SACRAMENTO, Calif. -- On April 8, 2021, the Commissioner initiated a rulemaking to
adopt regulations related to the requirements for licensure under the Debt
Collection Licensing Act (“DCLA”). The Commissioner is now considering a second
rulemaking to adopt regulations related to other provisions of the
DCLA, including its scope, annual reports, and bond amounts.
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The California Department of Financial Protection and Innovation
(DFPI) has issued an invitation for comments from interested parties on draft
rules to implement certain provisions of the California Consumer Financial
Protection Law (CCFPL) which became effective on January 1, 2021. The
CCFPL provisions that the draft rules would implement deal with (1) procedures
for a covered person or service provider to respond to consumer complaints and inquiries, and (2) the definition of unfair, deceptive, or abusive acts and
practices in connection with the offering or providing of
commercial financing or other financial products and services to small business
recipients, nonprofits, and family farms. Comments are due by September
17, 2021.
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