2014 Press Releases

Interest Rates Can Top 100%; Consumers Risk Vehicle LossDownload this press release (PDF)SACRAMENTO – The state Department of Business Oversight (DBO) today alerted consumers to thedangers of “auto title loans,” a growing credit product for which lenders...

Download this press release (PDF)Armed services members, military retirees and potential investors should exercise caution before engaging in a pension advance plan.Persons receiving monthly pensions, especially military and government retirees, may be...

Download this press release (PDF)SACRAMENTO – The California Department of Business Oversight (DBO) today warned veterans and investors about a scheme that involves the deceptive sale of securities linked to military pension and disability benefits.“There...

Download this press release (PDF)SACRAMENTO (October 10, 2014) – The California Department of Business Oversight (“Department”) hasobtained judgments totaling $10 million against Authotecq Systems, Inc., Paysentinel, LLC, and numerousrelated individuals...

Download this press release (PDF)SACRAMENTO (July 21, 2014) – The California Department of Business Oversight(“Department”) has obtained a $20.4 million judgment against Synergy Oil, LLC and RobertFalco (“Defendants”) for illegal sales and fraudulent...

Download this press release (PDF)SACRAMENTO (June 13, 2014) – The California Department of Business Oversight announced that itwill seek to suspend the licenses of CashCall, Inc. for violations of the California Finance Lenders Law inconnection with...

Download this press release (PDF)SACRAMENTO (May 21, 2014) – The California Department of Business Oversight resolved an action broughtagainst Utah-based City First Mortgage Services, LLC, also doing business as City 1st Mortgage and City 1stMortgage...

Download this press release (PDF)SACRAMENTO (March 14, 2014) – The California Department of Business Oversight, along with 48other states, has reached a settlement with Ocwen Financial Corporation and Ocwen Loan Servicing(Ocwen) regarding violations of...

Download this press release (PDF)Sacramento, CA (March 11, 2014) – The Department of Business Oversight has entered into a settlementagreement with Saxe-Coburg Insurance Solutions, LLC; Michelle Kenen Seward; Dror Soref; and ScottWalter Foulk (the...

Download this press release (PDF)SACRAMENTO (February 12, 2014) – The California Department of Business Oversight issued a Desistand Refrain Order against three companies: World Capital Market, Inc., WCM777, Inc., and WCM777Limited, which collectively ran...