News & Analysis as of

Consumer Financial Protection Act (CFPA) California

Orrick, Herrington & Sutcliffe LLP

District court grants partial CFPB win in credit reporting case

On May 5, the U.S. District Court for the Central District of California granted in part and denied in part a motion to dismiss filed by the defendant, a consumer reporting agency, in a case brought by the CFPB in January...more

Allen Matkins

Will Your Industry Be On Deck For Registration With The California Department Of Financial Protection & Innovation?

Allen Matkins on

The California Consumer Financial Protection Law (CCFPL) authorizes the Department of Financial Protection & Innovation (DFPI) “regarding registration requirements applicable to a covered person engaged in the business of...more

Allen Matkins

What Exactly Does The Deputy Commissioner For New Covered Persons Oversee?

Allen Matkins on

Since I served as Commissioner of Corporations in the 1990s, the Department of Corporations has consolidated with the Department of Financial Institutions and changed its name twice.  It is now known by the unwieldy name of...more

Sheppard Mullin Richter & Hampton LLP

California AG Warns State-Chartered Banks and Credit Unions on Fees

On February 22, California Attorney General Rob Bonta sent letters to 197 state-charted banks and credit unions warning them that certain fees they charge may constitute “unfair” business practices under California’s Unfair...more

Ballard Spahr LLP

California AG issues warning to state-chartered banks and credit unions on “surprise overdraft” and returned deposit item fees

Ballard Spahr LLP on

On February 22, 2024, California Attorney General Rob Bonta issued letters (the “AG Letter”) to California’s 197 state-chartered banks and credit unions warning that overdraft and returned deposited item fees may violate...more

Ballard Spahr LLP

DFPI releases final California Consumer Financial Protection Law regulations imposing UDAAP prohibitions and reporting...

Ballard Spahr LLP on

On October 1, 2023 the California Department of Financial Protection and Innovation’s (“DFPI”) final regulations impacting those who provide commercial financial products and services will become effective. The regulations...more

Ballard Spahr LLP

CFPB and 11 states file lawsuit against companies engaged in origination and collection of income share agreements

Ballard Spahr LLP on

The Consumer Financial Protection Bureau, the California Department of Financial Protection and Innovation (CA DFPI), and ten state Attorneys General have filed a lawsuit against Prehired, LLC (Prehired) and two related...more

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