Cal. Code Regs. Tit. 10, § 1045 - Annual Reporting - Income-Based Advances
If the registrant offers or provides income-based advances under its registration, the registrant's annual report shall include the following information relating to the income-based advances provided to California residents in the prior calendar year. Multiple income-based advances with the same scheduled collection date are separate income-based advances and registrants shall report each one separately for the purposes of reporting the following information:
(a) The total
dollar amount of charges paid by obligors.
(b) The number of California residents who
did not receive at least one income-based advance, but who paid a subscription
fee to the registrant, and the total dollar amount of subscription fees paid by
those California residents.
(c) The
number of California residents who received at least one income-based advance
in the prior calendar year, and, with respect to all the advances made to those
California residents:
(1) The total dollar
amount and the total number of income-based advances made, and the total dollar
amount of subscription fees, gratuities, expedited funds fees, and account
transfer fees paid (each reported separately), and all other charges
paid.
(2) The average length of
time between when each income-based advance was made and each advance's
collection date.
(3) The average
length of time between when income-based advances were made and when the
amounts due associated with the advances were fully repaid, excluding
income-based advances that have not been fully repaid. For the purposes of
crediting collections from a resident on a particular collection date where a
registrant has made multiple outstanding income-based advances to that
consumer, a registrant shall credit collections to the oldest advances
first.
(4) For all
non-obligor-based advances, the number of times that the dollar amount
collected on a collection date was less than the total dollar amount due in
connection with past unpaid advances made to that resident and, for these
advances, the number of times the registrant collected nothing on the
collection date, the total dollar amount due and total dollar amount collected
on the original collection dates, the number of times the registrant attempted
to collect from the resident's bank account on the collection date, the number
of times the registrant made additional attempts to collect from the resident's
bank account after the collection date, and the total dollar amount collected
after the collection date.
(5) For
all obligor-based advances, the number of times that the dollar amount
collected on a collection date from the resident's obligor was less than the
total dollar amount due in connection with past unpaid advances made to that
resident and, for these advances, the number of times the registrant collected
nothing on the collection date, the total dollar amount due and total dollar
amount collected on the original collection dates, the number of times the
registrant attempted to collect from the resident's bank account on the
collection date, the number of times the registrant made additional attempts to
collect from the resident's bank account after the collection date, and the
total dollar amount collected after the collection date.
(6) For reporting of bank account collections
under paragraphs (4) and (5) of this subdivision, a registrant may report
Automated Clearing House transactions and debit card transactions
separately.
(d) For each
month and each quarter of the prior calendar year:
(1) The number of California residents who
received no income-based advances but paid a charge to the registrant during
that month or quarter and the total dollar amount of charges paid by those
residents.
(2) The number of
California residents who received one income-based advance, and the total
dollar amount advanced to and total dollar amount of charges paid by those
California residents.
(3) The
number of California residents who received two income-based advances, and the
total dollar amount advanced to and total dollar amount of charges paid by
those California residents.
(4) The
number of California residents who received three advances, and the total
dollar amount advanced to and total dollar amount of charges paid by those
California residents.
(5) The
number of California residents who received four advances, and the total dollar
amount advanced to and total dollar amount of charges paid by those California
residents.
(6) The number of
California residents who received five advances, and the total dollar amount
advanced to and total dollar amount of charges paid by those California
residents.
(7) The number of
California residents who received six or more advances, and the total number of
advances made, the total dollar amount advanced to and total dollar amount of
charges paid by those California residents.
Notes
Note: Authority cited: Sections 90009 and 90010, Financial Code. Reference: Sections 90003, 90005, 90006, 90009, 90009.5, 90010 and 90018, Financial Code.
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