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

MARCH 5, 2019

However, lawmakers in California are getting closer to making legislation that would protect small business borrowers using alternative lending platforms, with industry players working with policymakers to make the new rules palatable for everyone. California Governor Jerry Brown signed the bill into law late September.

California 153

California Fintech Lending Regulation 153

PYMNTS

OCTOBER 7, 2019

California Governor Gavin Newsom has signed legislation allowing for the establishment of public banks in the state, and advocates in San Francisco are jumping at the opportunity. Small businesses are another top focus for proponents of public banks, particularly in California’s legal marijuana industry.

San Francisco 101

San Francisco California North Dakota Community 101

PYMNTS

JANUARY 2, 2020

As online shopping powers a forecasted 26 percent year-over-year volume surge on National Returns Day, the United Parcel Service (UPS) foresees shipping 1.9 A 2018 report from the Appriss Retail and National Retail Federation noted that roughly 10 percent of products sold in the U.S. million gifts and other products back to U.S.

National 131

National Retail United States California 131

PYMNTS

SEPTEMBER 12, 2018

that are more modern, but urged lawmakers to approach the issue nationally. According to a report in Reuters , citing The Internet Association, the trade group wants the rules to preempt a new regulation on the books in California that comes into effect in 2020. The aim is to get it into place before the California law kicks in.

National 128

National Data Company California 128

American Banker

AUGUST 30, 2024

City National Bank plans a new branch in California that fulfills one of its settlement obligations with the DOJ; Fiserv and PayPal expand their tech collaboration; Banc of California's Monica Sparks steps down; and more in this week's banking news roundup.

National 28

National California Industry Payments 28

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. Our team is closely monitoring all regulatory, supervisory, and enforcement developments relating to the DFPI.

California 78

California Resources National Groups 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).

California 78

California Innovation Utah West Virginia 78

CFPB Monitor

OCTOBER 6, 2022

A California state court has overruled the demurrer filed by Opportunity Financial, LLC (OppFi) to the cross-complaint filed by the California Department of Financial Protection and Innovation (DFPI) in which OppFi asked the court to reject the DFPI’s “true lender” challenge.

California 78

California FDIC Analysis Utah 78

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

Independent Banker

AUGUST 31, 2021

ICBA’s National Community Bank Service Award winners for 2021 demonstrate that when their local areas need support, community banks are there with innovative, compassionate and thoughtful responses. Roshan McArthur is a writer in California. Last year was earth-shattering in many ways. Emerging Service Program Award. Cross River Bank.

Community Bank 196

Community Bank Community National Fresno 196

PYMNTS

JULY 12, 2018

Dean Garfield of the Information Technology Industry Council — a trade group that represents Google , Microsoft and other tech companies — is calling for faster development of national privacy norms to avoid opposing state rules. Companies will also have a tougher time sharing and/or selling data on children under the age of 16.

National 100

National Groups Data California 100

PYMNTS

JUNE 8, 2020

United Kingdom officials gave a California software company access to the private personal data of millions of British residents to answer questions around COVID-19, CNBC reported.

National 130

National Software Google Big Data 130

PYMNTS

JULY 10, 2020

In today’s top news, Marqeta prepares for an IPO, and Punjab National Bank was defrauded $491 million by one of its customers. Oakland, California-based issuer processor Marqeta, which is backed by Goldman Sachs, is preparing for an initial public offering (IPO) and seeking out investment banks for advice. Valuation In May.

National 130

National Fraud Oakland Payments 130

PYMNTS

MARCH 30, 2016

The news out of California on Monday (March 28) that Governor Jerry Brown, state lawmakers and labor leaders have reached an agreement to raise the state’s minimum wage to $15 an hour has the country buzzing. an hour on Jan. 1, 2017, then to $11 an hour one year later and will see annual increases of $1 until reaching $15 an hour on Jan.

California 100

California Los Angeles South Dakota Retail 100

PYMNTS

AUGUST 26, 2019

National Chocolate Chip Cookie Day (Aug. 4), National Chocolate Day (Oct. 28), National Avocado Day (July 31), National Ice Cream Day (July 21) and so on. If you’re wondering why they didn’t declare National Cheese Day, it was the middle of summer, and ice cream was a better fit for the season than cheese.).

National 109

National social media Millennials California 109

PYMNTS

JULY 15, 2019

In a move that is said to help the company grow across the nation, California cannabis firm Caliva has teamed up with Jay-Z. Caliva recently announced that the rap star will serve as the company’s chief brand strategist and has entered into a multiyear partnership with the firm, CNBC reported.

National 134

National Colorado California Report 134

CFPB Monitor

SEPTEMBER 10, 2020

In 2019, California enacted AB-539, the Fair Access to Credit Act (FACA), which, effective January 1, 2020, limits 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. A number of states have challenged these regulations.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

SEPTEMBER 16, 2019

On the last day of California’s 2019 legislative session, by a vote of 61 to 8, the California State Assembly overwhelmingly passed Assembly Bill 539 , the Fair Access to Credit Act. As we’ve previously covered , AB 539 makes significant amendments to the California Financing Law.

