If the Department of Finance issues an order to a lender to stop making loans without a hearing, what is required next?

The correct answer indicates that when the Department of Finance issues an order to a lender to cease making loans, they are obligated to hold a hearing within a specified timeframe if the lender requests it. This ensures due process for the lender, allowing them the opportunity to contest the order and present their case.

Holding a hearing within 30 days affirms the commitment to fair legal procedures. The premise of this requirement is based on the principle that any administrative action, such as restricting a lender's ability to operate, must allow for an opportunity to be heard, thus protecting the rights of the lender.

The other options fail to align with the requirement for due process. Immediate compliance without the opportunity for recourse overlooks the rights of the lender, while stating that hearings are optional undermines the procedural safeguards that are in place. Similarly, suggesting that a waiting period of 60 days before a hearing is inconsistent with providing timely access to a fair hearing as mandated by regulations.