Point-of-Sale Finance Series: Understanding the Development and Regulation of Buy Now, Pay Later Products — The Consumer Finance Podcast
Regulatory Rollback: CFPB’s Withdrawal of Informal Guidance Sparks New Litigation Dynamics – The Consumer Finance Podcast
The Road to Regulation: Vehicle Service Contracts Explained — Moving the Metal: The Auto Finance Podcast
Point-of-Sale Finance Series: Unpacking Leases and RTO Models — The Consumer Finance Podcast
The Current State of the Holder Rule: Friend or Foe? — Moving the Metal: The Auto Finance Podcast
Regulatory Rollback: Legal Challenges and Opportunities in Earned-Wage Access — Payments Pros – The Payments Law Podcast
Regulatory Rollback: Legal Challenges and Opportunities in Earned-Wage Access — The Consumer Finance Podcast
Balch’s Consumer Finance Compass: How Standing Can Make or Break Certification for Class Action Lawsuits in Debt Collection
From Banks to FinTech: The Evolution of Small Business Lending — The Consumer Finance Podcast
Point-of-Sale Finance Series: Banking on Lending Models — The Consumer Finance Podcast
Point-of-Sale Finance Series: The Great Debate of Loans vs. Credit Sales — The Consumer Finance Podcast
Explore the Impact of Point-of-Sale Finance in Our Upcoming Series — The Consumer Finance Podcast
Welcoming a New Payment Pro: Jason Cover Joins the Payments Pros Podcast — Payments Pros – The Payments Law Podcast
Shifting Gears: Adapting to Regulatory Changes in Auto Finance — Moving the Metal: The Auto Finance Podcast
Unlocking the Secrets of Reverse Mortgages — The Consumer Finance Podcast
The FinReg Frontier: AI and Machine Learning in Consumer Finance — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: How to Use the Restatement of Consumer Contracts - A Guide for Judges
Mock Jury Exercises: Enhancing Litigation Strategy in Consumer Financial Services Cases — The Consumer Finance Podcast
Navigating 2025: Regulatory Shift to the States and the FTC in the Digital Asset Landscape — The Consumer Finance Podcast
Requiem for the Rules: The Rise and Fall of the Junk Fee and CARS Rules — Moving the Metal: The Auto Finance Podcast
An initiative designed to add significant regulatory obligations to the home improvement and solar financing industries is progressing through the California legislature. Senate Bill 784 (SB 784) passed the California Senate...more
In an order issued in January and made public on February 24, a judge in the United States District Court for the Northern District of California granted class certification to consumers alleging a fintech lender’s loan...more
A lot has changed since George Gerro filed an action seeking a declaration that the California finance lender's license issued to BlockFi Lending LLC was both void and improperly issued: Blockfi has filed for bankruptcy; the...more
California generally requires that persons engaged in the business of making loans be licensed. If not licensed under some other statute (such as the banking, credit union or residential mortgage lending laws), a lender will...more
The California Finance Lenders Law prohibits any "person" from engaging in the business of a "finance lender" without a license, unless otherwise exempt. Cal. Fin. Code § 22100(a). The CFL defines a "finance lender" as...more
While the California Financing Law defines "finance lender", it does so in a very open-ended and nonspecific manner. Cal. Fin. Code § 22009 ("'Finance lender' includes any person who is engaged in the business of making...more
Lenders and brokers licensed under the California Finance Lenders Law must file an annual report by the Ides of March (i.e., March 15) of each year. Cal. Fin. Code § 22159. This is a hard deadline and the Department of...more
Yesterday's post concerned a bill pending in the California legislature that would impose a licensing requirement on persons engaging in "digital financial asset business activity", or holding itself out as being able to...more
Regulation U, 12 CFR § 221.1 – 221.125, imposes certain requirements for lenders, other than securities brokers and dealers, who extend credit secured by margin stock. Regulation U defines "purpose credit" as "any credit for...more
Ladies and Gentlemen, Start Gathering Your Data! If you are a licensee under the California Financing Law, you are required to submit an annual report to the Department of Financial Protection & Innovation no later than...more
The California Financing Law prohibits any person from engaging in the business of a finance lender without first obtaining a license from the Commissioner of Financial Protection & Innovation. Cal. Fin. Code § 22100(a). ...more
California's Department of Financial Protection & Innovation has complied this summary of new laws that affect or may otherwise be of interest to persons licensed by the department. In general, these laws will take effect on...more
Sometimes cases go off in directions that I simply do not expect. In most cases, I would expect to see the plaintiff contend that it was injured in some way. However, that was not the case in Lagrisola v. North Am. Fin....more
Yesterday, Governor Gavin Newsom has announced the appointment of Clothilde “Cloey” Hewlett to serve as California's next Commissioner of the Department of Financial Protection and Innovation. Ms. Hewlett has been serving as...more
Recently, Manuel P. Alvarez announced that June 18 will be his last day as Commissioner of the Department of Financial Protection & Innovation. Until Governor Newsom appoints a successor, Chief Deputy Commissioner Chris...more
Last year, California enacted AB 1864, Cal. Stats. 2020, Ch. 157, creating the California Consumer Financial Protection Law (CCFPL) under Division 24 of the Financial Code. Remarkably, the legislature left it up to the...more
Yesterday, the Department of Financial Protection and Innovation announced that it had issued "subpoenas to a dozen companies with significant California customer bases, representing the first major action to be taken under...more