California 60

California National Security Report 60

MyBankTracker

MAY 13, 2021

If you live in California and need to open a new checking account, these are some of the best options available. The Largest Banks in California. The largest banks in California, by deposits, are: Bank of America. City National Bank. Best Checking Account from Local California Banks. Wells Fargo. Union Bank.

California 52

California ATM FDIC National 52

Payments Source

MARCH 17, 2020

The Australian firm agreed to pay around $1 million in connection with allegations that it broke the law by operating without a license in the nation's largest state.

California 82

California National Operations Industry 82

Payments Source

JUNE 29, 2018

The measure, which has been compared to the EU’s new consumer privacy rules, grants Californians new rights over how companies collect and use their personal data.

California 65

California National Data Company 65

PYMNTS

JULY 16, 2018

New rules may loom for technology providers pertaining to privacy — on a national level. The push comes in the wake of California passing legislation that allows consumers to demand that companies disclose how and why they are collecting data.

National 100

National California Regulation United States 100

MyBankTracker

JANUARY 4, 2021

California homeowners insurance provides protection against natural disasters, fire, and theft. How Much Is California Homeowners Insurance? California residents pay, on average, $1,166 a year for homeowners insurance (based on a coverage level of $300,000 dwelling/$1,000 deductible/$300,000 liability). San Jose $997 $169 less.

California 52

California Policies San Diego San Jose 52

PYMNTS

JULY 29, 2019

Proposed regulations would give small businesses in California the nation’s most extensive set of truth-in-lending protections for small business borrowers. . In 2018, California began the journey of establishing lending transparency for small businesses in the state.

Lending 182

Lending California Comparison Regulation 182

Payments Source

SEPTEMBER 19, 2019

A first-in-the-nation bill that drew unanimous support from the state Senate failed to get over the finish line this year. What happened?

California 64

California National Lending Regulation 64

American Banker

MARCH 22, 2016

California Republic Bancorp, which has been aggressively originating and securitizing auto loans for years, is keen on revving up the engine to expand from a 10-state area to a national platform.

California 28

California National Community Bank Community 28

PYMNTS

NOVEMBER 19, 2020

As governors across the country scramble to reimpose restrictions on dining as coronavirus cases soar, the National Restaurant Association is pushing back. 17) to the National Governors Association decrying the latest round of state restrictions. The influential restaurant trade and lobbying group fired off a letter on Tuesday (Nov.

New York City 155

New York City New York National United States 155

PYMNTS

JUNE 4, 2019

California has proposed gig economy legislation that could potentially change workers’ classifications from independent contractors to actual employees, which would make them eligible for the benefits pertaining to that status, according to a report by CNBC. The California Governor Gavin Newsom has not said whether he supports the bill. “A

CA 155

CA Los Angeles California Oregon 155

American Banker

MAY 31, 2022

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California 69

California National Policies Compliance 69

PYMNTS

AUGUST 5, 2020

A report by the California-based agency, whose mission is to prevent consumers from being defrauded online by learning the identity of individuals or organizations, revealed the number complaints about coronavirus scams has doubled in most states. SocialCatfish.com, the identity verification nonprofit, reported U.S.

Study 280

Study Fraud Pennsylvania California 280

American Banker

DECEMBER 3, 2023

Maxine Waters pressed executives from City National Bank, PNC Financial Services and Wells Fargo on opening branches in her California district and upholding promises made from recent merger agreements or consent orders.

California 75

California National Policies Compliance 75

PYMNTS

DECEMBER 30, 2019

Alastair Mactaggart’s 2018 state ballot initiative resulted in the California Consumer Privacy Act (CCPA) and now he wants to ensure it’s bullet-proof from modifications that could weaken it. The law concerns companies that conduct business in California and includes out-of-state companies that sell in California.

California 131

California Data Groups National 131

PYMNTS

NOVEMBER 9, 2020

A ballot measure ratified by a strong majority of California voters to increase protections for digital privacy could blaze a trail for similar measures throughout the nation. Facebook’s WhatsApp To Grow Payments Service Following NPCI Go-Ahead.

Regulation 211

Regulation social media Compliance California 211

PYMNTS

SEPTEMBER 26, 2018

California Attorney General Xavier Becerra and San Francisco District Attorney George Gascón announced on Wednesday (Sept. Companies in California and throughout the nation are entrusted with customers’ valuable private information. 26) that they have reached a settlement with Uber Technologies Inc.,

San Francisco 172

San Francisco District of Columbia Data California 172

PYMNTS

FEBRUARY 25, 2020

A study of how consumers in different nations value their personal data found that German users of Facebook would want the company to pay them roughly $8 a month for providing their contact data. It took a look at how much privacy is valued in six nations as it examined the routines of consumers in Germany, the U.S.,

Study 141

Study Data Online California 141

CFPB Monitor

APRIL 28, 2016

The CFPB has issued its April 2016 complaint report which highlights complaints about mortgages and complaints from consumers in California. General findings include the following: As of April 1, 2016, the CFPB handled approximately 859,900 complaints nationally, including approximately 26,500 complaints in March 2016.

California 60

California Report Los Angeles San Francisco 60