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California › Regulatory Agenda › Department of Financial Protection and Innovation (DFPI)

Sheppard Mullin Richter & Hampton LLP

California DFPI Proposes Digital Asset Licensing Rule

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On April 4, the California Department of Financial Protection and Innovation (DFPI) issued proposed regulations under the Digital Financial Assets Law (DFAL). The proposal provides clarification on DFAL’s licensing framework...more

Sheppard Mullin Richter & Hampton LLP

DFPI Finalizes Debt Collection Licensing Regulations, Effective July 1

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On March 4, the California DFPI finalized regulations under the Debt Collection Licensing Act (DCLA). The final regulations, which take effect July 1, 2025, clarify key licensing and reporting requirements....more

Sheppard Mullin Richter & Hampton LLP

California Governor Appoints New DFPI Commissioner

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On February 7, California Governor Gavin Newsom announced the appointment of Khalil “KC” Mohseni as the new Commissioner of the California Department of Financial Protection and Innovation (DFPI). Mohseni has been serving as...more

Ballard Spahr LLP

California’s DFPI seeks comments on additional products and services to be registered under the CCFPL

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In the wake of the Office of Administrative Law’s approval of its registration and reporting requirements for providers of income-based advances, private postsecondary education financing, debt settlement services, and...more

Shipkevich PLLC

California DFPI Seeks Greater Oversight Over Additional Consumer Financial Services: Seeks Comments on Who Should Be Regulated...

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The ink is barely dry on the California Department of Financial Protection and Innovation’s (“DFPI” or the “Department”) newly approved regulation package PRO 01-21, and DFPI has already begun to take steps to implement...more

Troutman Pepper Locke

California DFPI’s Proposed EWA Legislation Rejected by Office of Administrative Law

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As discussed here, in March 2023, the California Department of Financial Protection and Innovation (DFPI) proposed new regulations under the California Financing Law that would interpret the definition of “loan” to include...more

Jenner & Block

Client Alert: California Enters the Arena of Virtual Currency Regulation

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After prolonged deliberation, California has finally decided to enter the virtual currency regulatory arena by adopting two virtual currency regulatory bills into law. The California Digital Financial Assets Law (“DFAL”),...more

Ballard Spahr LLP

California Reconsidering the “Digital Financial Assets Law”

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As readers may recall, California previously attempted to enact a “Digital Financial Assets Law” with the introduction of AB 2269 in February 2022. In relevant part, AB 2269 proposed (1) a stringent licensing requirement for...more

Sheppard Mullin Richter & Hampton LLP

California Regulator Seeks Comment on Future Crypto Guidance

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On June 1, the California DFPI began formally seeking input from the public to assist in developing guidance and regulatory clarity for Blockchain and Crypto companies as directed by Governor Newsom’s Executive Order (which...more

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