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
The $694 Million Paradox: When Does a Risky Loan Become Too Risky to Make?
He Bought Their Identities. Then He Bought the Cars
Catch Me If You Can: Inside the Gingerbread Man Auto-Fraud Enterprise
Case Study: Out of the Inbox, Into the System
Same FICO, Different Risk: Geography Emerges in Auto Loan Delinquencies
All Loan and No Cattle