Former Department of Business Oversight Files Order to Ban Eco Technology, Inc. from PACE Industry

By Stephanie Mendevil On May 27, 2020, the Department of Business Oversight (now Department of Financial Protection and Innovation) issued a Desist and Refrain Order to ban Eco Technology, Inc. from serving as a solicitor in California’s Property Assessed Clean Continue reading

Department of Financial Protection and Innovation to License Debt Collectors and Buyers

By Stephanie Mendivil SB 908 (Wieckowski), as amended August 24, 2020, amends sections 1788.11 and 1788.52 of the Civil Code, and adds Division 25 to the Financial Code, titled “Debt Collection Licensing Act,” relating to debt collectors. Specifically, the bill Continue reading

Legislature Enacts California Consumer Financial Protection Law and Reorganizes and Renames the Department of Business Oversight As the Department of Financial Protection and Innovation  

By Stephanie Mendivil On September 25, 2020, Governor Newsom signed a series of bills to establish a California consumer financial protection watchdog agency, modeled after the federal Consumer Financial Protection Bureau, that is designed to expand the state’s authority and Continue reading

California Department of Insurance Issues a Series of Notices to Insurance Companies Pertaining to Continued Health Care Coverage During the COVID-19 Outbreak

By Brittany Hodgson On March 18, 2020, Insurance Commissioner Ricardo Lara issued a public notice requesting that all insurance companies operating in California provide their insureds with at least a 60-day grace period to pay premiums so that policies are Continue reading

Department of Business Oversight Proposes New Regulations to Implement the California Money Transmission Act Regarding the Agent Of Payee Exemption

By James D. Colleran On March 6, 2020, the Department of Business Oversight (DBO) published notice of its intent to adopt sections 80.126.10, 80.126.20, 80.126.30, 80.128, 80.128.10, and 80.130 of Title 10 of the California Code of Regulations (CCR) to Continue reading

California’s State of Emergency Jeopardizes Proposed Sweeping Changes at the Department of Business Oversight Given Likely Budget Adjustments to Respond to COVID-19 Pandemic

By James D. Colleran On January 10, 2020, the Office of the Governor of California published its 2020–2021 Governor’s Budget Summary, a comprehensive overview of Governor Newsom’s proposed statewide fiscal initiatives for the upcoming year. Among the most momentous undertakings Continue reading

Department of Business Oversight settles with TitleMax of California, Inc. on disciplinary charges

By James D. Colleran On December 16, 2019, the Department of Business Oversight (DBO) announced that it entered into a settlement agreement with TitleMax of California, a subsidiary of the nationwide financial lender TitleMax, which operates 65 California Financing Law Continue reading