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Businesses must apply by Dec. 31, when the California DFPI licensing safe harbor ends, to continue operating while their licenses are reviewed.
On May 23, California’s Department of Financial Protection and Innovation (DFPI or Department) sent an email notifying license applicants and prospective license applicants that the...
California enactment of the Debt Collection Licensing Act SB 908. Debt collectors and buyers who apply for a license after December 31, 2021, will be required to wait for the DFPI to issue of a license before they can operate in California.
California had been one of 16 states that did not require licensing of debt collectors. That changed last year with the enactment of the Debt Collection Licensing Act. 2020 Cal....
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19...