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Department of Financial Protection and Innovation (DFPI) California Enforcement

Paul Hastings LLP

The California Financing Law — Commercial and Consumer Lenders Beware

Paul Hastings LLP on

Lenders or loan brokers based in California or lending to either commercial or consumer borrowers based in California are subject to the California Financing Law (CFL), which imposes licensing requirements on both lenders or...more

Foley & Lardner LLP

New Requirements for Franchise Brokers in California

Foley & Lardner LLP on

On September 24, 2024, Governor Gavin Newsom signed Senate Bill 919 (“SB 919”), amending California’s Franchise Investment Law (“FIL”) to regulate franchise brokers and franchise sales organizations. The law will take effect...more

Sheppard Mullin Richter & Hampton LLP

Crypto Platform Settles SEC and State Regulator Charges over Interest Bearing Feature on Customer Accounts

On February 7, a Florida-based cryptocurrency company agreed to settle charges brought by the SEC and the California Department of Financial Protection and Innovation alleging that, an interest-earning feature offered on the...more

Foley & Lardner LLP

The SEC and State Regulators Target Crypto Lending in Nexo Settlement

Foley & Lardner LLP on

On January 26, 2022, the California Department of Financial Protection and Innovation (DFPI) announced its participation in a $22.5 million multi-state settlement with Nexo Capital Inc. (Nexo) relating to unregistered...more

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