By Devyn Arlasky On May 1, 2024, the Office of Administrative Law (OAL) approved the Department of Financial Protection and Innovation’s (DFPI) regulatory action under the Corporate Securities Law of 1968, PRO 07/21. The approved regulation adopts section 260.236.2 of Continue reading
By Maya Patel Gerro v. Shultz, No. B321113, B322706 (Cal. Ct. App.): On July 12, 2024, the California Court of Appeal, Second District, reversed and remanded Gerro v. Shultz in part, holding that the trial court erred in dismissing George Continue reading
By Maya Patel In re Commissioner of Financial Protection and Innovation v. The Firm Alternative LLC: On September 17, 2024, the California Department of Financial Protection and Innovation (DPFI) entered into a consent order with The Firm Alternative LLC d/b/a Continue reading
By Devyn Arlasky Alliance for the Fair Access to Cryptocurrency Terminals v. the State of California, et al., Case No. 23STCP04679 (Cal. Super. Ct.). On August 12, 2024, the Superior Court for Los Angeles County sustained the Department of Financial Continue reading
By Summer M. Bosse AB 2839 (Villapudua), as amended March 17, 2022, would amend section 22370 of the Financial Code as it relates to the California Financing Law’s Pilot Program for Increased Access to Responsible Small Dollar Loans. The Pilot Continue reading
By Alexandra Loyo SB 577 (Limón), as amended January 12, 2022, is a two-year bill that would amend sections 2105, 17202.1, 17414.1, and 80001 of, add section 22050.5 to, and repeal section 80002 of the Financial Code to provide a Continue reading
By Summer M. Bosse On February 1, 2022, the Department of Financial Protection and Innovation (DFPI) announced that it, in partnership with the federal Commodity Futures Trading Commission (CFTC) and 26 other state regulators, has filed a federal lawsuit in Continue reading
By Alexandra Loyo On December 6, 2021, Celina Damian began working as the Department of Financial Protection and Innovation’s (DFPI) first Student Loan Ombudsperson. According to the Department’s December 2021 monthly bulletin, Ms. Damian previously worked with the Department of Continue reading
By Alexandra Loyo On November 4, 2021, the Department of Financial Protection and Innovation (DFPI) noticed and held a public hearing for comments on modifications to the proposed rulemaking PRO 13/13, which would amend sections 1711.1 through 1741.7, Title 10 Continue reading
By Summer M. Bosse On September 14, 2021, the Office of Administrative Law (OAL) approved regulatory action PRO 1/20 from the Department of Financial Protection and Innovation (DFPI), which amends and adopts various sections in Subchapter 1 in Title 10, Continue reading
