CFPB Monitor

OCTOBER 27, 2023

On October 13, 2023, the California Department of Financial Innovation (DFPI) published final regulations implementing the Student Loan Servicing Act (“SLSA”) and the Student Loans: Borrower Rights Law. The final regulations are the culmination of two sets of proposed regulations from the DFPI, which we previously covered here.

California 78

California Regulation Innovation 78

PYMNTS

MAY 5, 2020

California Attorney General Xavier Becerra, along with municipal attorneys from three cities in the state, is suing Lyft and Uber for allegedly misclassifying drivers as independent contractors. They claim that the firms each steered clear of social safety net obligations.

California 150

California San Francisco San Diego Los Angeles 150

Bank Innovation

JANUARY 17, 2018

EXCLUSIVE- Oren Goldschmidt, President at Pivotus Ventures has joined the speaker faculty for Bank Innovation 2018, taking place March 5-6 in San Francisco. Goldschmidt co-founded the California-based Pivotus Ventures two years ago.

San Francisco 281

San Francisco Innovation California Capital 281

CFPB Monitor

MARCH 15, 2022

In 2019, California enacted AB 539 which, effective January 1, 2020, limited the interest rate that can be charged on loans of $2,500 to $10,000 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate. Section 160.110(d). Section 7.4001(e).

California 78

California Innovation Utah West Virginia 78

PYMNTS

DECEMBER 23, 2020

Nuro has received the first-ever autonomous vehicle deployment permit from the state of California, according to a press release. The California DMV is a leader in safety standards, and we appreciate their collaboration and safety-first approach to AV regulation,” he said, according to the release.

California 166

California Software Meeting Technology 166

CFPB Monitor

DECEMBER 6, 2023

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California 148

California Innovation 148

CFPB Monitor

JULY 14, 2022

The California Department of Financial Protection and Innovation (DFPI) has filed its opposition to Opportunity Financial, LLC’s (OppFi) Demurrer to the DFPI’s cross-complaint. The DFPI also alleged additional CFL violations by OppFi, including the CFL’s “anti-evasion” provisions.

California 78

California Innovation Utah Texas 78

CFPB Monitor

NOVEMBER 17, 2020

On November 16, 2020, the California Department of Financial Protection and Innovation (DFPI) held a “listening session” relating to the implementation of the California Consumer Financial Protection Law (CCFPL). The DFPI also provided guidance relating to the Debt Collection Licensing Act.

California 78

California Innovation Regulation 78

Independent Banker

OCTOBER 31, 2021

Community banks are independent institutions fueled by the needs of their individual communities, so what constitutes innovation will look and feel different for every bank. As the popular saying goes, “Creativity is intelligence having fun”—and the same can be said for innovation. Where I’ll Be.

Innovation Strategies 186

Innovation Strategies Innovation Strategy Community Bank 186

CFPB Monitor

JUNE 14, 2023

In its April 2023 Opposition to the California Department of Financial Protection and Innovation (DFPI) motion for preliminary injunction , Opportunity Financial, LLC (OppFi) presents a spirited riposte, drilling down into the DFPI’s fact allegations and legal arguments and asserting “The DFPI is wrong on the law and wrong on the facts.”.

California 78

California Innovation Fintech 78

CFPB Monitor

DECEMBER 14, 2023

A California federal district court recently granted the motion for summary judgment filed by the California Department of Financial Protection and Innovation (DFPI) in the lawsuit filed by an advocacy organization seeking to enjoin the DFPI from enforcing its final regulations (Regulations) implementing California’s commercial financing disclosure (..)

California 78

California Regulation Innovation 78

CFPB Monitor

MARCH 1, 2023

On February 24, 2023, the California Department of Financial Protection and Innovation (“DFPI”) released a Notice containing modifications to previously proposed regulations addressing the Consumer Financial Protection Law (“CFPL”). Continue Reading

California 78

California Regulation Innovation Management 78

PYMNTS

OCTOBER 12, 2020

No matter how innovative they are, companies still need to get paid. And not many companies this year have combined business model creativity with payments innovation more than Beautycounter. While all the innovations and the business awards are nice to have, Renfrew is most proud of her work as a beauty industry activist.

