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.

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Bank Innovation

JANUARY 3, 2020

In this episode, editors discuss the following news developments: The new California Consumer Privacy Act that went into effect Wednesday; How banks are managing feature overload in their apps; New eco-friendly initiatives from Bank of the […].

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CFPB Monitor

JANUARY 12, 2021

The California Consumer Financial Protection Law (CCFPL) became effective on January 1, 2021. The CCFPL gives the California Department of Financial Protection and Innovation (DFPI) (the new name given to the state’s Department of Business Oversight) broad jurisdiction and sweeping new authorities that closely resemble those of the CFPB.

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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.

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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. See Section 1788.102(b)].

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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.

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California Regulation Innovation 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 Code § 100021. 10 CCR § 1850.71

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California Regulation Taxes Report 141

PYMNTS

MARCH 27, 2020

While the advancement of open banking regulations may be seeing a small skip due to the spread of the coronavirus , many countries saw business and typical banking operations halted right after deciding upon new online privacy rules. Considering t he global nature of COVID-19, regulators outside of the U.S. Security .

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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

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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.

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California Regulation Innovation Management 78

PYMNTS

JULY 10, 2020

The end goal: to speed innovation toward new products and services while keeping fraudsters out. Regulation Vs. Market Forces. The need for both innovation and security comes at a time when open banking is gaining a foothold in the United States due in part to the pandemic. The Pandemic Is Speeding Innovation Up.

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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.

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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.

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California Regulation Los Angeles Innovation 78

PYMNTS

SEPTEMBER 26, 2018

California Attorney General Xavier Becerra and San Francisco District Attorney George Gascón announced on Wednesday (Sept. Uber is accused of exposing the data of 57 million users and paying hackers to hide the breach instead of reporting it to law enforcement and regulators.

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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.

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California Regulation Innovation 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 (..)

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California Regulation Innovation 78

CFPB Monitor

JUNE 15, 2022

The California Department of Financial Protection and Innovation (DFPI) has issued final regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances. .

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PYMNTS

MAY 4, 2017

Then, companies working to develop the technological means for cars to drive themselves have levied more than a few criticisms against proposed regulation changes in the state of California. Apple, for one, is hoping that California will work to toughen some of its current self-driving road test policies.

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California Policies Company Apple 100

PYMNTS

JANUARY 29, 2020

The government’s policy and its regulations should be well known before enforcement happens, the policy said. If an agency intends to enforce its laws in new and innovative ways, it must first notify industry stakeholders of its intent to do so and the way in which existing law applies,” it said. Tanvi Ratna, CEO of Policy 4.0,

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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”).

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California Innovation Regulation Report 78

PYMNTS

MAY 24, 2019

In the May Intelligence of Things Tracker , PYMNTS explores the latest news in IoT, including new innovations, security issues, and how oversight groups and governments are reacting to the growing concerns surrounding IoT. Developments from Around the IoT World. Currently, Express Logic operating systems are installed in 6.2

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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.

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California Innovation Regulation 78

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).

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PYMNTS

NOVEMBER 10, 2020

New York-headquartered PAAY, a consumer authentication innovator co-founded in 2011 by James Ruffer and Yitz Mendlowitz, has a new security solution that aims to obliterate hacking and fraud threats. The new solution also helps shield merchants from fines related to GDPR and the California Consumer Privacy Act (CCPA) noncompliance. .

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PYMNTS

SEPTEMBER 18, 2018

18), a San Francisco startup launched by sending roughly 60,000 credit cards to consumers living in northern California. This startup was a bank, and its innovation was a single card that could be used by consumers to purchase things on credit from many different merchants. Sixty years ago today (Sept. The startup was Visa , of course.

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PYMNTS

JUNE 24, 2020

With corporate travel still on pause, commercial card innovation has taken a different direction. “We regret that this incident occurred and take the security of your personal information seriously,” said Cognizant Chief People Officer Becky Schmitt in a letter sent to employees and regulators. .

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PYMNTS

SEPTEMBER 5, 2019

Regulators recently announced plans to take a closer look at the early wage access industry, but as demand among the workforce for such FinTech solutions continues to rise, experts are encouraging lawmakers to get on board with a new normal of payroll. Regulators Step In. Defenders Weigh In.

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CFPB Monitor

JUNE 15, 2022

The California Department of Financial Protection and Innovation (DFPI) has issued proposed regulations to implement provisions of the California Consumer Financial Protection Law (CCFPL) pertaining to consumer complaints and inquiries. Comments are due by July 5, 2022.

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California Regulation Report Policies 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., We are continuing to monitor how the DFPI uses its CCFPL authority to regulate ISA originators and other financial services providers.

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California Management CA Regulation 78

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.

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California Analysis Innovation Regulation 78

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.)

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California Regulation Innovation Payments 78

PYMNTS

DECEMBER 27, 2020

He said he wanted the city to be the "vanguard" of innovation for crypto. Suarez has also pushed for Silicon Valley tech experts not happy with California's regulations to move to his city instead.

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CFPB Monitor

JUNE 1, 2020

California Governor Newsom submitted his updated 2020-2021 budget proposal to the state legislature on May 14, 2020. The budget contemplates the renaming of the DBO to the “Department of Financial Protection and Innovation” (DFPI) and the hiring of 90 new positions by 2022-2023.

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California Policies Regulation Innovation 78

PYMNTS

SEPTEMBER 22, 2020

23) on the landmark complaint against the Menlo Park, California-based tech giant. We actually have to take a hard look at whether these behemoths are killing off innovation and competition.”. and other tech companies have been facing backlash from lawmakers and regulators around the globe. A DOJ spokeswoman declined to comment.

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PYMNTS

JULY 17, 2020

Facebook Inc’s top executives could be required to testify before the Federal Trade Commission (FTC) as the regulator investigates whether the California-based social media conglomerate has violated U.S. antitrust laws, sources told The Wall Street Journal. An FTC spokeswoman declined to comment. states and the DOJ.

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social media Google California Apple 160

PYMNTS

NOVEMBER 1, 2018

FinTech innovation is often a layered process, taking existing infrastructures and processes, and developing new tools to improve upon them. These markets have similar challenges to the legal marijuana sector: products that are regulated, expire and have unique needs in terms of compliance and shipping. .

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Taxes California Regulation Innovation 122

PYMNTS

DECEMBER 14, 2020

This means that safety will, in fact, be a major concern for consumers and regulators. He said that the robotaxi “has passed key … crash tests” under federal regulations. Levinson added that the company will continue “to look for new, innovative ways to protect our riders and others on the road.”. Passengers face each other.

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California Regulation Operations Innovation 160