News & Analysis as of

Rulemaking Process Department of Financial Protection and Innovation (DFPI) California

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

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

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

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

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