California frequently is in the vanguard of consumer financial issues and legislation, foreshadowing trends that may spread to other states. Today’s episode, during which we explore important hot topics and recent developments in California consumer finance law, is hosted by Ballard Spahr partner Melanie Vartabedian, and features Partners Michael Guerrero and Joel Tasca, and Of Counsel John Kimble.… Continue Reading
CCFPL
California’s DFPI Releases Third Annual Report on Activity Under the CCFPL
By John A. Kimble & Michael R. Guerrero on
On April 25, 2024, California’s Department of Financial Protection and Innovation (“DFPI”) released its Annual Report of Activity Under the California Consumer Financial Protection Law for 2023 (“Annual Report”). The Annual Report provides an overview of rulemaking, enforcement, oversight, consumer complaints, and education and outreach for the calendar year 2023 and confirms that 2023 was the most active year yet for the DFPI.… Continue Reading
California Dept. of Financial Protection and Innovation announces plans to exercise expanded powers under Consumer Financial Protection Law
By Ballard CFS Group on
Posted in CADFPI, Regulatory and Enforcement
The California Consumer Financial Protection Law (CCFPL) became effective on January 1, 2021. The CCFPL gives the California Department of Financial Protection and Innovation (DFPI) (the new name given to the state’s Department of Business Oversight) broad jurisdiction and sweeping new authorities that closely resemble those of the CFPB. As a result, the DFPI has been labeled a “mini-CFPB.”… Continue Reading
California Department of Financial Protection and Innovation Provides Update on California Consumer Financial Protection Law and Debt Collection Licensing Act Rulemaking
By Ballard CFS Group on
On November 16, 2020, the California Department of Financial Protection and Innovation (DFPI) held a “listening session” relating to the implementation of the California Consumer Financial Protection Law (CCFPL). The DFPI’s intent of the session was to gather feedback on the CCFPL to help inform and prioritize its rulemaking and implementation efforts.… Continue Reading
California legislature passes AB-1864 setting the stage for the “Department of Financial Protection and Innovation” and the California Consumer Financial Protection Law; Ballard Spahr to hold webinar on September 29
By Ballard CFS Group on
We previously wrote about California Governor Newsom’s 2020-2021 Budget and an accompanying trailer bill that would rename the Department of Business Oversight (“DBO”) and significantly increase its ability to oversee financial services providers in the state. The proposed law hit a roadblock in May when it was handed to the Legislature for further deliberation and review outside of the typical budgeting process. … Continue Reading