California DBO Announces New Online Portal For Certain Licensees

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On May 19, the California Department of Business Oversight announced it will transition certain license application and maintenance functions to a new online system. Beginning June 18, 2014, companies and individuals seeking licensure under the California Finance Lenders Law, the California Deferred Deposit Transaction Law, and the Escrow Law will visit a new online self-service portal to (i) submit applications for licensure; (ii) view the status of their license application; (iii) submit Annual Report information; and (iv) update contact information. Later this year licensees will be able to pay application, renewal, and qualification fees using this portal.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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