California Corporate & Securities Law

Yesterday, the California Department of Financial Protection & Innovation published a 74-page report on its oversight and regulation of Silicon Valley Bank.  As explained in this earlier post, the bank was a state chartered bank but the DFPI was not...

As has been widely reported, the California Department of Financial Protection & Innovation announced that it has taken possession of another California chartered bank - First Republic Bank. This is the second California state bank failure this...

The closure of Silicon Valley Bank has understandably attracted a lot of attention. There are, however, other ways to lose money when banking. The California Department of Financial Protection & Innovation recently issued the consumer alert, which I...

Silicon Valley Bank was chartered by the State of California and was subject to the supervision of the California Department of Financial Protection & Innovation. The DFPI was not the bank's regulator. The bank had adopted a bank holding company...

The big financial news on Friday was the failure of Silicon Valley Bank.  According to the DFPI's order, an announcement of a capital raise by the bank triggered a run on the bank:

Despite the bank being in sound financial condition prior to March...

The California Department of Financial Protection & Innovation recently issued a warning about "individual or individuals on YouTube claiming that individuals can form their own “private banks” and become “individual bankers” to obtain various...

The Department of Financial Protection & Innovation's website includes a link to an Excel spreadsheet listing the designation of of location(s) for service of legal process on financial institutions. This listing is the result of legislation enacted...

"Tell me the first tokenThat passed between you and me."

Last month, Governor Newsom signed AB 1177, the California Public Banking Option Act. The law's title is more impressive than accurate, for it does not actually create a public bank. Rather, the law requires the Treasurer to convene a "Blue Ribbon...