California to begin oversight of EWA
Payments Dive
OCTOBER 23, 2024
The state instituted regulations Tuesday that will require earned wage access providers to register and be regulated as of next February.
California DFPI releases modified proposed Student Loan Servicing Act regulations
CFPB Monitor
JANUARY 18, 2023
On September 9, 2022, the California Department of Financial Protection and Innovation (DFPI) proposed to amend its student loan servicing regulations, which we previously covered here. After reviewing public comments, on January 6, 2023, the DFPI released a Notice.
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Advocacy group files lawsuit challenging California regulations requiring consumer-like disclosures for commercial transactions
CFPB Monitor
DECEMBER 13, 2022
On December 2, a non-profit advocacy organization filed a lawsuit in a California federal district court seeking to enjoin the California Department of Financial Protection and Innovation (DFPI) from enforcing the final regulations (Regulations) issued by the DFPI to implement.
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California DFPI Finalizes Regulations Governing Student Loan Servicers
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 Lets Aurora Operate Driverless Cars
PYMNTS
JANUARY 30, 2020
Self-driving vehicle company Aurora has been approved by California regulators to allow passengers rides in its fleet of driverless vehicles, according to reports. The California Public Utilities Commission ( CPUC ) granted the company an official authorization, showcased on the official Aurora website.
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Draft California Privacy Rights Act regulations released by CPPA
CFPB Monitor
JUNE 1, 2022
The California Privacy Protection Agency (“CPPA”) scheduled a Board Meeting for June 8 th , in which it will be discussing and possibly taking action with regard to the much anticipated CPRA enforcing regulations. To facilitate this discussion, the CPPA included a draft of the proposed regulations as part of the meeting records.
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Uber Lets California Drivers Set Fees
PYMNTS
JULY 10, 2020
In a move that will give more flexibility to its drivers, less predictability to passengers and potential legal protection for its parent company, Uber now is letting California drivers set their own rates — within limits. Uber’s move comes as the company confronts a California law called AB5 that took effect this year.
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DFPI releases final California Consumer Financial Protection Law regulations imposing UDAAP prohibitions and reporting requirements on certain commercial transactions
CFPB Monitor
SEPTEMBER 8, 2023
On October 1, 2023 the California Department of Financial Protection and Innovation’s (“DFPI”) final regulations impacting those who provide commercial financial products and services will become effective.
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California Cops Enlist Drones For Lockdown Enforcement
PYMNTS
MARCH 20, 2020
A police department in California is going to use drones equipped with loudspeakers to help enforce the state lockdown orders imposed due to the coronavirus, according to a report by the Financial Times. The Chula Vista PD has purchased two drones worth $11,000 each.
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California federal district court grants summary judgment for DFPI in lawsuit challenging state’s regulations requiring consumer-like disclosures for commercial transactions
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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DFPI releases modified proposed California Consumer Financial Protection Law regulations addressing certain commercial transactions
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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California DFPI issues proposed regulations for providers of commercial financing
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 federal district court denies DFPI motion to dismiss lawsuit challenging state’s regulations requiring consumer-like disclosures for commercial transactions
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 Tells Uber And Lyft Their Drivers Are Employees
PYMNTS
JUNE 11, 2020
The California agency that regulates ride-hailing companies Uber and Lyft said their drivers are considered employees under the state’s new gig work law, the latest development in the fight over drivers’ status, Reuters reported. The change impacts more than 1 million workers in the state.
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California Seeks Court Order To Make Uber, Lyft Drivers Employees
PYMNTS
JUNE 24, 2020
In what could be the start of a protracted court fight, attorneys for the state of California plan to ask a judge to order Uber and Lyft to classify their ride-hailing drivers as employees rather than contractors, Reuters reported. 3, California voters will have their say. A hearing is set for Aug.
