Regulatory Alerts2022-04-12
Idaho Department of Finance Guidance Statement 2022-01-CFB: Indirect Lending
The Idaho Department of Finance issued Guidance Statement 2022-01-CFB to clarify licensure requirements under the Idaho Credit Code for finance companies acting as indirect lenders. The guidance interprets existing law to establish that entities receiving assignments of regulated credit sales are not considered lenders and are therefore exempt from licensing requirements. This exemption applies provided the transaction is genuinely structured as a credit sale rather than a disguised loan between the buyer and a third party.
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