California Gives Lenders Two Weeks to Report on Wildfire Payouts

California on Thursday gave mortgage lenders two weeks to report how they handled insurance payouts for people affected by the 2025 Los Angeles fires, after state regulators received more than 160 complaints about payment delays and other problems. The California Business and Consumer Services Agency and the Department of Financial Protection and Innovation issued the order. Its stated aim is to speed the release of insurance proceeds lenders hold before passing them to homeowners. Banks and credit unions are among the mortgage lenders covered by the directive.

Source: TokenPost