On August 31, 2020, the California legislature passed the California Consumer Financial Protection Law (CCFPL). The law reflects Governor Newsom’s vision of a much more powerful banking agency with new registration authority,...more
9/2/2020
/ Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Corporate Counsel ,
Dodd-Frank ,
Enforcement Authority ,
Financial Services Industry ,
Registration Requirement ,
Remedies ,
Reporting Requirements ,
Statute of Limitations ,
Transparency ,
UDAAP
The California legislature is poised to cap rates on larger consumer installment loans. Assembly Bill 539 has passed the state Assembly and the state Senate Committee on Banking and Financial Institutions. Although directed...more