Subpoenas 12 Companies
Sacramento, CA – 19 January 2021 – The California Department of Financial Protection and Innovation (DFPI), the state’s new CFPB styled regulator, wasted no time initiating its first major actions after it’s launch. Right out of the gates it has issued subpoenas to a dozen debt collection and accounts receivable management companies, investigating consumer complaints about alleged unlawful, unfair, deceptive, or abusive collection practices. These actions represent the first major action to be taken under the expanded oversight and enforcement authority of the California Consumer Financial Protection Law (CCFPL).
More Stories
Auto Lending Accelerates as Borrower Credit Quality Slips
After the Repo: When Does a Credit Union Finally Admit the Loss?
Auto Lending Is Moving Down the Credit Risk Ladder – Collections and Repo May Follow
The Vendor Scorecard Playbook: Your Head Start on 2027
The Fraud Factory
Holmes Motors to Pay $137,000 Over Alleged Violations of Servicemembers’ Vehicle Lease Rights