News & Analysis as of

Small Business Department of Financial Protection and Innovation (DFPI)

Davis Wright Tremaine LLP

Previewing Consumer Financial Enforcement in California During the Second Trump Administration

During the first Trump Administration, in response to federal financial agencies adopting a deregulatory approach, several states became more active in the enforcement of consumer financial statutes and regulations to fill...more

Sheppard Mullin Richter & Hampton LLP

Federal Judge Upholds California’s Small-business Lending Disclosures

On December 4, Judge R. Gary Klausner of the U.S. District Court for the Central District of California granted summary judgment to California’s DFPI upholding the recently adopted commercial financing disclosure regulations...more

Ballard Spahr LLP

California federal district court grants summary judgment for DFPI in lawsuit challenging state’s regulations requiring...

Ballard Spahr LLP on

A California federal district court recently granted the motion for summary judgment filed by the California Department of Financial Protection and Innovation (DFPI) in the lawsuit filed by an advocacy organization seeking to...more

Orrick, Herrington & Sutcliffe LLP

District Court grants motion for summary judgment to DFPI in commercial financing disclosure case

On December 4, the U.S. District Court for the Central District of California granted the California DFPI’s motion for summary judgment in Small Business Finance Association v. Clothilde Hewlett, which challenged the DFPI’s...more

Venable LLP

California Expands UDAAP Prohibitions to Commercial Financing

Venable LLP on

Commercial financing in California will be subject to a new rule prohibiting unfair, deceptive, and abusive acts and practices (UDAAPs) effective October 1, 2023. The prohibition extends federal UDAAP restrictions to small...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

Sheppard Mullin Richter & Hampton LLP

California DFPI Finalizes Small Business UDAAP Rule

Recently, the California Department of Financial Protection and Innovation (DFPI) approved the final rule implementing and interpreting certain sections of the California Consumer Financial Protection Law (CCFPL) that...more

Hudson Cook, LLP

California DFPI Issues Final Rules on Commercial Financing UDAAP and Annual APR Reporting

Hudson Cook, LLP on

The California Department of Financial Protection and Innovation became the nation's first regulator with authority to police "abusive" acts and practices in commercial financing when it recently adopted final regulations to...more

Husch Blackwell LLP

California Finalizes UDAAP Rule for Small Business Financing

Husch Blackwell LLP on

On August 2, 2023, the California Department of Financial Protection and Innovation (DFPI) issued a final rule that prohibits certain persons from engaging in unfair, deceptive, or abusive acts or practices (UDAAP) in...more

Morrison & Foerster LLP

Uncharted Territory: California DFPI Finalizes Commercial Financing UDAAP Regulations

The California Department of Financial Protection and Innovation (DFPI) finalized regulations that prohibit unfair, deceptive, and abusive acts and practices (UDAAP) in the offering or provision of commercial financing or...more

Ballard Spahr LLP

Advocacy group files lawsuit challenging California regulations requiring consumer-like disclosures for commercial transactions

Ballard Spahr LLP on

On December 2, a non-profit advocacy organization filed a lawsuit in a California federal district court seeking to enjoin the California Department of Financial Protection and Innovation (DFPI) from enforcing the final...more

Morrison & Foerster LLP

The Other Shoe Drops: The California DFPI Issues Proposed UDAAP Regulations for Providers of Commercial Financing to Small...

Two weeks after the issuance of its commercial financing disclosure regulations, the California Department of Financial Protection and Innovation issued a Notice of Proposed Action with draft regulations that would (1) expand...more

Allen Matkins

DFPI Grants Year-End Reprieve To CFL Licensees

Allen Matkins on

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

Hudson Cook, LLP

California DFPI Proposes Regulations Governing Providers of Small Business Finance

Hudson Cook, LLP on

On August 18, 2021, the California Department of Financial Protection and Innovation ("DFPI") released draft regulations and an invitation for comments under the California Consumer Financial Protection Law ("CCPL"). The CCPL...more

Allen Matkins

Can You Name The DFPI's Small Business Liaison?

Allen Matkins on

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

Morrison & Foerster LLP

Financial Services Report - Spring 2021

Can you say 0 to 60? Not cars, but pretty much everything to do with financial services. A new year, a new administration, and new challenges for providers. Prior CFPB Director Kraninger is long gone. Acting Director Uejio...more

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