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This license is required of any person that advertises to make or procure, solicits, or holds themselves out as willing to make or procure or makes or procures a loan of $10,000 or less or a revolving loan of not more than $10,000.
This license is required of any person that advertises to make or procure, solicits, or holds themselves out as willing to make or procure or makes or procures a loan of $10,000 or less or a revolving loan of not more than $10,000.
Consumer lending is the category of financing centered on individual and household consumers. It includes home and auto loans, as well as personal loans extended to people who use the funds for individual or family purposes. Consumer Banking.
DIFI is responsible for administering state laws that regulate Financial Institutions, which include banks, credit unions, trust companies, and trust divisions.
What is a Consumer Loan? A consumer loan is a loan given to consumers to finance specific types of expenditures. In other words, a consumer loan is any type of loan made to a consumer by a creditor. The loan can be secured (backed by the assets of the borrower) or unsecured (not backed by the assets of the borrower).