California’s DFPI reached a $1 million settlement with Yotta Technologies over alleged false FDIC insurance representations connected to the Synapse bankruptcy, signaling heightened state scrutiny of fintech-bank partnerships and banking-as-a-service models.
On May 12, 2026, Gov. Gavin Newsom announced the appointment of Rohit Chopra, former director of the Consumer Financial Protection Bureau and former commissioner of the Federal Trade Commission, to lead California’s newly created Business and Consumer Services Agency (BCSA). If confirmed by the California Senate, Chopra will serve as the first secretary of the
On May 8, 2024, the California Attorney General released a list of frequently asked questions (FAQs) to help businesses comply with SB 478, California’s soon-to-be effective “Hidden Fees Statute,” a law intended to address so-called “junk fees” by prohibiting “drip pricing.”
On April 1, 2024, California’s legislature introduced Assembly Bill 2863, which proposes amendments to California’s Automatic Renewal Law. If enacted, the proposed amendments would introduce stricter mandates for disclosures, consent, and cancellation processes and further align California’s ARL with the FTC’s proposed changes to its Negative Option Rule.
Continue Reading California Proposes Revisions to Autorenewal Law
On Oct. 7, 2023, California Governor Gavin Newsom signed SB 478 into law. When it becomes effective July 1, 2024, the law will amend the CLRA to generally ban so-called “junk fees.”
California’s effort sits along the Biden administration’s focus on “junk fees,” which multiple federal agencies have now addressed via various advisory opinions, guidance