Category Archives: Department of Financial Protection and Innovation

AB 1864 (Limón) (Chapter 157, Statutes of 2020), signed by Governor Newsom on September 25, 2020, renamed the Department of Business Oversight (DBO) to the Department of Financial Protection and Innovation (DFPI)

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

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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

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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

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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 →