California Lending Online Security 
CFPB Monitor
JUNE 15, 2022
The California Department of Financial Protection and Innovation (DFPI) has issued final regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances. .
PYMNTS
DECEMBER 7, 2017
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. The sales were for renters’ insurance and term life policies that are offered by four insurance firms via the referral program. 24 to respond.
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PYMNTS
APRIL 16, 2020
three California technology companies, all wanted a piece of the federal government’s $350 billion loan program, which was designed to keep businesses in the black during the COVID-19 pandemic. . It didn’t help that the SBA’s online loan platform couldn’t handle the lending software the companies used. PayPal Holdings Inc.,
PYMNTS
SEPTEMBER 17, 2020
Five years after LoanDepot ditched plans to go public, the California-based lender, now worth as much as $15 billion, is giving the idea a second look. Securities and Exchange Commission (SEC). The firm, which offers mortgages and other direct-to-consumer loans, is planning an initial public offering (IPO), sources told Bloomberg.
Bank Innovation
MARCH 16, 2016
Lenny is meant for mobile (of course) and launched today in California. Millennials hate credit — but a new service called Lenny is out to change that. It will reach Texas, Florida and New York in the next 10 to 12 months, according to the company, which claims that, in less than three Read More.
CFPB Monitor
APRIL 14, 2021
The California Department of Financial Protection and Innovation (DFPI) has issued modifications to its proposed regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances.
PYMNTS
MAY 31, 2019
The California-based CU sought to solve these problems by launching a financial support program to supply children and teens with loans while also teaching them smart money management. . Security and Long-Lasting Impact . Demand is expected to grow even further in the future. .
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