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June 2022 Monthly Summary of Financial Institution Pending Applications
Summary of Pending Applications as of June 2022 (PDF) is available.
August 2022 Monthly Bulletin
- J. Elizabeth Smith Appointed as Deputy Commissioner of Communications
- Jeanette Quick Appointed as Deputy Commissioner of Investor Protection
- Crypto Asset-Related Products and Services Survey for Banks, Credit Unions, and Trust Cos.
August 2022 DFPI Consumer Connection
- DFPI & AARP Host New Webinar Series for Senior Citizens Day
- Financial Education Is Key for National Financial Awareness Day
- DFPI to Co-Lead California Student Debt Challenge
2021 Reports on the California Mortgage Lending Act and Payday Lending Activity
July 2022 Monthly Bulletin
- Student Loan Borrower Campaign Gains 2022-23 Budget Funding
- DFPI Student Loan Borrower Webinars
- DFPI’s Commercial Financing Disclosure Regulations Extended to Small Businesses
DFPI Awards Nearly $2 Million in Grants for Financial Education and Empowerment Programs
The DFPI today announced the award of nearly $2 million in CalMoneySmart grants to nonprofit organizations throughout California to support free financial education and empowerment programs, including web and classroom-based content and individualized coaching, for unbanked and underbanked consumers.
DFPI’s Commercial Financing Disclosure Regulations Approved to Become Effective as of December 9, 2022
On June 9, 2022, the California Office of Administrative Law (OAL) approved the Department of Financial Protection and Innovation’s (DFPI) proposed commercial financing disclosure regulations.
DFPI Seeks Public Comment on Oversight of Crypto Asset-Related Financial Products and Services Under the California Consumer Financial Protection Law
Governor Gavin Newsom issued Executive Order N-9-22 (Executive Order) on May 4, 2022, to foster responsible innovation, bolster California’s innovation economy, and protect consumers.
California DFPI Hosts Webinar to Help Student Loan Borrowers
The DFPI is working with state and federal agencies as well as local nonprofits to educate student loan borrowers about their rights and upcoming federal deadlines, including the Public Service Loan Forgiveness Waiver that expires on Oct. 31, 2022.
DFPI Marks Success in Implementation of the California Consumer Financial Protection Law
The DFPI announced it has collected close to $1 million in restitution for consumers, fielded hundreds of additional complaints related to the law, and launched more than 100 investigations using its expanded authority under the California Consumer Financial Protection Law (CCFPL).
Buy Now, Pay Later Company Agrees to Cease Illegal Loans, Pay Refunds in Settlement
The DFPI has entered a settlement with Florida-based point-of-sale lender Four Technologies, Inc., in which the company has agreed to stop making loans, pay $2,500 in penalties, get a license, and refund $13,065 in illegal fees.
DFPI continues to bring actions against crypto interest account providers
On August 8, 2022, the DFPI issued an order finding that Celsius Network and its CEO, Alex Mashinsky, made material misrepresentations and omissions in the offer of crypto interest accounts, particularly in understating the risks of depositing digital assets with Celsius.
Beware of Fake Debt Collectors!
The Department has seen an increase in complaints involving fake debt collectors attempting to collect on false debts. We have provided some simple steps to avoid falling victim to a debt collection scam.
DFPI is actively investigating multiple companies offering “crypto-interest accounts”
The California Department of Financial Protection and Innovation (DFPI) is actively investigating multiple companies offering “crypto-interest accounts”.
Website https://crockerwealthmanagement.com/ is Fraudulently Posing as a California-licensed Investment Adviser
The DFPI has received information that the website https://crockerwealthmanagement.com/ is fraudulently marketing itself as a licensed Investment Adviser.
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