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Consumer Alerts 2016

Tax Preparation Consumer Advisory

Dec 3, 2016

Tax Season is in full swing. Taxpayers should take steps to protect themselves against a variety of hazards as they prepare and file their tax returns.

Small Business Advisory: Crowdfunding

Dec 3, 2016

The Jumpstart Our Business Startups (JOBS) Act, a series of legislative provisions intended to facilitate capital formation in the United States, was signed into law in 2012. This legislation included the CROWDFUND Act, which made significant changes to current...

Crowdfunding – Investors

Dec 3, 2016

The Internet has become an inexpensive and easy way for individuals and businesses to raise money. In 2012, Congress passed the JOBS Act, which directed the Securities and Exchange Commission (SEC) to formulate rules to exempt equity crowdfunding from the securities...

Know your Lender

Dec 3, 2016

To protect themselves against scam artists and abusive, illegal fees, it’s important for consumers to ensure they’re dealing with reputable and licensed lenders. When they come across loan solicitations in the mailbox, email or on the Web, they should study them with a careful eye and exercise good judgment.

Unlicensed Bank Warning: Greenwood Commercial Bank

Nov 28, 2016

The Department of Business Oversight (DBO) on Nov. 9 issued a cease and desist order against Greenwood Commercial Bank to stop it from operating without a license.  Greenwood purports to be a bank located at 555 12th Street, Suite 500, Oakland, California...

Scam falsely claims association with Western Union, United Nations

Jul 20, 2016

The Department of Business Oversight (DBO) has received reports of a scam fraudulently using Western Union’s name. Several consumers reported receiving emails purporting to be from Western Union claiming the recipient has been approved to receive the sum...

Unlicensed online securities broker-dealer services and sales of CDs

May 4, 2016

The Department of Business Oversight (DBO) has been notified two related companies have been offering unlicensed online securities broker-dealer services and unregistered sales of certificates of deposit (CDs).  The two firms are Leitner Investments (dba...

Fraudulent Company Using Identity of DBO Payday Lender Licensee

Apr 25, 2016

The Department of Business Oversight (DBO) has been notified an entity calling itself “Check City” is using, without authorization, the name and doctored license of “Check City, a dba of CCO California Inc.” They solicit would-be customers for a payday...

Using Identity of DBO Escrow Licensee to Check Scam

Mar 9, 2016

The Department of Business Oversight (DBO) has been notified unknown persons are attempting to cash fraudulent checks they falsely represent as issued by DBO licensee Foresite Escrow Inc. The perpetrators are contacting individuals through Craigslist and...

Aliso Canyon Natural Gas Leak – Consumer Guidance

Feb 9, 2016

The Department of Business Oversight has asked its financial service licensees to help consumers and homeowners cope with financial hardship caused by the Aliso Canyon natural gas leak (PDF) and issued consumer guidance with more details. Consumer Alerts...

Etrion Trading Corporation

Feb 9, 2016

The Department of Business Oversight (DBO) has been notified Etrion Trading Corporation is offering escrow services to consumers through the unauthorized use of Escrow.com’s license number.  Escrow.com is a DBO-licensed online escrow company.  Etrion...

Check Scam Using Identity of DBO Escrow Licensee

Jan 12, 2016

The Department of Business Oversight (DBO) has been notified unknown persons are attempting to cash fraudulent checks they falsely represent as issued by DBO licensee Prominent Escrow Services, Inc. The perpetrators are contacting individuals through...

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