News & Analysis as of

California Consumer Financial Protection Law (CCFPL) California Lenders

Allen Matkins

A New Year Has Begun, Time To Get Started On Last Year's Annual Report

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Ladies and Gentlemen, Start Gathering Your Data! If you are a licensee under the California Financing Law, you are required to submit an annual report to the Department of Financial Protection & Innovation no later than...more

Allen Matkins

California Bids Adieu To Its Tiniest De Minimis CFL Exemption

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The California Financing Law prohibits any person from engaging in the business of a finance lender without first obtaining a license from the Commissioner of Financial Protection & Innovation.  Cal. Fin. Code § 22100(a). ...more

Allen Matkins

New Laws For A New Year

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California's Department of Financial Protection & Innovation has complied this summary of new laws that affect or may otherwise be of interest to persons licensed by the department.  In general, these laws will take effect on...more

Allen Matkins

Plaintiffs Succeed In Arguing That They Suffered No Injury!

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Sometimes cases go off in directions that I simply do not expect.   In most cases, I would expect to see the plaintiff contend that it was injured in some way.  However, that was not the case in Lagrisola v. North Am. Fin....more

Allen Matkins

Governor Appoints New Commissioner - Go Bears!

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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

Allen Matkins

Commissioner Alvarez Leaves Office On Friday - What Happens Next?

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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

Allen Matkins

DFPI Wants To Know: Whom Shall We Regulate?

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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

Allen Matkins

DFPI Rings In The New Year By Issuing A Dozen Subpoenas

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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

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