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Settlement Department of Business Oversight

Goodwin

California Department of Business Oversight Announces Settlement with Point-of-Sale Lender Over Allegedly Illegal Loans

Goodwin on

On April 22, 2020, the California Department of Business Oversight (DBO) announced a settlement with a point-of-sale lender that offered consumers a “buy now, pay later” option for payment. ?The DBO alleged that these...more

Allen Matkins

National Class Action Settlements Exceed DBO CAFA Notices

Allen Matkins on

Fourteen years ago, Congress enacted legislation intended to protect consumers and investors from settlements in which plaintiffs' attorneys pulled in large fees while their clients (the class members) received little. In one...more

Goodwin

California DBO Reaches $160,000 Settlement with Payday Lender

Goodwin on

On March 12, 2018, the California Department of Business Oversight (California DBO) announced that it reached a settlement with a payday lender over allegations that the lender improperly raised the principal value of its...more

MoFo Reenforcement

CFPB and California Announce Enforcement Actions Against Online Lender

MoFo Reenforcement on

On Tuesday, September 27, 2016, the CFPB and the California Department of Business Oversight (“DBO”) announced separate enforcement actions against Flurish, Inc., an online lender that does business as “LendUp” in California...more

Allen Matkins

DBO Warns Victims Not To Be Victimized Twice

Allen Matkins on

The DBO has become aware that past investors in Leland Energy are being solicited by a purported New York State-licensed attorney claiming to have been hired by the State of California to contact them regarding $6.5 million...more

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