The 2020 annual report for the California Financing Law released today shows a change in consumer behavior likely impacted by a number of factors, including the global COVID-19 pandemic.
DFPI Sanctions Debt Collector in First Action Under the California Consumer Financial Protection Law
The DFPI today issued its first enforcement action against a debt collector and debt buyer.
The DFPI today announced the award of nearly $2 million in CalMoneySmart grants to nonprofit organizations throughout California.
DFPI Moves to Protect California Homeowners with Mandatory Reporting Requirements for Mortgage Servicers
With homeowners facing the possibility of foreclosure, state financial regulator launches review of mortgage servicers while educating consumers on their options.
Debt collectors, debt buyers, and debt collection attorneys operating in the state may now submit their license applications online at the Nationwide Multistate Licensing System (NMLS).
California DFPI Requires Student Loan Debt-Relief Company to Pay More Than $1 Million in Penalties, Restitution
The DFPI today announced it is requiring a Tustin-based student loan debt-relief company, Amerifed Doc Prep LLC, to pay penalties and refunds totaling more than $1.37 million.
The California Department of Financial Protection and Innovation (DFPI) today announced it had signed a landmark agreement with New York-based Meratas, Inc.. Read more …
A new report shows nonbank residential mortgage loans doubled from 2019 to 2020 as more Californians refinanced or obtained new loans in response to lower interest rates.
During an historic pandemic, California’s payday lenders made fewer than 6.1 million loans in 2020, representing a 40 percent decline in loans from 2019. Read more …
The DFPI today announced it has moved to revoke the PACE Administrator license of Renovate America, Inc. (Renovate) after finding its solicitor defrauded homeowners. Read more…
After National Search, the DFPI Hires ‘Fintech’ Legal Expert to Lead New Financial Technology and Innovation Office
The DFPI announced today it has hired Christina Tetreault to lead the new Office of Financial Technology and Innovation. Read more…
The DFPI today announced the formal creation of its inaugural debt collection advisory committee, a seven-member board that will provide critical feedback to the Department as it stands up its debt collection licensing program. Read more …
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