§ 22300 Loan Interest Charging Rules

• •You can't charge interest or fees unless you actually give out a loan.
• •If you don't lend the money, you can't ask for any extra money back.
• •This rule applies to anyone with a lending license.

A bank tells you they'll give you a loan but then never gives you the money.

The bank can't charge you interest or fees because they didn't actually lend you anything.