Deferred Deposit Transaction License Defense Attorney
The California Department of Business Oversight, or DBO, licenses and regulates Deferred Deposit Transactions throughout the state. A Deferred Deposit Transaction license is technically called a Deferred Deposit Originator license. All Deferred Deposit Transaction licensees must adhere to the Business & Professions Code and regulations enacted by the Department of Business Oversight.
The California Department of Business Oversight can initiate an investigation, issue a Citation or file an Accusation for the following acts:
1) Felony convictions
2) Misdemeanor convictions
3) Violations of the Business & Professions Code
The California Department of Business Oversight uses the “substantial relationship” test to determine whether a criminal conviction will affect one’s ability to practice. Any criminal conviction that is substantially related to the duties, qualifications and functions of a Deferred Deposit Transaction licensee will result in an investigation by the Board and filing of an Accusation.
These violations of the Business & Professions Code can also trigger an Accusation:
1) Excessive insufficient funds fees
2) Excessive interest, or overcharging interest
3) Failure to identify customer addresses in written agreements
4) Failure to maintain records
5) Failure to maintain separate records for non-sufficient funds
Failure to post a surety bond
6) Failure to post notices of charges and fees
7) Failure to provide written notice to customers regarding their negotiated checks
8) Net worth deficiency
9) Unlicensed activity
10) Using collection letters to threaten customers with criminal prosecution and civil lawsuit
Potential consequences of an investigation, citation or Accusation include:
1) Deferred Deposit Transaction license suspension
2) Deferred Deposit Transaction license revocation
3) Deferred Deposit Transaction license probation
4) Criminal charges
5) Administrative fines
Deferred Deposit Transaction owners and operators are often charged with criminal offenses in California:
Many Deferred Deposit Transaction owners and operators are charged with criminal offenses in California. Law enforcement officers throughout the state investigate Deferred Deposit Transactions for Embezzlement, Forgery and Fraud. The California Attorney General’s Office conducts sting operations designed to catch individuals violating the law.
If you possess a California Deferred Deposit Transaction license and are facing an investigation or Accusation, contact the Law Offices of Seth Weinstein at (310) 707-7131.
We assist California Deferred Deposit Transaction in applying for and defending California Deferred Deposit Transaction licenses in Alameda, Bakersfield, Beverly Hills, Chico, Concord, Contra Costa County, Cupertino, Davis, El Centro, Escondido, Eureka, Fontana, Fremont, Fresno, Hanford, Hayward, Hemet, Hollywood, Humboldt County, Imperial County, Indio, Kern County, Lancaster, Long Beach, Los Angeles, Madera, Marin County, Mendocino, Merced, Modesto, Monterey, Mountain View, Murrieta, Napa, Oakland, Oceanside, Ontario, Orange County, Oxnard, Palm Springs, Palmdale, Palo Alto, Paso Robles, Perris, Placerville, Rancho Cucamonga, Redding, Richmond, Riverside, Roseville, Sacramento, Salinas, San Bernardino, San Diego, San Francisco, San Joaquin County, San Jose, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara County, Santa Clarita, Santa Cruz, Santa Maria, Santa Monica, Santa Rosa, Simi Valley, Stockton, Sunnyvale, Temecula, Thousand Oaks, Tracy, Truckee, Tulare, Turlock, Vacaville, Vallejo, Ventura County, Victorville, Visalia, Vista, Walnut Creek, West Hollywood, and Yuba City.