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DFPI Issues 2023 CCFPL Report
Tuesday, April 30, 2024

Last week the California Department of Financial Protection & Innovation issued a report of its activities under the California Consumer Financial Protection Law. The California legislature enacted the CCFPL in 2020 for the ostensible purpose "to improve accountability and transparency in the California financial system, provide consumer financial education, and protect consumers from abusive financial practices, while prioritizing the prevention of unethical businesses from harming the most vulnerable populations including military service members, seniors, students, low- and moderate-income individuals, and new Californians". Cal. Fin. Code § 90000(a)(4).

As shown from the following table, the top area for enforcement under the CCFPL relates to crypto scams. Fake debt collectors follow in a distant second place.

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