California’s New DFPI Launches Investigations into the Collection Industry

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).

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