Summary
- The California Department of Financial Protection and Innovation (DFPI) is appealing a trial court decision that dismissed its “true lender” theory in the case of Opportunity Financial, LLC v. Hewlett.
- This appeal follows a ruling from the Los Angeles County Superior Court that could impact bank-fintech lending practices.
- The DFPI's challenge aims to clarify regulatory oversight in the evolving financial landscape.
- The outcome of this appeal may set significant precedents for future fintech lending regulations in California.
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