News & Analysis as of

California Consumer Financial Protection Law (CCFPL) Enforcement Actions

Orrick, Herrington & Sutcliffe LLP

DFPI settles with student loan debt relief company

On February 28, the California Department of Financial Protection and Innovation (DFPI) announced a settlement with an unlicensed student debt relief company and its owner. ...more

Orrick, Herrington & Sutcliffe LLP

DFPI takes action against five debt collectors

On January 30, the California Department of Financial Protection and Innovation (DFPI) announced enforcement actions against five separate debt collectors for unlicensed activity under the Debt Collection Licensing Act (DCLA)...more

Venable LLP

FTC Joins with California DFPI to Obtain Asset Freeze Against Mortgage Relief Business

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​​​​​​​Last week, the Federal Trade Commission turned its attention to the mortgage relief industry once again. In its most recent enforcement action, the FTC joined forces for the first time with the California Department of...more

Sheppard Mullin Richter & Hampton LLP

California Regulator Seeks Comment on Reworking Consumer Complaint Rules

On May 20, the California DFPI released a Notice of Proposed Rulemaking seeking comment on implementing new rules to the California Consumer Financial Protection Law (CCFPL). Previously, the CCFPL expanded the DFPI’s...more

Goodwin

California DFPI Issues $375,000 Sanction Against Debt Collector

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On September 22, 2021, the California Department of Financial Protection and Innovation (DFPI) announced that it issued its first enforcement action against a debt collection company for various practices,...more

Goodwin

California Settles with Student Loan Debt Relief Company for Allegedly Collecting Illegal Fees

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On August 9, 2021, the California Department of Financial Protection and Innovation (DFPI) announced ​that it had entered into a settlement agreement with a Tustin-based student loan d​ebt relief company, resolving...more

Ballard Spahr LLP

CA Dept. Of Financial Protection And Innovation Uses New CCFPL Authority To Take Enforcement Action Against Individual And...

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The California Department of Financial Protection and Innovation (DFPI) announced last week that it has entered into a consent order that permanently bars James Berry and any company he owns or controls from soliciting...more

Goodwin

California’s DFPI Launches Investigation and First Formal Enforcement Action

Goodwin on

On February 3, 2021, California’s Department of Financial Protection and Innovation (DFPI) announced that it has commenced its first formal enforcement action and launched a separate investigation into student loan debt...more

Goodwin

California DFPI Files First Enforcement Action Against Student Debt Relief Company

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On February 3, 2021, the California Department of Financial Protection and Innovation (DFPI) announced its first formal enforcement action against an Irvine-based student debt relief company. The DFPI’s action alleges...more

Goodwin

California DFPI Launches Investigation Into Four Student-Loan Debt-Relief Companies

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On February 4, 2021, the California Department of Financial Protection and Innovation (DFPI) launched an investigation into whether four California-based student-loan debt-relief companies violated the new California Consumer...more

Goodwin

California DFPI Announces Investigation of a Dozen Debt Collectors

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On January 19, 2020, the California Department of Financial Protection and Innovation (DFPI) launched an investigation ​into a dozen debt collectors potentially engaging in unlawful, unfair, deceptive, or abusive acts or...more

Morgan Lewis - All Things FinReg

California DFPI Staffs Up, Begins Investigating Previously Out-of-Reach Businesses

The California Department of Financial Protection and Innovation (DFPI) announced in its January 2021 monthly bulletin that it will begin exercising its enhanced powers under the California Consumer Financial Protection Law...more

Goodwin

10 Key Takeaways From California’s New Consumer Finance Regulatory And Enforcement Regime

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Three California laws that affect fintech companies will go into effect on January 1, 2021. The California Consumer Financial Protection Law (CCFPL) expands the scope of the Department of Business Oversight’s (DBO) current...more

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