following day.
2. Change without regulatory effect amending section filed 4-4-2019 pursuant to section 100, title 1, California Code of Regulations (Register 2019, No. 14).
3. New section refiled 6-11-2019 as a deemed emergency pursuant to Public Resources Code section 26009, including amendment of NOTE; operative 6-18-2019 (Register 2019, No. 24). A Certificate of Compliance must be transmitted to OAL by 9-16-2019 or emergency language will be repealed by operation of law on the following day.
4. New section refiled 9-12-2019 as a deemed emergency pursuant to Public Resources Code section 26009; operative 9-16-2019 pursuant to Government Code section 11343.4(b)(2) (Register 2019, No. 37). A Certificate of Compliance must be transmitted to OAL by 12-16-2019 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 9-12-2019 order, including amendment of subsection (b)(6), transmitted to OAL 12-13-2019 and filed 1-21-2020; amendments operative 1-21-2020 pursuant to Government Code section 11343.4(b)(3) (Register 2020, No. 4).
6. Amendment of section and NOTE filed 7-19-2021 as an emergency; operative 7-19-2021 (Register 2021, No. 30). A Certificate of Compliance must be transmitted to OAL by 1-18-2022 or emergency language will be repealed by operation of law on the following day.
7. Amendment of section and NOTE refiled 12-30-2021 as a deemed emergency pursuant to Public Resources Code section 26009; operative 1-18-2022 (Register 2021, No. 53). A Certificate of Compliance must be transmitted to OAL by 4-18-2022 or emergency language will be repealed by operation of law on the following day.
8. Amendment of section and NOTE refiled as a deemed emergency pursuant to Public Resources Code section 26009; operative 4-18-2022 (Register 2022, No. 15). A Certificate of Compliance must be transmitted to OAL by 7-18-2022 or emergency language shall be repealed by operation of law on the following day.
9. Certificate of Compliance as to 4-18-2022 order transmitted to OAL 7-12-2022 and filed 8-15-2022 (Register 2022, No. 33).

Note: Authority cited: Sections 26006 and 26009, Public Resources Code. Reference: Sections 26002, 26002.5, 26003, 26006, 26011 and 26040, Public Resources Code.

1. New section filed 12-17-2018 as a deemed emergency pursuant to Public Resources Code section 26009; operative 12/17/2018 (Register 2018, No. 51). A Certificate of Compliance must be transmitted to OAL by 6-17-2019 or emergency language will be repealed by operation of law on the following day.
2. Change without regulatory effect amending section filed 4-4-2019 pursuant to section 100, title 1, California Code of Regulations (Register 2019, No. 14).
3. New section refiled 6-11-2019 as a deemed emergency pursuant to Public Resources Code section 26009, including amendment of Note; operative 6/18/2019 (Register 2019, No. 24). A Certificate of Compliance must be transmitted to OAL by 9-16-2019 or emergency language will be repealed by operation of law on the following day.
4. New section refiled 9-12-2019 as a deemed emergency pursuant to Public Resources Code section 26009; operative 9/16/2019 pursuant to Government Code section 11343.4(b)(2) (Register 2019, No. 37). A Certificate of Compliance must be transmitted to OAL by 12-16-2019 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 9-12-2019 order, including amendment of subsection (b)(6), transmitted to OAL 12-13-2019 and filed 1-21-2020; amendments operative 1/21/2020 pursuant to Government Code section 11343.4(b)(3) (Register 2020, No. 4).
6. Amendment of section and Note filed 7-19-2021 as an emergency; operative 7/19/2021 (Register 2021, No. 30). A Certificate of Compliance must be transmitted to OAL by 1-18-2022 or emergency language will be repealed by operation of law on the following day.
7. Amendment of section and Note refiled 12-30-2021 as a deemed emergency pursuant to Public Resources Code section 26009; operative 1/18/2022 (Register 2021, No. 53). A Certificate of Compliance must be transmitted to OAL by 4-18-2022 or emergency language will be repealed by operation of law on the following day.
8. Amendment of section and Note refiled as a deemed emergency pursuant to Public Resources Code section 26009; operative 4/18/2022 (Register 2022, No. 15). A Certificate of Compliance must be transmitted to OAL by 7-18-2022 or emergency language shall be repealed by operation of law on the following day.
9. Certificate of Compliance as to 4-18-2022 order transmitted to OAL 7-5-2022 and filed 8/15/2022 (Register 2022, No. 33).