CFPB, Federal Agencies, State Agencies, and Attorneys General
The California Department of Financial Protection and Innovation (DFPI) has issued modifications to its proposed regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances.
SB 1235, codified at CA Financial…
In its February 2021 Bulletin, the California Department of Financial Protection and Innovation (DFPI) reminds licensed mortgage loan servicers that DFPI examinations will include processes to determine compliance with state and federal laws providing consumer protections with regard to COVID-19-related foreclosures. The DFPI notes that these laws “include provisions allowing for forbearance of mortgage…
Since the California Consumer Financial Protection Law (CCFPL) became effective on January 1, the state’s Department of Financial Protection and Innovation (DFPI) has wasted no time in asserting its expanded jurisdiction over consumer financial services providers. (The DFPI is the new name given to the state’s Department of Business Oversight (DBO) by the CCFPL.)
Having…
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…
