State Codes and Statutes

Statutes > California > Fin > 550-551

FINANCIAL CODE
SECTION 550-551



550.  (a) Notwithstanding the provisions of Sections 1051, 1052, and
1054 of the Labor Code and Section 2947 of the Penal Code, a bank or
any affiliate thereof, licensed under the laws of any state or of
the United States, or any officer or employee thereof, may deliver
fingerprints taken of a director, an officer, an employee, or an
applicant for employment to local, state, or federal law enforcement
agencies for the purpose of obtaining information as to the existence
and nature of a criminal record, if any, of the person fingerprinted
relating to convictions, and to any arrest for which that person is
released on bail or on his or her own recognizance pending trial, for
the commission or attempted commission of a crime involving robbery,
burglary, theft, embezzlement, fraud, forgery, bookmaking, receiving
stolen property, counterfeiting, or involving checks or credit cards
or using computers.
   (b) The Department of Justice shall, pursuant to Section 11105 of
the Penal Code, and a local agency may, pursuant to Section 13300 of
the Penal Code, furnish to the officer of the bank or affiliate
responsible for the final decision regarding employment of the person
fingerprinted, or to his or her designees having responsibilities
for personnel or security decisions in the usual scope and course of
their employment with the bank or affiliate, summary criminal history
information when requested pursuant to this section. If, upon
evaluation of the criminal history information received pursuant to
this section, the bank or affiliate determines that employment of the
person fingerprinted would constitute an unreasonable risk to that
bank or affiliate or its customers, the person may be denied
employment.
   (c) Banks and their affiliates shall submit to the Department of
Justice fingerprint images and related information required by the
Department of Justice of all directors, officers, employees, or an
applicant for employment for the purpose of obtaining information
regarding the existence and content of a record of state and federal
convictions and also information regarding the existence and content
of a record of state and federal arrests for which the Department of
Justice establishes that the person is free on bail, or on his or her
own recognizance, pending trial or appeal.
   (d) When the Department of Justice receives a request under this
section for federal summary criminal history information, it shall
forward the request to the Federal Bureau of Investigation. Once the
information is received from the Federal Bureau of Investigation, the
Department of Justice shall review, compile, and disseminate the
information to the federally chartered bank or affiliate pursuant to
paragraph (1) of subdivision (o) of Section 11105 of the Penal Code.
   (e) When the Department of Justice receives a request for federal
summary criminal history information from a nonchartered bank, it
shall forward the request to the Federal Bureau of Investigation.
Once the information is received from the Federal Bureau of
Investigation, the Department of Justice shall review and provide a
fitness determination on an applicant for employment based on
criminal convictions or on arrests for which the person is released
on bail or on his or her own recognizance pending trial for the
commission or attempted commission of crimes specified in subdivision
(a).
   (f) A bank or affiliate may request from the Department of Justice
subsequent arrest notification service, as provided pursuant to
Section 11105.2 of the Penal Code, for persons described in
subdivision (a).
   (g) The Department of Justice shall charge a fee sufficient to
cover the cost of processing the requests described in this section.
   (h) Any criminal history information obtained pursuant to this
section is confidential and no recipient shall disclose its contents
other than for the purpose for which it was acquired.
   (i) "Affiliate," as used in this section, means any corporation
controlling, controlled by, or under common control with, a bank,
whether directly, indirectly, or through one or more intermediaries.



551.  (a) Notwithstanding Section 726 of the Code of Civil Procedure
or any other provision of law to the contrary, a state or nationally
chartered bank, its subsidiaries or affiliates transacting business
in this state, or any successor in interest thereto, that originates,
acquires, or purchases, in whole or in part, any loan secured
directly or collaterally, in whole or in part, by a mortgage or deed
of trust on real property, or any interest therein, may bring an
action for recovery of damages, including exemplary damages not to
exceed 50 percent of the actual damages, against a borrower where the
action is based on fraud under Section 1572 of the Civil Code and
the fraudulent conduct by the borrower induced the original lender to
make that loan.
   (b) The provisions of this section shall not apply to loans
secured by single-family, owner-occupied residential real property,
when the property is actually occupied by the borrower as represented
to the lender in order to obtain the loan and the loan is for an
amount of one hundred fifty thousand dollars ($150,000) or less, as
adjusted annually, commencing on January 1, 1987, to the Consumer
Price Index as published by the United States Department of Labor.
   (c) Any action maintained under this section for damages shall not
constitute a money judgment for deficiency or a deficiency judgment
within the meaning of Section 580a, 580b, or 580d of the Code of
Civil Procedure.


