Consumer Finance Monitor Podcast Episode: California Consumer Finance Law - Hot Topics and Recent Developments
Crypto and Beyond: California DFPI Opinions on Money Transmission and the Money Transmission Act - The Crypto Exchange Podcast
CA DFPI Request for Comment on Cryptocurrency-Related Financial Products and Services - The Consumer Finance Podcast
On February 4, the California DFPI announced a consent order issued against a credit union (respondent) following a significant cybersecurity breach. This breach, a ransomware attack, allegedly led to the shutdown of various...more
On December 23, 2024, The California Department of Financial Protection and Innovation (DFPI) announced a consent order with a crypto lending platform (the Company) that provides financial services to retail and...more
On April 24, 2024, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into a consent order with the Higher Education Loan Authority of the State of Missouri (MOHELA),...more
On April 17th, the CFPB issued a consent order to a for-profit training school alleging numerous violations of law related to its use if income share agreements (“ISAs”). According to the Bureau, BloomTech, Inc. (“BloomTech”)...more
What Happened? On February 27, 2024, the California Department of Financial Protection and Innovation (the Department) entered into a public consent order with a company that provides consumer financial services to...more
On January 9, 2024, the California Department of Financial Protection and Innovation (DFPI) announced that it entered into a consent order with a Delaware fintech company that provided California consumers with access...more
Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more
The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more
Minnesota recently enacted the Commerce Omnibus Finance Bill, which includes amendments to several provisions of Minnesota law related to consumer loans and financial institutions....more
A California-based fintech company recently entered separate consent orders with California, Connecticut, and the District of Columbia to resolve allegations claiming it disguised interest charges as tips and donations...more
A fintech peer-to-peer lender has entered into separate consent orders with California, Washington D.C., and Connecticut relating to its practice of requesting tips and donations in connection with the loans offered through...more
Recent Consent Order Issued by the DFPI Against Student Loan Relief Company - On February 28, 2023, the California Department of Financial Protection and Innovation (DFPI) announced that it has entered into a Consent Order...more
On August 3, 2022, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into a consent order with a Florida-based lending company that allegedly made “illegal loans.”...more
On December 14, 2021, Wheels Financial, LLC (d/b/a LoanMart) entered into a consent order with the California Department of Financial Products and Innovation (DFPI) in which the company agreed to end its lending partnership...more
On December 14, the California Department of Financial Protection and Innovation (DFPI) announced that it entered into a consent order with an LA-based auto title lender to resolve allegations that the company violated...more
Last month we wrote a blog relating to a consent order entered into by the California Department of Financial Protection and Innovation (DFPI) with a servicer of income share agreements. The DFPI determined that, despite...more