Believe it or not, there have been other things happening in the accounts receivable world outside of Hunstein and Reg F. Unsurprisingly, California has remained busy. In recent weeks, the California Privacy Protection Agency (CPPA) held its first meeting, the California Department of Financial Protection and Innovation (DFPI) released FAQs regarding its upcoming licensing requirement, and the Commissioner of the DFPI stepped down.
California Privacy Protection Agency Meeting
Yes, the CCPA is still out there, and things are still happening with it, including the first-ever public meeting regarding the Act. In November 2020, California voters approved Proposition 24, the California Privacy Rights Act (CPRA) which amends the California Consumer Privacy Act. Among other changes, the CPRA established the California Privacy Protection Agency (Agency), which is governed by a five-member Board. The Agency is responsible for adopting additional regulations and enforcing the CCPA.
The meeting was several hours long; however, the key takeaways are as follows:
- The CPPA Board needs to make high-level hires to meet its July 1, 2022 deadline to issue final regulations under the CPRA, which goes into effect on January 1, 2023.
- Once proposed regulations are drafted, the public will have at least 45 days to provide comments to proposed regulations.
DFPI FAQ’s Regarding Licensing
On June 9, 2021, the California Department of Financial Protection and Innovation released FAQs regarding the upcoming licensing requirement. The FAQs cover a wide variety of topics. Although the licensing requirement is slated to go into effect in approximately six months on January 1, 2022, the comments submitted to the CA DFPI in response to its Notice of Proposed Rulemaking remain under consideration.
DFPI Commissioner Announces Departure.
In its monthly bulletin, the CA DFPI announced that Commissioner Manuel P. Alvarez’s last day was June 18, 2021. While we wait for the Governor’s Office to appoint the Next Commissioner, Chief Deputy Commissioner Chris Shultz will serve as Acting Commissioner.