State Codes and Statutes

Statutes > California > Fin > 550-551

FINANCIAL CODE
SECTION 550-551



550.  (a) Notwithstanding the provisions of Sections 1051, 1052, and
1054 of the Labor Code and Section 2947 of the Penal Code, a bank or
any affiliate thereof, licensed under the laws of any state or of
the United States, or any officer or employee thereof, may deliver
fingerprints taken of a director, an officer, an employee, or an
applicant for employment to local, state, or federal law enforcement
agencies for the purpose of obtaining information as to the existence
and nature of a criminal record, if any, of the person fingerprinted
relating to convictions, and to any arrest for which that person is
released on bail or on his or her own recognizance pending trial, for
the commission or attempted commission of a crime involving robbery,
burglary, theft, embezzlement, fraud, forgery, bookmaking, receiving
stolen property, counterfeiting, or involving checks or credit cards
or using computers.
   (b) The Department of Justice shall, pursuant to Section 11105 of
the Penal Code, and a local agency may, pursuant to Section 13300 of
the Penal Code, furnish to the officer of the bank or affiliate
responsible for the final decision regarding employment of the person
fingerprinted, or to his or her designees having responsibilities
for personnel or security decisions in the usual scope and course of
their employment with the bank or affiliate, summary criminal history
information when requested pursuant to this section. If, upon
evaluation of the criminal history information received pursuant to
this section, the bank or affiliate determines that employment of the
person fingerprinted would constitute an unreasonable risk to that
bank or affiliate or its customers, the person may be denied
employment.
   (c) Banks and their affiliates shall submit to the Department of
Justice fingerprint images and related information required by the
Department of Justice of all directors, officers, employees, or an
applicant for employment for the purpose of obtaining information
regarding the existence and content of a record of state and federal
convictions and also information regarding the existence and content
of a record of state and federal arrests for which the Department of
Justice establishes that the person is free on bail, or on his or her
own recognizance, pending trial or appeal.
   (d) When the Department of Justice receives a request under this
section for federal summary criminal history information, it shall
forward the request to the Federal Bureau of Investigation. Once the
information is received from the Federal Bureau of Investigation, the
Department of Justice shall review, compile, and disseminate the
information to the federally chartered bank or affiliate pursuant to
paragraph (1) of subdivision (o) of Section 11105 of the Penal Code.
   (e) When the Department of Justice receives a request for federal
summary criminal history information from a nonchartered bank, it
shall forward the request to the Federal Bureau of Investigation.
Once the information is received from the Federal Bureau of
Investigation, the Department of Justice shall review and provide a
fitness determination on an applicant for employment based on
criminal convictions or on arrests for which the person is released
on bail or on his or her own recognizance pending trial for the
commission or attempted commission of crimes specified in subdivision
(a).
   (f) A bank or affiliate may request from the Department of Justice
subsequent arrest notification service, as provided pursuant to
Section 11105.2 of the Penal Code, for persons described in
subdivision (a).
   (g) The Department of Justice shall charge a fee sufficient to
cover the cost of processing the requests described in this section.
   (h) Any criminal history information obtained pursuant to this
section is confidential and no recipient shall disclose its contents
other than for the purpose for which it was acquired.
   (i) "Affiliate," as used in this section, means any corporation
controlling, controlled by, or under common control with, a bank,
whether directly, indirectly, or through one or more intermediaries.



551.  (a) Notwithstanding Section 726 of the Code of Civil Procedure
or any other provision of law to the contrary, a state or nationally
chartered bank, its subsidiaries or affiliates transacting business
in this state, or any successor in interest thereto, that originates,
acquires, or purchases, in whole or in part, any loan secured
directly or collaterally, in whole or in part, by a mortgage or deed
of trust on real property, or any interest therein, may bring an
action for recovery of damages, including exemplary damages not to
exceed 50 percent of the actual damages, against a borrower where the
action is based on fraud under Section 1572 of the Civil Code and
the fraudulent conduct by the borrower induced the original lender to
make that loan.
   (b) The provisions of this section shall not apply to loans
secured by single-family, owner-occupied residential real property,
when the property is actually occupied by the borrower as represented
to the lender in order to obtain the loan and the loan is for an
amount of one hundred fifty thousand dollars ($150,000) or less, as
adjusted annually, commencing on January 1, 1987, to the Consumer
Price Index as published by the United States Department of Labor.
   (c) Any action maintained under this section for damages shall not
constitute a money judgment for deficiency or a deficiency judgment
within the meaning of Section 580a, 580b, or 580d of the Code of
Civil Procedure.