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California DFPI issues final regulations implementing 2018 law requiring consumer-like disclosures for commercial financing
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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Nuro Gets California Permit For Autonomous Deliveries
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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New California laws place limits on GAP insurance
CFPB Monitor
OCTOBER 27, 2022
Two recently-passed bills in California, Assembly Bill 2311 (“AB 2311”) and Senate Bill 1311 (”SB 1311”), were signed into law by Governor Gavin Newsom on September 13 and September 27, respectively, placing new restrictions on the sale of Guaranteed Asset Protection (“GAP”) waivers in California.
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California AG issues modifications to proposed CCPA Regulations
CFPB Monitor
FEBRUARY 13, 2020
On February 7, 2020, the California Attorney General’s (AG) Office released modifications to the proposed regulations to the California Consumer Privacy Act (CCPA). The modifications incorporate amendments to the CCPA signed into law after the AG’s Office issued the proposed regulations in October 2019.
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California DFPI issues proposed amendments to small dollar loan pilot program regulations
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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Report: Facebook To Move UK Users To California Privacy Agreement
PYMNTS
DECEMBER 16, 2020
users into new agreements with its corporate headquarters in California, effectively circumventing the European Union’s strict privacy laws, according to an exclusive report by the Reuters news service. 15) rolled out a proposal for tough new regulations for digital services that cover online marketplaces, social media and other platforms.
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Uber, Lyft Take On California In Court Over AB5 Allegations
PYMNTS
OCTOBER 13, 2020
Lawyers for Uber , Lyft and the state of California laid out arguments on Tuesday (Oct. In January, California implemented its AB 5 law, which required that ride-hailing, food delivery and other such companies treat their workers as employees rather than independent contractors.
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California DFPI issues proposed regulations to implement new Debt Collection Licensing Act
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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Today In Payments: Wirecard Files For Insolvency; New York To Ease Cryptocurrency Regulations
PYMNTS
JUNE 25, 2020
In today’s top news, Wirecard files for insolvency, and New York proposes easing regulations for cryptocurrency licenses. Plus, California seeks a court order to make Uber and Lyft classify drivers as employees. New York To Ease Cryptocurrency Regulations. California Seeks Court Order To Make Uber, Lyft Drivers Employees.
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California Uber, Lyft Drivers File Lawsuit Over Prop 22
PYMNTS
JANUARY 13, 2021
G ig workers in California who drive for Uber, Lyft and other rideshare and delivery platforms have filed a lawsuit in the state’s Supreme Court seeking to overturn Proposition 22, the Associated Press reported on Wednesday (Jan. Generally speaking, courts in California don’t like to overturn the will of the people,” Moylan said.
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California Won’t Open Restaurants Right Now After All
PYMNTS
MAY 4, 2020
California Gov. Instead, he told a news conference that the state will issue new guidance for California food and dining establishments on Thursday (May 7).
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California DFPI issues proposed regulations on consumer complaints and inquiries
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. Highlights of the proposal include: Complaint Initiation.
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Today In Payments: California Proposes Financial Watchdog; Germany Launches Investigation Into Amazon
PYMNTS
AUGUST 17, 2020
In today’s top news, California lawmakers propose a financial watchdog at the state level, and Germany launches an antitrust investigation into Amazon. California Proposes Financial Watchdog Agency. Plus, the Federal Reserve is working with MIT to explore the use of digital currency. Germany Launches Investigation Into Amazon.
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California Seeks Court Order That Uber, Lyft Drivers Are Employees
PYMNTS
JUNE 24, 2020
In what could be the start of a protracted court fight, attorneys for the state of California plan to ask a judge to order Uber and Lyft to classify their ride-hailing drivers as employees rather than contractors, Reuters reported. 3, California voters will have their say. A hearing is set for Aug.
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Today In Payments: Scammers Target Used Car Buyers; California Voters Uphold Gig Worker Status
PYMNTS
NOVEMBER 4, 2020
In today’s top news, scammers are targeting used car buyers amid an uptick in digital sales, and California voters passed a proposition that upholds gig worker status. Prop 22: California Side With Uber And Lyft, Nix AB 5 Gig Worker Law. Plus, Wayfair released a blockbuster quarterly earnings report. Morgan’s Onyx, tells Karen Webster.
