DFPI seeks statutory fee increases to avoid insolvency; LAO recommends time‑limited approval and reporting
DFPI told the Assembly budget subcommittee that decades‑old licensing and exam fees are insufficient and an independent analysis shows the agency risks insolvency without fee increases; DFPI proposed trailer‑bill authority to raise selected fees effective July 1, 2025.
The full story
The Department of Financial Protection and Innovation (DFPI) told the Assembly Budget Subcommittee 5 that decades‑old licensing and examination fees have not kept pace with operating costs and that an independent Crowe LLP review found the department risks insolvency without fee adjustments. DFPI requested trailer‑bill authority to raise fees for selected programs and to allow the commissioner to set hourly exam rates tied to average costs.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.