State Codes and Statutes

State Codes and Statutes

Statutes > California > Fin > 550-551

FINANCIAL CODE
SECTION 550-551



550.  (a) Notwithstanding the provisions of Sections 1051, 1052, and
1054 of the Labor Code and Section 2947 of the Penal Code, a bank or
any affiliate thereof, licensed under the laws of any state or of
the United States, or any officer or employee thereof, may deliver
fingerprints taken of a director, an officer, an employee, or an
applicant for employment to local, state, or federal law enforcement
agencies for the purpose of obtaining information as to the existence
and nature of a criminal record, if any, of the person fingerprinted
relating to convictions, and to any arrest for which that person is
released on bail or on his or her own recognizance pending trial, for
the commission or attempted commission of a crime involving robbery,
burglary, theft, embezzlement, fraud, forgery, bookmaking, receiving
stolen property, counterfeiting, or involving checks or credit cards
or using computers.
   (b) The Department of Justice shall, pursuant to Section 11105 of
the Penal Code, and a local agency may, pursuant to Section 13300 of
the Penal Code, furnish to the officer of the bank or affiliate
responsible for the final decision regarding employment of the person
fingerprinted, or to his or her designees having responsibilities
for personnel or security decisions in the usual scope and course of
their employment with the bank or affiliate, summary criminal history
information when requested pursuant to this section. If, upon
evaluation of the criminal history information received pursuant to
this section, the bank or affiliate determines that employment of the
person fingerprinted would constitute an unreasonable risk to that
bank or affiliate or its customers, the person may be denied
employment.
   (c) Banks and their affiliates shall submit to the Department of
Justice fingerprint images and related information required by the
Department of Justice of all directors, officers, employees, or an
applicant for employment for the purpose of obtaining information
regarding the existence and content of a record of state and federal
convictions and also information regarding the existence and content
of a record of state and federal arrests for which the Department of
Justice establishes that the person is free on bail, or on his or her
own recognizance, pending trial or appeal.
   (d) When the Department of Justice receives a request under this
section for federal summary criminal history information, it shall
forward the request to the Federal Bureau of Investigation. Once the
information is received from the Federal Bureau of Investigation, the
Department of Justice shall review, compile, and disseminate the
information to the federally chartered bank or affiliate pursuant to
paragraph (1) of subdivision (o) of Section 11105 of the Penal Code.
   (e) When the Department of Justice receives a request for federal
summary criminal history information from a nonchartered bank, it
shall forward the request to the Federal Bureau of Investigation.
Once the information is received from the Federal Bureau of
Investigation, the Department of Justice shall review and provide a
fitness determination on an applicant for employment based on
criminal convictions or on arrests for which the person is released
on bail or on his or her own recognizance pending trial for the
commission or attempted commission of crimes specified in subdivision
(a).
   (f) A bank or affiliate may request from the Department of Justice
subsequent arrest notification service, as provided pursuant to
Section 11105.2 of the Penal Code, for persons described in
subdivision (a).
   (g) The Department of Justice shall charge a fee sufficient to
cover the cost of processing the requests described in this section.
   (h) Any criminal history information obtained pursuant to this
section is confidential and no recipient shall disclose its contents
other than for the purpose for which it was acquired.
   (i) "Affiliate," as used in this section, means any corporation
controlling, controlled by, or under common control with, a bank,
whether directly, indirectly, or through one or more intermediaries.



551.  (a) Notwithstanding Section 726 of the Code of Civil Procedure
or any other provision of law to the contrary, a state or nationally
chartered bank, its subsidiaries or affiliates transacting business
in this state, or any successor in interest thereto, that originates,
acquires, or purchases, in whole or in part, any loan secured
directly or collaterally, in whole or in part, by a mortgage or deed
of trust on real property, or any interest therein, may bring an
action for recovery of damages, including exemplary damages not to
exceed 50 percent of the actual damages, against a borrower where the
action is based on fraud under Section 1572 of the Civil Code and
the fraudulent conduct by the borrower induced the original lender to
make that loan.
   (b) The provisions of this section shall not apply to loans
secured by single-family, owner-occupied residential real property,
when the property is actually occupied by the borrower as represented
to the lender in order to obtain the loan and the loan is for an
amount of one hundred fifty thousand dollars ($150,000) or less, as
adjusted annually, commencing on January 1, 1987, to the Consumer
Price Index as published by the United States Department of Labor.
   (c) Any action maintained under this section for damages shall not
constitute a money judgment for deficiency or a deficiency judgment
within the meaning of Section 580a, 580b, or 580d of the Code of
Civil Procedure.


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