California Corporate & Securities Law

California's new Debt Collection Licensing Act, Cal. Fin. Code § 100000 et seq., took effect on January 1, 2022. However, the legislature's inartful and inconsistent draftsmanship has resulted in a great deal of uncertainty over who exactly must be...

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. Stats. ch. 163 (SB 908). The law takes effect on New Year's Day. The...

California's Department of Financial Protection & Innovation has complied this summary of new laws that affect or may otherwise be of interest to persons licensed by the department.  In general, these laws will take effect on January 1, 2022.  See ...

The California Department of Financial Protection is warning consumers that "companies that may be engaging in unlicensed activity and/or falsely advertising cryptocurrency products and services". The warning lists numerous companies or sites...

It seems that no one's identity is immune from theft, including financial regulators. Last week, the California Department of Financial Protection & Innovation announced that it received a complaint from a California resident regarding an email sent...

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. Stats. ch. 163 (SB 908). The DCLA will effect at the beginning of next...

Yesterday, Governor Gavin Newsom has announced the appointment of Clothilde “Cloey” Hewlett to serve as California's next Commissioner of the Department of Financial Protection and Innovation. Ms. Hewlett has been serving as the executive director...

When I served as Commissioner of Corporations, the Department had no website and all files were maintained in paper form. I initiated a project to create electronic records. Long after my tenure ended, the Department of Business Oversight in 2014...

Several thousand lenders and brokers are currently licensed by the Department of Financial Protection & Innovation under the California Financing Law. The CFL generally requires that persons engaged in the business of either finance lender or...