California Financial Code

§ 4973

FIN § 4973 Effective Jan 1, 2025Div. 1.7 · Ch. 2

The following are prohibited acts and limitations for covered loans:

(a)(1) A covered loan shall not include a prepayment fee or penalty after the first 36 months after the date of consummation of the loan.

(2)A covered loan may include a prepayment fee or penalty up to the first 36 months after the date of consummation of the loan if:

…

Legislative history

Amended by Stats. 2024, Ch. 517, Sec. 1. (AB 3108) Effective January 1, 2025.