California Updates Notice Poster for Money Transmission Licensees, Agents

Effective immediately, California has revised the complaint notice that money transmission licensees and agents must post on the premises of each branch office.  Specifically, the new notice replaces the name of the department and its contact information.

Additionally, California has enacted a provision that exempts persons who make no more than one loan in a 12-month period if that loan is a commercial loan as defined in Section 22502 of the Financial Code.