Weekly Fintech Focus The California DFPI begins operating January 2021 and looks to regulate new industries. The OCC finalizes its rule on fair access to financial services, prohibiting large banks from denying services to whole industries. Federal banking regulators publish proposed rule to impose additional notification requirements for a broader range of computer-security incidents. California DFPI Begins Operating and Focuses on New Industries January 2021 brings with it a newly named and newly empowered California consumer financial protection agency. Effective January 1, the California Department of Business Organizations is now the Department of Financial Protection and Innovation (DFPI). In its monthly bulletin, the DFPI states that it will “immediately” begin to “review and investigate consumer complaints against previously unregulated financial products and services, including debt collectors, credit repair and consumer credit reporting agencies, debt relief companies, rent to own contractors, private school financing, and more.” As we noted in this blog before, the new DFPI has expanded authority to oversee new industries. Its actions last year prior to the name change, including those against new industries like the buy-now-pay-later industry (discussed here and here) may give an indication of where the DFPI is heading.