Tag Archives: DFPI

DFPI Hires Advocate to Run Fintech Office

The California Department of Financial Protection and Innovation (DFPI) yesterday announced it has hired a leading consumer advocate to run its Office of Financial Technology and Innovation, with the mandate to create a “national model for fostering responsible innovation” for entrepreneurs developing financial products and services in the state. The …

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California DFPI Issues NPRM on Licensing Application

California’s Department of Financial Protection and Innovation has issued a Notice of Proposed Rulemaking in relation to its plan to adopt licensing requirements for debt collectors, and opened a 45-day comment period on those proposed rules. The proposed rules seek to adopt the application that will have to be used …

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DFPI Seeks Comments on CCFPL Rulemaking Process

For the accounts receivable management industry, this might be one of those times where it is good to speak up. The California Department of Financial Protection and Innovation (DFPI) on Thursday published an invitation for comments as it determines the rules it needs to implement in order to enforce the …

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DFPI Takes Action Against Student Loan Debt Relief Company, Launches Broader Investigation

The California Department of Financial Protection and Innovation has announced an investigation into student loan debt relief companies while also announcing its first enforcement action, against a company accused of taking money from individuals while misrepresenting that it could have their student loans dismissed. The enforcement action against Optima Associates …

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New California Regulator Launches Investigation Into Collection Industry; Subpoenas 12 Companies

The California Department of Financial Protection and Innovation (DFPI) came out swinging yesterday with its first major action, issuing subpoenas to a dozen companies in the accounts receivable management industry, investigating consumer complaints about alleged unlawful, unfair, deceptive, or abusive collection practices. The companies that were issued subpoenas are: Portfolio …

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