California had been one of 16 states that did not require licensing of debt collectors. That changed last year with the enactment of the Debt Collection Licensing Act. 2020 Cal. Stats. ch. 163 (SB 908). The DCLA will...more
Yesterday, Governor Gavin Newsom has announced the appointment of Clothilde “Cloey” Hewlett to serve as California's next Commissioner of the Department of Financial Protection and Innovation. Ms. Hewlett has been serving as...more
When I served as Commissioner of Corporations, the Department had no website and all files were maintained in paper form. I initiated a project to create electronic records. Long after my tenure ended, the Department of...more
Several thousand lenders and brokers are currently licensed by the Department of Financial Protection & Innovation under the California Financing Law. The CFL generally requires that persons engaged in the business of...more
Recently, Manuel P. Alvarez announced that June 18 will be his last day as Commissioner of the Department of Financial Protection & Innovation. Until Governor Newsom appoints a successor, Chief Deputy Commissioner Chris...more
Last week, the California Secretary of State's Business Programs Division received the 2021 Merit Award from the International Association of Commercial Administrators (IACA) for its new eForms Online application. According...more
In 2006, the California legislature reestablished the requirement that certain state agencies designate a small business liaison. Cal. Gov't Code § 11148.5 added by Cal. Stats. 2006, Ch. 234. A state agency is subject to...more
In 1997, the California legislature enacted the Citizen Complaint Act of 1997. Cal. Gov. Code §§ 8330-8332. The Act requires that state agencies make available on their Internet websites a form through which individuals...more
Earlier this month, I wrote about a California bill, SB 260, that would impose greenhouse gas emissions disclosure obligations on "publicly traded domestic corporations" and "publicly traded foreign corporations". That bill...more
Last year, California enacted AB 1864, Cal. Stats. 2020, Ch. 157, creating the California Consumer Financial Protection Law (CCFPL) under Division 24 of the Financial Code. Remarkably, the legislature left it up to the...more
Yesterday, the Department of Financial Protection and Innovation announced that it had issued "subpoenas to a dozen companies with significant California customer bases, representing the first major action to be taken under...more
Two years ago, California enacted SB 1235 (2018 Cal. Stats. ch. 1011) requiring providers of commercial financing to disclose certain information to the businesses seeking financing. The Department of Financial Protection...more