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California › Penalties › Consumer Protection Laws

Orrick, Herrington & Sutcliffe LLP

California and other state regulators fine money transmitter $4.2M for BSA/AML violations

Orrick, Herrington & Sutcliffe LLP on

On July 9, the California DFPI, alone and joining five other state financial regulatory agencies, announced a multistate enforcement action resulting in a $4.2 million penalty against a licensed money transmitter for alleged...more

Sheppard Mullin Richter & Hampton LLP

DFPI Finalizes $300,000 Settlement with Crypto Kiosk Operator for Alleged Digital Asset Law Violations

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On June 25, the California DFPI announced that it had finalized a consent order with a cryptocurrency kiosk operator, alleging violations of the Digital Financial Assets Law (DFAL) and the California Consumer Financial...more

Orrick, Herrington & Sutcliffe LLP

Navigating Federal and California Negative Option Rules: Key Insights for Businesses

Orrick, Herrington & Sutcliffe LLP on

As regulatory scrutiny around automatic renewals intensifies, understanding the Federal Trade Commission’s new “Click-to-Cancel” rule and California’s recently amended Automatic Renewal Law, is essential for companies looking...more

Sheppard Mullin Richter & Hampton LLP

CFPB Moves Forward with Debt Relief Suit Over $3.4M in Alleged Advance Fees

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On June 10, the CFPB moved to reopen its 2021 enforcement action against the final remaining defendant in a student debt relief case involving over $3.4 million in alleged illegal advance fees. The Bureau, under Acting...more

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