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The DBO is seeking
comments on proposed changes to regulations under the California Deferred Deposit Transaction Law (CDDTL). The proposed regulations would clarify the DBOs definition of "personal check" under the CDDTL and authorize the Commissioner to establish a common database to allow real-time tracking of deferred deposit transactions.
The DBO is requesting comments prior to initiating a formal rulemaking action with the Office of Administrative Law. The Invitation for Comments notice and text of the draft regulations are available at this link: http://www.dbo.ca.gov/Licensees/Payday_Lenders/Regulations.asp. The deadline to submit comments is May 25, 2015.
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