Consumer Finance Monitor Podcast Episode: California Consumer Finance Law - Hot Topics and Recent Developments
Crypto and Beyond: California DFPI Opinions on Money Transmission and the Money Transmission Act - The Crypto Exchange Podcast
CA DFPI Request for Comment on Cryptocurrency-Related Financial Products and Services - The Consumer Finance Podcast
On April 2, the California Senate Banking and Financial Institutions Committee voted to move forward with legislation that would expand the DFPI’s powers to oversee businesses traditionally governed by the CFPB. The bill, SB...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
Last week the California Department of Financial Protection & Innovation issued a report of its activities under the California Consumer Financial Protection Law. The California legislature enacted the CCFPL in 2020 for the...more
I have devoted several posts to a California commercial loan disclosure law that was enacted in 2018 - SB 1235 (Glazer). Although the bill became effective on January 1, 2019, lenders were not obligated to comply until the...more
The Department of Financial Protection & Innovation's website includes a link to an Excel spreadsheet listing the designation of of location(s) for service of legal process on financial institutions. This listing is the...more
Earlier this month, the California Department of Financial Protection & Innovation issued a quasi interpretive opinion regarding whether the unnamed requestor must be licensed under California's Money Transmission Act to...more
The California Department of Financial Protection & Innovation recently issued is 2021 Annual Report of Operation of Finance Lenders, Brokers, and PACE Administrators Licensed Under the California Financing Law. The DFPI...more
In 2020, California enacted the California Consumer Financial Protection Law, Cal. Fin. Code § 90000 et seq. The CCFPL authorizes the Department of Financial Protection & Innovation to define unfair, deceptive, and abusive...more
In September 2018, then Governor Jerry Brown signed SB 1235 into law. SB 1235 added a new division to the Financial Code imposing specific loan disclosure requirements on providers of commercial financings. These...more
March 15 was the deadline established by California's Department of Financial Protection & Innovation for licensees under the California Financing Law to transition to the Nationwide Multistate Licensing System. I recently...more
Last August, I alerted readers of this blog to the Department of Financial Protection & Innovation's determination to require all existing licensees under the California Financing Law to transition to the Nationwide...more
In 2006, the California legislature reestablished the requirement that certain state agencies designate a small business liaison. Cal. Gov't Code § 11148.5 added by Cal. Stats. 2006, Ch. 234. A state agency is subject to...more
The California Consumer Financial Protection Law (CCFPL) and the new California Department of Financial Protection and Innovation (DFPI) will significantly impact consumer financial services regulation in California. In...more
In this Issue. The U.S. Securities and Exchange Commission (SEC) was very active this week, having (i) issued no-action relief allowing registered funds to engage in self-custody of interests in loans that are originated,...more
The Situation: On January 1, 2021, the California Consumer Financial Protection Law ("CCFPL") will go into effect, and the Department of Financial Protection and Innovation ("DFPI") will become the financial sector's new...more