Since I served as Commissioner of Corporations in the 1990s, the Department of Corporations has consolidated with the Department of Financial Institutions and changed its name twice. It is now known by the unwieldy name of "Department of Financial...
In the last several weeks, California's Department of Financial Protection and Innovation (fka the Department of Business Oversight) has issued a number of consumer alerts involving companies fraudulently claiming to hold a DFPI license. For...
The California Student Loan Servicing Act (the "CSLSA") requires all student loan servicers that service student loans in California to be licensed by the California Department of Financial Protection and Innovation (fka the Department of Business...
As has been previously noted, California's Governor recently signed AB 1864 (2020 Cal. Stats. Ch. 157) into law (aka the "California Consumer Financial Protection Law"). Broadly speaking, this new law will bestow new regulatory authority on the...
It is now official. Governor Newsom has signed AB 1864.
One of the first registered public offerings that I worked on was for a small technology company. The lead underwriter was a regional investment banking firm. Although he had considerably more experience in securities law than me, the underwriters'...
For most of the 20th Century, the state agency charged with the administration and enforcement of California's securities laws was known as the Department of Corporations. In 2012, then Governor Jerry Brown proposed a plan of reorganization, which I...
In August 2019, I never would have imagined that a banking regulator would be required customers to wear masks. In today's changed world, banking regulators are doing just that. The California Department of Business Oversight in its August monthly...