CA Fin Code Section 22327

No licensee shall knowingly induce any borrower to split up or divide any loan with any other licensee. No licensee shall induce or permit any borrower to be or to become obligated directly or indirectly, or both, under more than one contract of loan at the same time with the same licensee for the purpose or with the result of obtaining a higher rate of charge than would otherwise be permitted by this article, except as otherwise required by the federal Equal Credit Opportunity Act (15 U.S.C. Sec. 1691 et seq.; P.L. 93-495) and Regulation B promulgated by the Board of Governors of the Federal Reserve System (12 C.F.R. 202 et seq.). For the purpose of this section, “borrower” includes any husband and wife, whether jointly or severally obligated.

Source: Section 22327, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=22327..

Last Updated

Aug. 19, 2023

§ 22327’s source at ca.gov

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Location: https://california.public.law/codes/ca_fin_code_section_22327

Original Source: Section 22327, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=22327. (last accessed Aug. 19, 2023).