News & Analysis as of

California › Consent Order › Department of Financial Protection and Innovation (DFPI)

Troutman Pepper Locke

California’s DFPI Brings First Enforcement Action Under California’s Digital Financial Assets Law

Troutman Pepper Locke on

On June 25, the California Department of Financial Protection and Innovation (DFPI) entered a consent order with Coinme, Inc., a cryptocurrency “ATM” operator, for noncompliance with the California’s Consumer Financial...more

Orrick, Herrington & Sutcliffe LLP

DFPI settles with crypto kiosk operator for $350K+

Orrick, Herrington & Sutcliffe LLP on

On June 25, the California DFPI announced it had entered into a consent order with a crypto kiosk operator for violations of the Digital Financial Assets Law (DFAL). Under the consent order, the operator agreed to pay a...more

Orrick, Herrington & Sutcliffe LLP

California DFPI mandates cybersecurity overhaul in credit union consent order

Orrick, Herrington & Sutcliffe LLP on

On February 4, the California DFPI announced a consent order issued against a credit union (respondent) following a significant cybersecurity breach. This breach, a ransomware attack, allegedly led to the shutdown of various...more

Alston & Bird

A Friendly Reminder of the Importance of Robust Consumer Complaint Handling Processes

Alston & Bird on

What Happened? On February 27, 2024, the California Department of Financial Protection and Innovation (the Department) entered into a public consent order with a company that provides consumer financial services to...more

Orrick, Herrington & Sutcliffe LLP

Fintech fined over interest charges billed as tips and donations

Orrick, Herrington & Sutcliffe LLP on

A California-based fintech company recently entered separate consent orders with California, Connecticut, and the District of Columbia to resolve allegations claiming it disguised interest charges as tips and donations...more

Ballard Spahr LLP

Fintech settles allegations that payment of tips and donations was a hidden interest charge

Ballard Spahr LLP on

A fintech peer-to-peer lender has entered into separate consent orders with California, Washington D.C., and Connecticut relating to its practice of requesting tips and donations in connection with the loans offered through...more

Shipkevich PLLC

California’s DFPI Cracks Down on Student Debt Relief Scams

Shipkevich PLLC on

Recent Consent Order Issued by the DFPI Against Student Loan Relief Company - On February 28, 2023, the California Department of Financial Protection and Innovation (DFPI) announced that it has entered into a Consent Order...more

Sheppard Mullin Richter & Hampton LLP

DFPI Issues Consent Order to Auto Title Lender

Sheppard Mullin Richter & Hampton LLP on

On December 14, the California Department of Financial Protection and Innovation (DFPI) announced that it entered into a consent order with an LA-based auto title lender to resolve allegations that the company violated...more

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