News & Analysis as of

Rulemaking Process Department of Financial Protection and Innovation (DFPI)

Sheppard Mullin Richter & Hampton LLP

California DFPI Proposes Digital Asset Licensing Rule

On April 4, the California Department of Financial Protection and Innovation (DFPI) issued proposed regulations under the Digital Financial Assets Law (DFAL). The proposal provides clarification on DFAL’s licensing framework...more

Sheppard Mullin Richter & Hampton LLP

Texas Passes Law Expanding Mortgage Borrower Protections

Effective November 23, 2024, the Texas Department of Savings and Mortgage Lending (the “DSML”) adopted new rules affecting mortgage loan companies, mortgage bankers, individual residential mortgage loan originators, and...more

Sheppard Mullin Richter & Hampton LLP

California DFPI Poised to Fill Potential Regulatory Gap Amid Anticipated CFPB Leadership Shift

Starting in February 2025, providers of (1) debt settlement services, (2) student debt relief services, (3) private postsecondary education financing, and (4) income-based advances (a/k/a earned wage access (EWA) products)...more

Ballard Spahr LLP

California Finalizes Registration Requirements for Providers of Earned Wage Access, Other Financial Products and Services

Ballard Spahr LLP on

On October 11, California’s Office of Administrative Law (“OAL”) approved the Department of Financial Protection and Innovation’s (“DFPI’s”) registration rulemaking for providers of the following products...more

Davis Wright Tremaine LLP

February 2024 UDAAP Bulletin

Editor's Note: The following document provides a monthly roundup summarizing enforcement actions, guidance, rulemakings, and other public statements from the Consumer Financial Protection Bureau, the Federal Trade Commission,...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - December 2023

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

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - November 2023

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

Venable LLP

California Expands UDAAP Prohibitions to Commercial Financing

Venable LLP on

Commercial financing in California will be subject to a new rule prohibiting unfair, deceptive, and abusive acts and practices (UDAAPs) effective October 1, 2023. The prohibition extends federal UDAAP restrictions to small...more

Sheppard Mullin Richter & Hampton LLP

New York Adopts Final Commercial Financing Disclosure Regulations

On February 1, NY DFS announced the adoption of the final regulation implementing the New York State Commercial Finance Disclosure Law (CFDL) (N.Y. Fin. Serv. Law §§ 801 to 812). The regulations require companies that offer...more

Sheppard Mullin Richter & Hampton LLP

DFPI Issues Proposed Rules for Commercial Financing

On June 24, the California Department of Financial Protection and Innovation (DFPI) issued proposed regulations implementing certain provisions of the California Consumer Financial Protection Law (CFPL) related to commercial...more

Sheppard Mullin Richter & Hampton LLP

California Regulator Seeks Comment on Future Crypto Guidance

On June 1, the California DFPI began formally seeking input from the public to assist in developing guidance and regulatory clarity for Blockchain and Crypto companies as directed by Governor Newsom’s Executive Order (which...more

Miles & Stockbridge P.C.

Time to Submit Comments for the Regulation to the New California Debt Collection Licensing Act

Last month, the California Department of Financial Protection and Innovation (the "DFPI") published a notice inviting comments for its second rulemaking regarding the rules that will be promulgated under the new California...more

Buchalter

CA DFPI Issues New Round of Proposed Rules for Transitioning Existing CA Financing Law Licensees to the NMLS Platform

Buchalter on

Back in November 2020, we reported the CA Department of Financial Protection and Innovation (“CA DFPI”) as administrator of the California Financing Law (CFL) License had published a third round of proposed rules to...more

Perkins Coie

Fintech Week in Review - January 2021 #2

Perkins Coie on

California DFPI Begins Operating and Focuses on New Industries January 2021 brings with it a newly named and newly empowered California consumer financial protection agency. Effective January 1, the California Department of...more

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