Notice of Invitation for Comments on Proposed Rulemaking Under the California Consumer Financial Protection Law
Mainsail Trim
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The California Consumer Financial Protection Law (CCFPL) protects consumers from unfair, deceptive, or abusive practices committed by providers of financial services or products. Through regulation package PRO 01-21, the DFPI has established new registration and reporting requirements for four previously unregistered products and services in California: (1) debt settlement services, (2) student debt relief services, (3) private postsecondary education financing, and (4) income-based advances, including “earned wage access” products.
Pursuant to this Invitation for Comment, the DFPI seeks input as to what other industries, in addition to those set out in PRO 01-21, the DFPI should establish registration and reporting requirements for under the CCFPL.?
TIME FOR COMMENTS
The Commissioner invites interested parties to submit comments by December 12, 2024.
Submit comments by any of the following methods:??
? ? ? ? ? Department of Financial Protection and Innovation??
? ? ? ? ? Attn:?DeEtte?Phelps??
? ? ? ? ? 2101 Arena Boulevard?
? ? ? ? ??Sacramento, California 95834??
* On September 25, 2020, Governor Newsom signed AB 1864 (Chapter 157, Statutes of 2020), establishing the California Consumer Financial Protection Law (CCFPL) under Division 24 of the Financial Code.