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Licenses Financial Services Industry Department of Financial Protection and Innovation (DFPI)

Goodwin

California DFPI Revokes Company's Lending License for Failing to Comply with Regulatory Exam

Goodwin on

On July 10, 2024, the California Department of Financial Protection and Innovation (DFPI) issued an order revoking the California Financing Law license of a company that had offered both individual and business loans in the...more

Allen Matkins

California Bill Would Require Licensing Of Commercial Financing Providers

Allen Matkins on

Last week, Senator Steven M. Glazer introduced a bill, SB 1482,  that would require licensing of "commercial financing providers" and "commercial financing brokers" with the Department of Financial Protection & Innovation...more

Allen Matkins

DFPI Invites Comments On DFAL Rulemaking

Allen Matkins on

In October, I reported on the Governor's signing of AB 39 which creates the Digital Financial Assets Law.   On or after July 1, 2025, the DFAL will prohibit a person from engaging in digital financial asset business activity...more

Sheppard Mullin Richter & Hampton LLP

DFPI Approves EWA Provider

On February 11, the California DFPI issued an opinion letter in response to an EWA provider’s request for a specific ruling from the DFPI about whether the company’s EWA solution is subject to licensure under the California...more

Sheppard Mullin Richter & Hampton LLP

DFPI Extends NMLS Transition for CFL Licensees to March 15, 2022

On December 16, the DFPI announced that it is extending the deadline for CFL licensees to transition onto NMLS until March 15, 2022. CFL licensees not on NMLS may now transition onto NMLS. To begin the process of...more

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