The DFPI’s Student Loan Ombudsperson, Celina Damian, shares the most asked questions she’s received, and their answers, regarding the repayment pause that ended on Oct. 1 Check it out!
Debt: A Guide for New Americans
Managing debt is common in the U.S. and can help build your credit score. But, navigating debt and credit can be challenging if you're new to the country and used to a cash-only lifestyle. Read more.
Basic Banking & Credit for New Americans
Opening a bank account as a newcomer to the U.S. offers numerous benefits. Bank accounts provide easy access to your funds, help grow your savings through interest, and establish your financial history. Read more.
From stocks, bonds, real estate, and even cryptocurrency, join this free webinar to learn about the pros and cons of different investment strategies, the associated risks, how to protect yourself from fraud and scams, and how to build a safe and successful wealth portfolio. Register online.
Upcoming Financial Education Webinars
Dec. 20, 12 – 12:30 p.m. - End of the Year Financial Decisions
Do Your Own Research Campaign - We offer tools and alerts to help Californians make savvy financial decisions. Do your own research. Visit our Consumer Webpage for educational resources. Protect your money and know your rights.
Secretary Lourdes Castro Ramírez Steps Down – Effective Nov. 2, 2023, she leaves her role at the California Business, Consumer Services and Housing Agency. She's led 12 entities and 40 boards since 2020, focusing on housing and consumer protection. She'll continue her work in LA as Chief of Housing and Homelessness.
First-Time Homebuyers Podcast - Our sister department, the California Department of Real Estate (DRE), has a new podcast to guide first-time homebuyers. Listen on major platforms or the DRE website.
CONSUMER ALERTS & ENFORCEMENT ACTIONS
Debt Collector Action – We've taken action against Centennial Services, Bellgate Associates, Moss Westinghouse and Associates, and Prodigy Portfolio Management for deceptive practices. Penalties total $87,500. Confirm a collector's license on our website or the NMLS database.
Crypto Enforcement Videos – We've ordered StableDAO, WAAS and Sam Lee to cease activities for misleading investors with unqualified securities and false claims. They operated a Ponzi scheme, promising 0.1% daily returns.
DID YOU KNOW?
Be Cautious with Credit Repair – Some companies claim to fix your credit but charge fees without delivering on their promises. Federal law ensures you can see results before you pay and cancel the service anytime. For detailed guidance, consult the Consumer Financial Protection Bureau's advisory.
CLOTHILDE V. HEWLETT Commissioner of Financial Protection and Innovation
California Department of Financial Protection and Innovation, 2101 Arena Blvd, Sacramento, California, 95834-2306
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