California Deferred Deposit Transaction Law (CDDTL) Annual Report and Survey Coming Soon

The DBO is preparing to provide payday loan licensees notifications for their annual report and the third Annual California Deferred Deposit Transaction Law (CDDTL) Survey. Every lender licensed as of Dec. 31, 2014 shall file the Annual Report and complete the CDDTL Survey even if they conducted no business in 2014. Both reports will be due on March 15, 2015. These reports are required by Financial Code Section 23026 and 23015. The purpose of the Annual Report and Survey is for the DBO to gather data on transaction activities of licensees to assess the fiscal health and compliance practices of California’s payday lender industry. Responses by the licensees to the Annual Report and Survey will be consolidated into Summary Reports and will be available sometime after June 2015.