Governor Appoints New Commissioner - Go Bears!

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...

DFPI Mandates Electronic Filings

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...

Why CFL Licensed Lenders Must Submit New License Applications By Year End

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...

Commissioner Alvarez Leaves Office On Friday - What Happens Next?

Recently, Manuel P. Alvarez announced that June 18 will be his last day as Commissioner of the Department of Financial Protection & Innovation. Until Governor Newsom appoints a successor, Chief Deputy Commissioner Chris Shultz will serve as the...

SOS Wins International Award

Last week, the California Secretary of State's Business Programs Division received the 2021 Merit Award from the International Association of Commercial Administrators (IACA) for its new eForms Online application. According to its website, the IACA...

Can You Name The DFPI's Small Business Liaison?

In 2006, the California legislature reestablished the requirement that certain state agencies designate a small business liaison.  Cal. Gov't Code § 11148.5 added by Cal. Stats. 2006, Ch. 234. A state agency is subject to this requirement if it...

How To Kvetch About And To The DFPI

In 1997, the California legislature enacted the Citizen Complaint Act of 1997. Cal. Gov. Code §§ 8330-8332. The Act requires that state agencies make available on their Internet websites a form through which individuals can register complaints or...

California Bill Would Require Climate-Related Financial Risk Reports

Earlier this month, I wrote about a California bill, SB 260, that would impose greenhouse gas emissions disclosure obligations on "publicly traded domestic corporations" and "publicly traded foreign corporations". That bill will is now set for...

DFPI Wants To Know: Whom Shall We Regulate?

Last year, California enacted AB 1864, Cal. Stats. 2020, Ch. 157, creating the California Consumer Financial Protection Law (CCFPL) under Division 24 of the Financial Code. Remarkably, the legislature left it up to the Department of Financial...

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