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DFPI and CFTC Join Hawaii Commerce Dept To Sue Precious Metals Dealer

California Department of Financial Protection and Innovation joined Commodity Futures Trading Commission, Hawaii Department of Commerce and Consumer Affairs, Securities Enforcement Branch in filing suit against precious metals dealer, majority owner, sales agent.

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DFPI Launches Pig Butchering Rug Pull Crypto Scam Tracker

California Department of Financial Protection Innovation announced that it has launched a Crypto Scam Tracker. Crypto Scam Tracker is database that is searchable by company name, scam type, or keywords to learn more about crypto specific complaints the DFPI has received.

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Crypto Settlements Signal New State and Federal Enforcement

California DFPI announced participation in $22.5MM multi-state into settlement with Cayman Islands digital asset firm to resolve securities enforcement action in connection with platform earn interest product program. North American Securities Administrators Association group.

New-york , United-states , Oklahoma , South-carolina , Vermont , Washington , Kentucky , California , Indiana , Maryland , Wisconsin , Cayman-islands

California DFPI Says Individuals Cannot Organize Private Banks

California Department of Financial Protection & Innovation issued warning about individuals on YouTube claiming individuals can form their own private banks and become individual bankers to obtain benefits including asset protection by obtaining DFPI registration number.

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NY DFS Adopts Commercial Finance Disclosure Law

On February 1, NY DFS announced the adoption of the final regulation implementing the New York State Commercial Finance Disclosure Law. The final regulations clarified the definition of financial institution exempts subsidiaries and affiliates of exempted banks and credit unions.

New-york , United-states , California , Legal , Usiness , Overnment , Y-dfs , Ommercial-finance-disclosure-law , Ew-york-state-department-of-financial-services , Xempted-banks , Alifornia-dfpi

Arbitration Provisions in True Lender Challenges

A Texas federal court dismissed a class action lawsuit against a financial technology company alleging it violated Texas usury laws by charging interest on loans it made through a partnership with a state chartered bank at rates above the maximum allowed under Texas law.

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California DFPI Proposes Student Loan Servicing Amendments

California Department of Financial Protection and Innovation DFPI issued Notice of Modification to Proposed Regulations to amend student loan servicing regulations, expand income share agreement definition, impose more rules for responding borrower request, and more.

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California DFPI Solicits Comments On CCFPL Draft Rules

California DFPI released Notice of Proposed Rulemaking for comment on new rules for California Consumer Financial Protection Law CCFPL, which would allow DFPI to establish procedures for covered persons to provide timely responses to consumers on complaints, inquiries.

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California DFPI BDIA Licensee Numbers Continue to Decline

Over the last three years, the California Department of Financial Protection & Innovation's Broker-Dealer/Investment Adviser program licenses and regulates investment advisers, the number of investment advisers IAs licensed by the DFPI has continued to decline.

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California DFPI Seeking Federal Enforcementali

The DFPI announced that it filed a civil complaint in the U.S. District Court alleging violations of Section 6c1 of the Commodity Exchange Act and Commodity Futures Trading Commission Regulation.

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