State regulators Fintech regulations Fintech Career moves Affirm CFPB CaliforniaManuel Alvarez, who became commissioner of the Department of Business Oversight on Monday, is the former general counsel and chief compliance officer at the online lender Affirm. MORE

California’s new consumer privacy law is facing a backlash from businesses around the U.S. The companies, noted the WSJ , are unhappy that California lawmakers didn’t consult them when figuring out how to implement the law. Data businesses California customer loyalty programs data privacy law retailers tech companies What's Hotwhich contend the law will hurt all sorts of companies, whether it’s retailers or customer loyalty programs. MORE

However, lawmakers in California are getting closer to making legislation that would protect small business borrowers using alternative lending platforms, with industry players working with policymakers to make the new rules palatable for everyone. MORE

Fintech regulations Underbanked Small-dollar lending Payday lending Law and regulation Overdrafts California New YorkCompanies that offer early access to earned wages want a regulatory framework for their fast-growing industry. MORE

A bill to regulate firms that give workers early access to unpaid wages passed a key committee this week, but industry groups and advocates are still seeking changes. Payday lending Compliance Underbanked MORE

We recently published a guide examining the California Consumer Privacy Act of 2018, and the steps any financial institution must take in its response to the new law to evaluate its exposure and current state of readiness. Data & Analytics Financial Services Integration & IT Modernization Operations Regulatory Compliance California Consumer Privacy Act California privacy compliance Consumer Privacy DATA DISPERSION MARKETING USAGE THIRD-PARTY RISK MORE

California BanCorp , the holding company for California Bank of Commerce (CBC), has announced the launch of a Treasury Management Consultancy to enable firms to manage their liquidity, utilize excess cash for better investments and reduce financial risks. “We MORE

California Pizza Kitchen has taken notice of this and has decided to raise the bar in its current mobile app, CPK Pizza Dough Rewards. By eliminating the post-meal waiting time, California Pizza Kitchen has placed value on both customers’ experience level and time. “We In fact, 80 percent of our Pizza Dough Rewards loyalty members engage with us through their mobile device,” said Ashley Ceraolo, senior vice president of marketing and beverage at California Pizza Kitchen. MORE

California Naturel falsely advertised that its sunscreen as “all natural,” the FTC said Monday. But California Naturel also admitted that 8 percent of its sunscreen is dimethicone, which is synthetic. The FTC order, which mandates that California Naturel must not misrepresent ingredients or composition of its products or its natural or synthetic content, stemmed from an administrative complaint lodged against the company in April of this year. MORE

Last week, by a vote of 60 to 4 (with 16 not voting), the California Assembly cleared AB 539 , which would change several aspects of the California Financing Law (CFL), including by setting new interest rate caps, imposing new rules governing loan duration, and prohibiting prepayment penalties. MORE

Backpage.com Chief Executive Carl Ferrer, along with two controlling shareholders, are facing fresh charges from California Attorney General Kamala Harris, who last week filed a lawsuit alleging the online media company engaged in pimping and laundering money. According to a report in Fortune , the move by the California AG revives a case that got dismissed by a judge earlier in December. News Security & Fraud Backpage.com California AG Lawsuit money laundering What's Hot MORE

Foods Co, a subsidiary of grocery giant Kroger , has announced that 21 of its grocery stores and five of its gas stations in Central and Northern California are officially through with Visa branded credit cards as a form of payment, effective August 14, 2018. Payment Methods California Foods Co grocery Kroger News Retail Visa Visa credit cards What's Hot MORE

The superstore has seen success in Seattle, Oklahoma City, and 10 locations throughout California, but it is expanding the number of locations in the Golden State. Retail Amazon California curbside pickup delivery ecommerce grocery grocery store Grocery Stores News supermarket walmart What's HotIt’s safe to say that online shopping has changed the way in which consumers shop and altered expectations when it comes to service. MORE

Small-dollar lending Payday lending Nonbank Financial regulations OneMain Financial State of California 13069FThe legislation, which passed a key test in the state Senate on Wednesday, is the product of a compromise between consumer advocates and some lenders. MORE

The news out of California on Monday (March 28) that Governor Jerry Brown, state lawmakers and labor leaders have reached an agreement to raise the state’s minimum wage to $15 an hour has the country buzzing. MORE

Certified Professional Accountants (CPAs) in California are calling on an industry watchdog to clarify standards for cryptocurrency accounting, with expectations that corporations will increase their use of cryptocurrencies moving forward. MORE

California continues its efforts to extend borrower protection rules to small businesses (SMBs), with new support for the initiative from SMB advocates and an approval from the state’s Assembly Appropriations Committee and the California Senate. The California Senate followed with its approval of the SB 1235 bill, dubbed a truth-in-lending law. MORE

The state of California’s insurance regulator is aiming to suspend or revoke the insurance licenses from Wells Fargo due to illicit sales practices with an online referral program. According to a report in CNBC , the state regulator contends that around 1,500 unauthorized policies were opened for California customers without them knowing about it. Regulation California insurance fraud insurance regulator News security & fraud wells fargo What's Hot MORE

In a press release , Fundation said it is collaborating with Banc of California to develop a streamlined, digital small business lending and line of credit solution that the bank can offer to its small business clients. MORE

