On July 10, the California DFPI issued an order revoking the financing law license it issued to a fintech company pursuant to its authority under Financial Code Section 22714. The order came following the expiration of the timeframe allowable for licensees to request a hearing. Financial Code Section 22714 enables the DFPI to revoke licenses for a variety of reasons, including failure to comply with a demand or ruling, or for a violation of the California financing law. According to the DFPI’s press release, the DFPI sought “books, records, reports, and other data” used by the company during its examination, but it received no documents. Thus, the California DFPI issued a notice of intent to revoke the California financing law license on June 12, and served the pleadings via U.S. mail the next day, as well as an emailed copy to the company’s designated email address. Thereafter, on June 14, the Commissioner served a copy of the pleadings to the licensee’s agent. Given the expiration of the time allowable to request a hearing, the order was entered, and the fintech will no longer be authorized to perform finance lending activities in California.