California Regulator Seeks Comments On Crypto Asset Related Financial Products

In accordance with Governor Gavin Newsom's executive order, California's Department of Financial Protection & Innovation is soliciting coments concerning crypto asset related financial products.  The DFPI's invitation for comments seeks input  on...

Looking For Cryptocurrency In All The Wrong Places . . .

"But love is blind and lovers cannot see the pretty follies that themselves commit"

The DFPI's Curiously Named "Office Of The Office"

In 2021, the California Department of Financial Protection and Innovation established the Office of Ombuds [sic].  According to the Department, the purpose of the office is "to act as an independent, impartial, and confidential resource to ensure...

California Governor Orders DFPI To Initiate Enforcement Actions

As was widely noted last week, California Governor Gavin Newsom issued a lengthy executive order with respect to blockchain technology.  According to the Governor's press release, the order aims to "aims to create a transparent regulatory and...

President Biden Nominates Former DOC (AKA DBO & DFPI) Attorney To SEC

On Wednesday, President Biden announced that he has nominated Mark Uyeda to serve as a member of the Securities and Exchange Commission.   Mark's work history as an attorney at the SEC should equip him well to serve as a Commissioner.  He previously...

DFPI Sees Few Problems With NMLS Transition, Do My Own Eyes Deceive Me?

March 15 was the deadline established by California's Department of Financial Protection & Innovation for licensees under the California Financing Law to transition to the Nationwide Multistate Licensing System.  I recently asked the DFPI about the...

Are Applications Submitted To The DFPI Subject To Inspection Under The California Public Records Act?

California's Public Records Act, Cal. Gov't Code § 6250 et seq., provides for public access to California state and local government records.  The PRA defines "public records" broadly to include "any writing containing information relating to the...

Lawsuit Challenges DFPI's Threat To Enforce Fair Access To Credit Act

Last week, Opportunity Financial, LLC filed a lawsuit challenging the Department of Financial Protection & Innovation's alleged threat to take enforcement action for violating AB 539, the so-called Fair Access to Credit Act.  Enacted in 2019, AB 539...

Department Of Financial Protection & Innovation Issues Guidance Regarding "Situation in Ukraine and Russia"

Last Friday, Commissioner Clothilde V. Hewlett issued guidance concerning the "situation in Ukraine and Russia".   The guidance reminds licensees of their obligations under federal, and to a lesser extent, California law.  The guidance mentions...

1 2 3 4 5
... 7