Innovation 270

Innovation New York City Denver Retail 270

CFPB Monitor

JUNE 29, 2022

The California Department of Financial Protection and Innovation (DFPI) has issued proposed regulations implementing certain provisions of the state’s Consumer Financial Protection Law (CFPL). Comments must be submitted by August 8, 2022.

California 78

California Regulation Innovation Management 78

PYMNTS

NOVEMBER 19, 2018

Payment services providers and financial institutions are beginning their work in helping people recover from the California wildfires — with those disaster responses informed by experiences in previous wildfires and recent hurricanes. disasters to which financial institutions and payment services providers have had to respond.

California 140

California Payments ATM Illinois 140

CFPB Monitor

SEPTEMBER 10, 2020

As part of California’s recent triad of consumer financial services legislation, including AB-1864 , which creates the Department of Financial Protection and Innovation and the California Financial Protection Law, and AB-376 , which includes a new Student Loan Borrower Bill of Rights. To register, click here.

California 122

California Regulation Innovation Lending 122

CFPB Monitor

APRIL 12, 2023

A California federal district court recently denied the motion filed by the California Department of Financial Protection and Innovation (DFPI) seeking to dismiss a lawsuit filed by an advocacy organization seeking to enjoin DFPI from enforcing its final regulations (Regulations) implementing California’s commercial financing disclosure law.

California 78

California Regulation Innovation 78

CFPB Monitor

SEPTEMBER 8, 2020

We previously wrote about California Governor Newsom’s 2020-2021 Budget and an accompanying trailer bill that would rename the Department of Business Oversight (“DBO”) and significantly increase its ability to oversee financial services providers in the state. California Consumer Financial Protection Law. Register here. the “CFPA”).

California 78

California Innovation Regulation Report 78

CFPB Monitor

JULY 20, 2022

As discussed in an earlier blog post , the California Department of Financial Protection and Innovation (“DFPI”) issued an Invitation for Comments on the Proposed Second Rulemaking under the Debt Collection Licensing Act (“DCLA”) on August 19, 2021. Code §§ 28100 et seq.). 10 CCR § 1850.2

California 141

California Regulation Taxes Report 141

CFPB Monitor

OCTOBER 26, 2020

On September 25, 2020, California Governor Gavin Newsom signed several consumer protection bills, including AB 3254 , which extends the right to receive a translated version of certain consumer contracts to nonparty signatories, such as guarantors or cosigners.

California 78

California Analysis Innovation Regulation 78

CFPB Monitor

SEPTEMBER 30, 2020

California Governor Gavin Newsom has signed into law the Student Borrower Bill of Rights, AB 376 , as part of a package of consumer protection legislation. Like the licensing law, the Act applies to servicers located in California or whose activities are “directed to” persons inside California.

California 148

California Policies Regulation Payments 148

PYMNTS

NOVEMBER 4, 2020

5) just as the company’s stock is soaring on the election victory of Proposition 22, a California referendum to exempt ridesharing companies from the state’s AB 5 gig worker law. Shares of Uber and other gig economy companies were rallying a day after California voters backed Prop 22. London Reprieve.

California 162

California United States Company Report 162

PYMNTS

JULY 23, 2020

So, how are CUs changing their card innovation plans to match their current members’ demands and attract new potential members? This is just one of many questions PYMNTS, in collaboration with PSCU , set out to answer in the Credit Union Innovation Playbook: Card Trends Edition. Moreover, 89.4 percent between February and May.

Innovation 174

Innovation Report Cards California 174

PYMNTS

AUGUST 28, 2019

At the time, Labor Department official Keith Sonderling said the decision “offers further insight into the nexus of current labor law and innovations in the job market.”. California Trucking Weighs In. Trucking companies in California say the proposal under Assembly Bill 5 is likely to lead to supply chain disruptions.

