California Financial Code 50505 – Any person who violates any provision of any of the following federal …
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Any person who violates any provision of any of the following federal acts or regulations violates this division:
(a) The federal Real Estate Settlement Procedures Act, as amended (12 U.S.C. § 2601 et seq.).
Terms Used In California Financial Code 50505
- Person: includes any person, firm, partnership, association, corporation, company, limited liability company, syndicate, estate, trust, business trust, or organization of any kind. See California Financial Code 18
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
(b) The federal Truth in Lending Act, as amended (15 U.S.C. § 1601 et seq.).
(c) The federal Home Ownership Equity Protection Act (15 U.S.C. § 1639).
(d) Any regulation promulgated under any of the federal acts in subdivision (a), (b), or (c).
(Amended by Stats. 2009, Ch. 629, Sec. 7. (AB 260) Effective January 1, 2010.)