(a) The bureau’s administration of this article or Article 13 (commencing with Section 94919) shall not preclude the authority of the Department of Financial Protection and Innovation over, and application of the California Consumer Financial Protection Law to, any “covered persons” as defined by subdivision (f) of § 90005 of the Financial Code, including, but not limited to, private postsecondary educational institutions.

(b) Nothing in this chapter shall constitute regulation of an institution’s financial product or service pursuant to subparagraph (B) of paragraph (2) of subdivision (a) of § 90009 of the Financial Code, or shall otherwise be construed to limit the Department of Financial Protection and Innovation’s jurisdiction with respect to an institution’s financial product or service.

Terms Used In California Education Code 94918.5

  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.

(c) An institution subject to this chapter shall not be considered “acting under the authority” of its status with the bureau pursuant to subdivision (a) of § 90002 of the Financial Code when offering financial products or services.

(Added by Stats. 2022, Ch. 544, Sec. 12. (SB 1433) Effective January 1, 2023. Repealed as of January 1, 2027, pursuant to Section 94950.)

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