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June 2024 Monthly Bulletin

  • DFPI Launches Student Loan Empowerment Network
  • US House Financial Services Committee Visit
  • Bankers Association of the Republic of China (Taiwan) Delegation visit

DFPI Cautions on Apps Offering Unqualified Securities

The DFPI has issued orders for violations of California securities laws against companies that offer unregistered securities to the public through smartphone apps available for download from app stores. The DFPI has posted a new consumer brochure on the topic.

May Consumer Connection

  • Build wealth through banking
  • Advancing economic opportunities for Asian American communities
  • What if my student loan is transferred to a new servicer?

Fee Scam Involving Unauthorized Use of DFPI Logo

The DFPI has received information about scammers fraudulently claiming to be from the “Department of Financial Protection and Innovation” and using the same letterhead and logo of the DFPI.

May 2024 Monthly Bulletin

  • 2023 Report Shows Expanded Enforcement and Awareness Under Consumer Financial Protection Law
  • New Investment Adviser Representative (IAR) Continuing Education Rules
  • Some Escrow Reports Due May 15

April Consumer Connection

  • Protect Yourself from Imposter Scams
  • Three Steps to Managing and Getting Out of Debt
  • Strengthening the Legacy of César Chávez

Credit Union Smishing Scam

Coast Central Credit Union (CCCU) has advised the DFPI that their call center has received numerous calls from members and non-members indicating that they received fraudulent SMS text messages that purport to be from CCCU.

Fraudulent Bank Website Scam

The DFPI has received information about a fraudulent website posing as Bank of the Sierra. The correct web address for Bank of the Sierra is https://www.bankofthesierra.com. The imposter represents itself to the public as “bksierra.org”.

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Last updated: Feb 27, 2024 @ 10:29 am