OVERVIEW:
Felix Shipkevich and Yvonne Bowser-Caballero of Shipkevich PLLC hosted a webinar to discuss an overview of the newly approved California Department of Financial Protection and Innovation (“DFPI”) regulations, which establish registration and other reporting requirements for certain consumer financial products or services covered under the California Consumer Financial Protection Law (“CCFPL”), including debt settlement. These regulations are scheduled to go into effect on February 15, 2025. This webinar provided educational information on the new regulations and upcoming requirements for industry executives, attorneys, compliance staff, and professionals.
DISCUSSION TOPICS:
The background and purpose of the new regulations.
The scope of the new regulations includes:
Who the regulations will affect and whether all industry participants (i.e., providers, attorneys, front-ends, payment processors, etc.) will be affected;
How affected entities can register;
What the requirements for registration will be;
Additional reporting requirements; and
The penalties for violations.
The implications of the new regulations for affected companies and how they should prepare.
