Crypto Lender BlockFi Agrees to Provide More Than $100,000 in Refunds to Californians
The DFPI today announced that New Jersey-based crypto lending platform BlockFi Lending LLC (BlockFi) agreed to direct its servicer to provide Californians more than $100,000 in refunds, subject to the bankruptcy court’s approval.
Don’t Fall Victim to Student Debt Relief Scams
Beware of debt relief companies promising to reduce student loan payments for a fee, as the services they offer are often available for free and seeking help from the Department of Financial Protection and Innovation is crucial.
Filing Taxes Key to Overall Financial Wellness
By filing taxes accurately and on time, you can avoid penalties and interest charges, while potentially qualifying for tax credits and deductions that can help maximize your tax savings. Furthermore, the process of filing taxes prompts you to review your income, expenses, and investments, providing valuable insights into your financial health and opportunities for improvement.
March 2023 Monthly Bulletin
- DFPI Takes Possession of Silicon Valley Bank
- Silvergate Bank to Begin Voluntary Liquidation
- Rebecca Martin Selected as Deputy Commissioner for Consumer Services
Website CALFCB.COM is Fraudulently Posing as California-based, FDIC-regulated “First Credit Bank”
The DFPI has received information that the website CALFCB.COM claims to be associated with the bank “First Credit Bank”. This is a practice commonly called “spoofing” where an imposter creates a fake website claiming to be a legitimate entity.
January 2023 Monthly Summary of Financial Institution Pending Applications
Summary of Pending Applications as of January 2023 (PDF) is available.
DFPI Statement: Comprehensive Review of Oversight and Regulation of Silicon Valley Bank
The DFPI is conducting a comprehensive review of the department’s oversight and regulation of Silicon Valley Bank and will issue a report by early May 2023.
DFPI Statement: First Republic Bank
The deposits made today into California-chartered First Republic Bank by 11 large banks underscores the importance of regional banks in our banking system. Regional banks provide vital banking services relied upon by communities across California.
California Financial Regulator Takes Possession of Silicon Valley Bank
The DFPI announced today that it has taken possession of Silicon Valley Bank, citing inadequate liquidity and insolvency, and has appointed the Federal Deposit Insurance Corporation (FDIC) as receiver of Silicon Valley Bank.
DFPI Statement: Silvergate Bank to Begin Voluntary Liquidation
The California Department of Financial Protection and Innovation announced today that its licensee, Silvergate Bank, has voluntarily begun the process of liquidation.
DFPI Continues Crackdown on Student Loan Debt Relief Companies
The DFPI announced today that it entered into a Consent Order with an unlicensed Orange County student debt relief company, EDU Doc Support, LLC (EDU) and its owner, Hau H. Nguyen (Nguyen).
Don’t Fall Victim to Student Loan Debt Relief Scams
The law prohibits companies from acting in unlawful, unfair, deceptive, or abusive ways, and the Department of Financial Protection and Innovation is here to help you.
DFPI Guidance Regarding Remote Work
The DFPI, in recognition of the end of the COVID-19 State of Emergency on February 28, 2023, and the status of remote work options, issues the following guidance regarding remote work under the California Residential Mortgage Lending Act (Fin Code, § 50000 et seq., “CRMLA”).
December 2022 Monthly Summary of Financial Institution Pending Applications
February 2023 DFPI Consumer Connection
- Student Loan Debt: A Disproportionate Burden on Black and Latino Borrowers
- Protect Your Heart and Your Wallet from Romance Scams
- Medical Debt Collection – Know Your Rights & Medical Debt