California Department of Financial Protection and Innovation

New California CFPB-style Agency Will Not Have Authority Over Reverse Mortgage Industry 

The state of California’s new Department of Financial Protection and Innovation (DFPI), a reorganization of the previous Department of Business Oversight (DBO), will not have enforcement authority over the state’s reverse mortgage businesses according to officials with both the new DFPI, and the California Department of Real Estate (DRE). Though modeled after the federal Consumer […]