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California › Consumer Financial Protection Bureau (CFPB) › Truth in Lending Act (TILA)

Ballard Spahr LLP

CFPB comments on California proposal to supervise providers of earned wage access products

Ballard Spahr LLP on

The Consumer Financial Protection Bureau has sent a letter to the California Department of Financial Protection and Innovation (DFPI) commenting on the DFPI’s proposal that would require providers of “income-based advances”...more

Troutman Pepper

CFPB Issues Letter Supporting California DFPI’s Proposed Classification of EWAs as Loans and Promises Guidance as to Federal...

Troutman Pepper on

In March 2023, the California Department of Financial Protection and Innovation (DFPI) proposed new regulations under the California Financing Law that would update the definition of loan to include what it dubs as...more

Ballard Spahr LLP

CFPB and 11 states file lawsuit against companies engaged in origination and collection of income share agreements

Ballard Spahr LLP on

The Consumer Financial Protection Bureau, the California Department of Financial Protection and Innovation (CA DFPI), and ten state Attorneys General have filed a lawsuit against Prehired, LLC (Prehired) and two related...more

Orrick, Herrington & Sutcliffe LLP

California: TILA does not preempt state laws on commercial financial disclosure

Orrick, Herrington & Sutcliffe LLP on

On January 20, California Attorney General Rob Bonta sent a comment letter to CFPB Director Rohit Chopra in response to a preliminary determination issued by the Bureau in December, which concluded that commercial financial...more

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