§ 18245 Credit Card Issuance Rules

Financial Code·California

AI SummaryVerified

Key Takeaways

•Banks that give out loans can also give out credit cards.
•These banks can buy or keep the money people owe from using those credit cards.
•The rules for credit cards might be different from the rules for other loans.

Example

You get a credit card from a bank that also gives out loans.

The bank can let you use the credit card and keep track of what you owe. The rules for this credit card might not be the same as the rules for a car loan or house loan from the same bank.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 18245 Credit Card Issuance Rules

(a) Subject to any regulations that the commissioner may issue, an industrial loan company may issue credit cards and may acquire or hold obligations resulting from the use of credit cards. (b) Except as the commissioner may otherwise provide by regulation or order, the acquiring and holding of obligations pursuant to subdivision (a) are not subject to Article 2 (commencing with Section 18205) or Article 6.5 (commencing with Section 18300). (Added by Stats. 1998, Ch. 827, Sec. 11. Effective January 1, 1999.)

Last verified: January 23, 2026

Key Terms

industrial loan company credit cards obligations commissioner Article 2 Article 6.5

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 18245.

Key Takeaways

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Key Takeaways

Example

Key Terms

Related Statutes

References