Proposed regulations would give small businesses in California the nation’s most extensive set of truth-in-lending protections for small business borrowers. . In 2018, California began the journey of establishing lending transparency for small businesses in the state. MORE

24) that it has launched in California. s fasted growing startup, WorldRemit said it has set its sights on California, as the state is home to one in four migrants in the U.S. California will also stand as the company’s second largest market to date. MORE

The state of California has passed a digital privacy law that requires businesses to make disclosures about their collection, use, and dissemination of consumer personal information. The California Consumer Privacy Act (CCPA) will have far-reaching effects on how financial institutions manage their customer data. It affects all for-profit companies doing business in California that generate revenues over $25 million, or receive more than 50,000 unique personal records per year. MORE

California is gearing up to get a tax windfall from all the initial public offerings of California companies slated for this year. When Facebook went public, The Wall Street Journal reported California got $1.3 If California gets billions in tax revenue from the IPOs of tech companies, the governor could face pressure from liberal legislators and interest groups to increase spending. MORE

Payment services providers and financial institutions are beginning their work in helping people recover from the California wildfires — with those disaster responses informed by experiences in previous wildfires and recent hurricanes. MORE

The Washington company will have more than $1 billion in assets in southern California when the $87 million deal closes. Community banking M&A Growth strategies California Washington MORE

He pointed to the recent enactment of the California Consumer Privacy Act of 2018 as an example. B2B Payments B2B California consumer data CSBC data privacy data protection data security Legislation News regulationsThe Conference of State Bank Supervisors (CSBC) said last week that there should be a “floor” for data privacy and security regulations, a statement issued by the Senate Committee on Banking, Housing and Urban Affairs. MORE

The state of California passed a new digital privacy law that provides consumers with more transparency and control over their digital data. While technology and businesses in California weren’t in support of the bill, they didn’t attempt to prevent it because the ballot initiative was even tougher, noted The New York Times. But “it prevents the even worse ballot initiative from becoming law in California.” MORE

We recently published a guide examining the California Consumer Privacy Act of 2018, and the steps any financial institution must take in its response to the new law to evaluate its exposure and current state of readiness. Compliance with the CCPA requires robust processes for identifying, governing, distributing, and securing consumer personal information. MORE

Lobbying groups and trade associations representing tech giants such as Facebook and Apple have thrown their support towards legislation that could weaken California’s landmark privacy law. MORE

In a published interview, California Governor Gavin Newsom said big tech companies in his state could soon be “steamrolled” through federal regulations. Regulation Amazon Big Tech breakup California Competition ecommerce Facebook Google News regulations What's Hot MORE

California is pressing forward with efforts to provide legal banking services to marijuana businesses as cannabis companies struggle to get banked. Reports in The San Francisco Chronicle said California policymakers introduced a bill last Thursday (Jan. The bill, SB930, is one of several concepts that have surfaced in the state in recent months while California supports a growing industry. B2B Payments B2B banking California Marijuana regulation SMBs What's Hot In B2B MORE

Gavin Newsom, the governor of California, wants consumers to benefit from the billions of dollars technology companies in the state made by forcing the tech companies to share their profits. While the governor said he was proud that California is home to so many technology firms, he also said that the companies making billions in profits “collecting, curating, and monetizing our personal data have a duty to protect it. MORE

A tangle of new California MORE

Amazon has begun using Scout, its six-wheeled autonomous delivery robot, in a neighborhood in Irvine, California, according to a report. MORE

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There was movement last week on two California bills that we have been tracking closely and which could substantially alter the lending and brokering landscape under the California Financing Law (“CFL”). MORE

Community banking M&A Growth strategies Capital CaliforniaThe pressure is on CEO Christopher Myers, one of our community bankers to watch, to make the most of CVB Financial's biggest acquisition to date. MORE

We recently published a guide examining the California Consumer Privacy Act of 2018, and the steps any financial institution must take in its response to the new law to evaluate its exposure and current state of readiness. Data & Analytics Financial Services Integration & IT Modernization Operations Regulatory Compliance California California Consumer Privacy Act California privacy consumer privacy act MORE

The word “California” never fails to conjure up a mental image, though that will vary from person to person – some will think sun and sand, others will think movie stars, while still others will think internet startups. Well, if all of these California test drives go according to plan, anyway. MORE

Community banking M&A Growth strategies CaliforniaThe bank will have about $1 billion in assets after it acquires Lighthouse Bank, which is also based in Santa Cruz. MORE

Headquartered in Orange County, California and founded in 2003, CashCall is a big firm that consumers likely know best from its early commercials featuring the late Gary Coleman. During its 15 years in business, the firm grew up to be the largest lender of its kind in the state of California. MORE

As the severe drought in California continues for a third MORE

A new insurance technology ( InsurTech ) company is rolling out its workers’ compensation solution in California. Insurance Journal reported late last week that Oyster Insurance launched its services in California after rolling out in New York and New Jersey earlier this year. MORE

In an effort to halt Volvo from offering cars to consumers through subscriptions, the California New Car Dealers Association (CNCDA) filed a petition with the New Motor Vehicle Board in the state. MORE