California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 15 - Student Loan Servicing Act › Article 2 - Application for Licensure and Related Forms › Section 2036 - Notices Included with Applications

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The following notices required by state and federal law are
					 hereby provided for those completing an application for a student loan servicer
					 license under these rules:
NOTICES REQUIRED UNDER STATE AND FEDERAL LAW
INFORMATION PRACTICES ACT OF 1977 (California Civil Code
					 Section
					 1798.17)
(a) The Department of Financial Protection
				  and Innovation of the State of California is requesting the information
				  specified in the application for licensure of student loan servicers.
(b) The Deputy Commissioner for
				  Administration, the Department of Financial Protection and Innovation, is
				  responsible for the system of records and shall, upon request, inform
				  individuals regarding the location of the Department of Financial Protection
				  and Innovation's records and the categories of persons who use the information
				  in the records.
(c) The records are
				  maintained pursuant to the Student Loan Servicing Act (Financial Code Section
				  28100, et
				  seq.).
(d) The submission of all
				  items of information is mandatory. The Department of Financial Protection and
				  Innovation is required to collect from all applicants social security numbers
				  under Family Code Section
				  17520, and
				  social security numbers or federal taxpayer identification numbers under
				  Business and Professions Code Section
				  494.5.
(e) Failure to provide all or any part of the
				  information requested may preclude the Department of Financial Protection and
				  Innovation from approving the application.
(f) The principal purposes within the
				  Department of Financial Protection and Innovation for which the information is
				  to be used are to determine whether (1) a license, registration, or other
				  authority, as allowed under the law, should be accepted, granted, approved,
				  denied, revoked or limited in any way; (2) business entities or individuals
				  licensed or otherwise regulated by the Department of Financial Protection and
				  Innovation are conducting themselves in accordance with applicable laws; and/or
				  (3) laws administered by the Department of Financial Protection and Innovation
				  are being or have been violated and whether administrative action, civil
				  action, or referral to appropriate federal, state or local law enforcement or
				  regulatory agencies, as authorized by law, is appropriate.
(g) Any known or foreseeable disclosures of
				  the information pursuant to subdivision (e) or (f) of Civil Code Section
				  1798.24 may
				  include transfers to other federal, state, or local law enforcement and
				  regulatory agencies, including NMLS as a channeling agent to, from, or on
				  behalf of those federal, state, and local law enforcement and regulatory
				  agencies, as authorized by law.
(h)
				  Subject to certain exceptions or exemptions, the Information Practices Act
				  grants an individual a right of access to personal information concerning the
				  requesting individual that is maintained by the Department of Financial
				  Protection and Innovation.
FEDERAL PRIVACY ACT OF 1974 (Public Law
					 93-579)
(i) In accordance with Section
				  7 of the Privacy Act of 1974
				  (found at 5 U.S.C. §
											552a note (Disclosure of Social Security
				  Number)), the following is information on whether the disclosure of a social
				  security account number is voluntary or mandatory, by what statutory or other
				  authority such number is solicited, and what uses will be made of it.
(1) The Department of Financial Protection
				  and Innovation is required to collect from all applicants social security
				  numbers under Family Code Section
				  17520, and
				  social security numbers or federal taxpayer identification numbers under
				  Business and Professions Code Section
				  494.5.
(2) A social security account number or
				  federal taxpayer identification number is solicited pursuant to one or more of
				  the following authorities: these rules, and Sections
				  28106,
				  28108 and
				  28116 of
				  the Financial Code; Section
				  17520 of the
				  Family Code; and Section
				  494.5
				  of the Business and Professions Code.
(3) For all persons disclosing a social
				  security account number or federal taxpayer identification number, the number
				  is used to match the information to the names on the list provided by the
				  Department of Child Support Services under Family Code Section
				  17520, and the
				  lists of tax delinquencies provided by the State Department of Tax and Fee
				  Administration, and the Franchise Tax Board, under Business and Professions
				  Code Section
				  494.5.
				  The social security number may be used, in addition to other information
				  provided, to conduct a background investigation of the individual by the
				  Department of Justice's Identification and Information Branch or by other
				  federal, state or local law enforcement agencies, as authorized by law. The
				  social security number may also be used to respond to requests for this number
				  made by child support agencies.
NOTICE REGARDING TAXPAYER
					 INFORMATION