A Rash Of License Impersonators?

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...

DFPI's Suit Against PHEA Finds No Purchase

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...

Does California's New Consumer Financial Protection Law Apply To SEC Registered Investment Advisers?

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...

DBO RIP July 1, 2013 to January 1, 2021

It is now official.  Governor Newsom has signed AB 1864

Is The CSL (Over)Due For A Makeover?

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'...

What's In A Name?  A Lot Of Pain

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...

Business Identity Theft On The Web

Nine years ago, I wrote about business identity theft.  The problem has not gone away.  Earlier this week, California's Department of Business Oversight issued a warning about company that is impersonating itself as a licensed lender in order to...

What Would Willie Sutton Say?

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...

DBO Warns That It Will Be Monitoring Face Covering Compliance

"How many then should cover that stand bare!"

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