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California Grants Lending License To BNPL Platform Sezzle
PYMNTS
JANUARY 17, 2020
Sezzle , the California-based alternative payments lender, announced Thursday that it was finally approved by the state’s Department of Business Oversight ( DBO ) for a lending license. California allowed Sezzle to have its license after all once the company agreed to state regulatory oversight, audits and examinations.
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FinTech Firms Ease Resistance To California SMB Borrower Protection Rules
PYMNTS
MARCH 5, 2019
While small business lending has become a platform for some high-profile FinServ scandals in several markets, opponents of expanding borrower protection legislation to small businesses have argued that such regulations would actually hamper financial institutions’ ability to expand credit access for the small business community.
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California Reconsidering the “Digital Financial Assets Law”
CFPB Monitor
SEPTEMBER 18, 2023
As readers may recall, California previously attempted to enact a “Digital Financial Assets Law” with the introduction of AB 2269 in February 2022. Continue Reading
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CPPA publishes new draft regulations addressing AI, risk assessments, cyber audits
CFPB Monitor
SEPTEMBER 7, 2023
The California Privacy Protection Agency (CPPA) recently published two new sets of draft regulations addressing a range of cutting-edge data protection issues.
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California legislature passes bills requiring licensure of debt collectors
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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California DFPI issues draft text for second rulemaking under Debt Collection Licensing Act
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 bars unfair, deceptive practices in small business lending
American Banker
AUGUST 23, 2023
A new state regulation brings consumer-style rules to the small business realm, extending California regulators' ability to crack down on nonbank lenders that engage in questionable practices. Observers believe that it could be a model for other states.
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California AG releases proposed CCPA regulations
CFPB Monitor
OCTOBER 14, 2019
The California Attorney General’s Office released its long-awaited proposed CCPA regulations last week. respond to consumer requests to access or delete household information; respond to requests to opt-out; respond to requests to opt-in after consumers exercise their right to opt out of the sale of personal information; and.
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Bitcoin Daily: China Expands Digital Cash Pilot; California Bill Defining Digital Assets Moves Forward
PYMNTS
AUGUST 16, 2020
The move comes as numerous places around the world look into digital currencies for official business, including the state of California, as it moves ahead with a digital asset bill, Assembly Bill 2150.
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California voters approve CPRA
CFPB Monitor
NOVEMBER 9, 2020
On November 4, 2020, California voters approved of the ballot initiative Proposition 24, more commonly known as the California Privacy Rights Act (the “CPRA”). The CPRA goes into effect on January 1, 2023, and will expand several of the existing protections in the California Consumer Privacy Act (the “CCPA”).
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As CCPA goes into effect this week, banks face new regulations on customer data
Bank Innovation
DECEMBER 31, 2019
With the start of the new year, banks and fintech companies that do business in California will need to grapple with the new California Consumer Privacy Act (CCPA), which goes into effect Wednesday.
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California begins registration of financial service providers
American Banker
OCTOBER 24, 2024
California's Department of Financial Protection and Innovation is requiring registration by mid-February of debt settlement firms, earned wage access providers, private secondary education financing and student debt relief services.
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Lawmaker: California's AB 3262 Will Not Proceed In Its 'Present Form'
PYMNTS
AUGUST 31, 2020
The lawmaker behind a proposed California consumer protection law indicated that it will not proceed in its current iteration, CNBC reported. The conversations were productive as we worked to move beyond the ‘buyer beware’ mentality, and toward an online policy that has been the law for brick-and-mortar retailers in California for decades.”.
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Big Tech Compliance Tracker: EU Prepares To Propose New Big Tech Regulations; Turkey Fines Big Tech Platforms $1.18M
PYMNTS
NOVEMBER 9, 2020
Regulation. EU Gears Up To Propose New Big Tech Regulations. Australian Regulator Looks Into Merger Law Changes. The regulation enables authorities in Turkey to take content off of platforms instead of restricting access as they had done previously.
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