California 116

California Taxes Industry New York 116

American Banker

JUNE 1, 2023

The Federal Reserve Board and California Department of Financial Protection and Innovation want to ensure the shuttered bank makes good on its commitment to self-liquidate and make depositors whole. It also wants full cooperation on an investigation into FTX ties.

California 68

California Innovation cryptocurrency Compliance 68

CFPB Monitor

SEPTEMBER 12, 2022

On September 9, 2022, the California Department of Financial Protection & Innovation (the “DFPI”) released a Notice of Proposed Rulemaking Action that proposes to adopt regulations implementing the Student Loan Servicing Act (section 28100, et seq.) and the Student Loans: Borrower Rights Law (Civil Code section 1788.100, et seq.).

California 78

California Regulation Innovation Payments 78

CFPB Monitor

AUGUST 9, 2021

Last week, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into “a landmark agreement” with Meratas, Inc., As a result of the license approval, Meratas will be the first ISA program manager authorized by the DFPI to service ISAs in California.

California 78

California Management CA Regulation 78

CFPB Monitor

FEBRUARY 17, 2021

Effective January 1, 2021, California’s revamped consumer protection agency—the Department of Financial Protection and Innovation (DFPI)—has new, sweeping power over consumer financial services providers in the most populous U.S.

California 78

California Resources National Groups 78

PYMNTS

NOVEMBER 15, 2020

Uber may sell its autonomous vehicle unit Uber Advanced Technologies Group ( UberATG ) to a competitor, startup Aurora Innovation, according to a news report. Aurora, which was founded in 2017 by a former Google lead engineer for the self-driving car project, was most recently valued at around $2.5

Innovation 214

Innovation Report Arizona California 214

PYMNTS

SEPTEMBER 12, 2019

Video games are helping to drive retail innovation and growth, and that includes the hot area of subscription commerce. This is only part of the innovation trend stemming from video games. As that happens, video games continue to attract big money, which will lead to more retail innovation.

Video 248

Video Retail Innovation Trends 248

CFPB Monitor

SEPTEMBER 20, 2021

AB-1864, which took effect on January 1, 2021 and significantly expanded the powers of the California Department of Financial Protection and Innovation, required the DFPI to establish a “Financial Technology Innovation Office.”. These discussions may include regulatory questions.

Financial Technology 78

Financial Technology Meeting Innovation CA 78

CFPB Monitor

AUGUST 10, 2021

The California Department of Financial Protection and Innovation (DFPI) has issued proposed amendments to its regulations implementing the Pilot Program for Increased Access to Responsible Small Dollar Loans (Pilot Program). The Pilot Program operates under the California Financing Law (CFL) and is administered by the DFPI.

California 78

California Regulation CA Innovation 78

PYMNTS

AUGUST 6, 2019

Amazon has begun using Scout, its six-wheeled autonomous delivery robot, in a neighborhood in Irvine, California, according to a report. As the company had been testing the robot in Seattle, it said it was accustomed to many different types of weather conditions and expected sunny California to be easier on the vehicle.

California 123

California Seattle Washington Community 123

CFPB Monitor

FEBRUARY 7, 2023

Continue Reading

California 78

California Innovation Fintech 78

PYMNTS

SEPTEMBER 10, 2019

Sometimes innovation in the commerce and payments space is a matter of a new technology or a new process. And beyond this warehouse news, the eCommerce company is also experimenting with other – perhaps sexier – shipping innovations. That’s the story involving Amazon (and, it seems, The Home Depot as well).

Innovation 243

Innovation Seattle California United States 243

CFPB Monitor

OCTOBER 14, 2020

Come January 1, 2021, senior citizens in California will be afforded additional cancellation rights when entering into contracts negotiated or executed away from typical business establishments.

California 78

California Exercises Innovation Report 78

CFPB Monitor

MAY 3, 2021

On April 23, 2021, the California Department of Financial Protection and Innovation (“DFPI”) issued proposed regulations to implement the Debt Collection Licensing Act (“DCLA”). Section 1850.9 – Requires fingerprinting through the California Department of Justice. Spring Street, Suite 15513, Los Angeles, California 90013.

California 78

California Regulation Los Angeles Innovation 78