Consumer Alerts 2017

The Department of Business Oversight (DBO) has been notified of an entity purporting to be DBO licensee Impac Mortgage Corp. This entity sends unsolicited emails offering loans, using the name of Impac Chief Executive Officer Joseph R. Tomkinson and the...

The California Department of Business Oversight would like to remind consumers that the holiday season brings a higher than normal risk when it comes to cybersecurity. With increases in online shopping and charitable giving during this time, criminals are...

November is “National Veterans and Military Family Month.” Since 1993, the month of November has been an opportunity to honor the commitment, sacrifice, dedication and service of military members and their families who give so much to the service of our...

On September 18, 2017, the Commissioner of Business Oversight took possession of the property and business of the State Assistance Fund for Enterprise, Business and Development Corporation, or SAFE-BIDCO, pursuant to Financial Code section 592. On the same...

The Department of Business Oversight (DBO) has been notified of an entity purporting to be a licensed Premium Finance Company using the DBO licensee’s name “Pacific Premium Finance, Inc.” (or “PP Finance Inc.”). The fraudulent loan documents show the DBO...

Recipients have notified the Department of Business Oversight (DBO) of unsolicited email being sent by someone using the names Alex Copper and Alex Cooper, and the company name and icon of lending company Prosper Marketplace, which the email says is also...

The Department of Business Oversight (DBO) has been notified of a company, “Capital Source Finance,” and individuals Kenneth Turner, John Collier and Matt Daniels purporting to be a division of Pacific Western Bank.  The company and these individuals are...

The Department of Business Oversight (DBO) has been notified that a company using the names “Pacific Credit Union” and “PCU Express of California, LLC” at pcuexpress.com, is falsely claiming to be licensed by the DBO. The website states that “PCU EXPRESSOF...

Commissioner of Business Oversight Jan Lynn Owen today urged all Californians to check immediately and take protective measures if they are among those who personal information may have been compromised in the massive Equifax data breach. Equifax, a credit...

The Department of Business Oversight (DBO) has been notified of Craigslist ads being run by an individual, James A. Reeves, or James Reeves dba “JamesReeves Loan Service LLC” (James Reeves Loan Service, JamesReeves Financial Services).  These ads and...

The DBO has been notified that a company – using the names “Vanguard Group LLC” and “Advantage fin,” the websites vanguardfinancialdirectla.com and vanguardbrokeragellc.com (currently defunct), the email customeraccounts@advantagefin.com, and the address...

The Department of Business Oversight (DBO) has been notified of an individual, “Frank Oliviera” doing business as several companies falsely claiming to be DBO escrow licensees “Oakwood Escrow Inc.” and “American Trust Escrow.”The perpetrators are using the...

The Department of Business Oversight (DBO) has been notified of an entity calling itself “MOCO” or “MOCO Credit of California” or “MOCO (dba Lending Street of California),” and a related Individual “Moses David” with email address mosesd234@gmail.com, who...