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State and Local Government Governor Newsom Financial Services Industry

Allen Matkins

New Leader At The California Department Of Financial Protection & Innovation

Allen Matkins on

Last month, Governor Gavin Newsom appointed Khalil “KC” Mohseni, as Commissioner of the California Department of Financial Protection and Innovation.  Commissioner Mohseni is not an entirely new to the DFPI.  He served as...more

Wilson Sonsini Goodrich & Rosati

Incoming: California's Digital Financial Assets Law Dropping July 1, 2025

On October 13, 2023, California Governor Gavin Newsom signed into law California Assembly Bill 39, California’s Digital Financial Assets Law (DFAL). DFAL will regulate “digital financial assets” and require companies engaged...more

Fenwick & West LLP

California Enacts Digital Financial Assets Law

Fenwick & West LLP on

On October 13, California Governor Gavin Newsom signed into law Assembly Bill 39 (AB 39), establishing a Digital Financial Assets Law (DFAL) set to go into effect July 1, 2025. Whereas previously the California...more

Sheppard Mullin Richter & Hampton LLP

California Regulator Seeks Comment on Future Crypto Guidance

On June 1, the California DFPI began formally seeking input from the public to assist in developing guidance and regulatory clarity for Blockchain and Crypto companies as directed by Governor Newsom’s Executive Order (which...more

Ballard Spahr LLP

CA DFPI Commissioner Alavarez reported to be leaving agency

Ballard Spahr LLP on

American Banker has reported that Manny Alvarez, Commissioner of the California Department of Financial Protection and Innovation, will be leaving the agency on June 18, 2021. ...more

Holland & Knight LLP

California Legislative Roundup 2020: Financial Services

Holland & Knight LLP on

Notwithstanding a pandemic-induced winnowing of legislative priorities this year, California has passed a handful of new bills to regulate discrete areas of the financial services industry, including student loan servicing,...more

BCLP

California ‘Mini-CFPB’ Passed by State Legislature

BCLP on

Summary of the California Consumer Financial Protection Law - ..Applies to any person that offers or provides a consumer financial product or service to a California resident ..Prohibits unlawful, unfair, deceptive, or...more

Ballard Spahr LLP

Update on California bill to revamp Department of Business Oversight

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California Governor Newsom submitted his updated 2020-2021 budget proposal to the state legislature on May 14, 2020. The proposed budget amendments include substantial cuts to compensate for the anticipated impact to state...more

White & Case LLP

COVID-19 Response: US Financial Services Regulatory: U.S. State/Local (Updated April 24, 2020)

White & Case LLP on

In response to the global COVID-19 crisis, US financial regulators at the state level are taking important actions that affect US and non-US financial institutions, other financial services providers, consumers, and the US...more

Morgan Lewis

Watch Out for California – State Stepping Up Fintech and Lending Regulatory Enforcement

Morgan Lewis on

A recent legal conference in Washington, DC, highlighted newly proposed and ongoing regulatory changes in California concerning consumer and commercial lending. ...more

Alston & Bird

California Governor Moves to Strengthen State Consumer Protection Enforcement in 2020

Alston & Bird on

A&B ABstract: On January 10, 2020, California Governor Gavin Newsom released his budget summary for 2020 to 2021. ...more

Allen Matkins

Governor Proposes To Expand Department Of Business Oversight Authority And Funding

Allen Matkins on

Last week, Governor Gavin Newsom delivered his proposed budget for California's 2020-2021 fiscal year. The Governor is proposing to rename the Department of Business Oversight as the Department of Financial Protection and...more

Allen Matkins

Governor Signs Bill Authorizing Public Banks - What Could Possibly Go Wrong?

Allen Matkins on

Yesterday, Governor Gavin Newsom signed AB 857 into law. The bill authorizes local agencies to establish so-called "public banks", subject to approval by the Department of Business Oversight and Federal Deposit Insurance...more

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