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...more
10/30/2023
/ California ,
Consumer Financial Products ,
Department of Financial Protection and Innovation (DFPI) ,
Final Rules ,
Financial Aid ,
Financial Institutions ,
Financial Services Industry ,
Higher Education Act ,
Income Share Agreements ,
Reporting Requirements ,
Student Loan Servicers Regulation ,
Student Loans ,
Truth in Lending Act (TILA) ,
Tuition
As readers may recall, California previously attempted to enact a “Digital Financial Assets Law” with the introduction of AB 2269 in February 2022. In relevant part, AB 2269 proposed (1) a stringent licensing requirement for...more
9/19/2023
/ BitLicense ,
California ,
Cryptocurrency ,
Department of Financial Protection and Innovation (DFPI) ,
Digital Assets ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Proposed Legislation ,
Regulatory Agenda ,
Stablecoins
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...more
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...more
On August 31, 2022, the California Senate voted to approve House Assembly Bill 156, and sent the bill to Governor Newsom for consideration and potential signature. If it becomes law, the bill would amend the existing...more
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...more
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...more
In an announcement to its subscribers sent electronically on May 23, 2022, the California Department of Financial Protection and Innovation (“DFPI”) notified applicants – and prospective applicants – for a license under...more