Regulatory Alerts2026-06-30
Added · Updated
Monthly Bulletin – July 2026
The California Department of Financial Protection and Innovation (DFPI) issued its July 2026 Monthly Bulletin, highlighting new requirements for financial institutions to incorporate attorneys' State Bar license numbers into client trust account records by July 1, 2026, as mandated by Business and Professions Code section 6091.3. The bulletin also announced unchanged 2026-27 assessment rates for banks and money transmitters, a slight increase for credit unions, and the adoption of regulations for venture capital companies requiring demographic surveys and reports, with public comments due by July 17, 2026. Additionally, escrow agents with a March 31, 2026 fiscal year end must submit annual reports by July 14, 2026, facing penalties for non-compliance, while the DFPI also reported significant enforcement actions including a $4 million penalty against Navitas for unlicensed lending.