DFPI, Federal Reserve Issue Joint Consent Order to Oversee Silvergate Bank Voluntary Liquidation
The DFPI today announced that it has issued a joint consent order with the Federal Reserve Board of Governors (FRB) to facilitate the implementation of the voluntary liquidation plan announced by Silvergate Capital Corporation and Silvergate Bank on March 8, 2023.
Imposter Website is Fraudulently Posing as a California-licensed Deferred Deposit Originator as part of Advanced Fee Scam
The DFPI has received information about an advance fee scam. The imposter’s website is not associated with a California-licensed Deferred Deposit Originator “CCFI Funding, LLC, DBA, Cash Central, Insight Capital.”
April 2023 Monthly Summary of Financial Institution Pending Applications
Summary of Pending Applications as of April 2023 (PDF) is available.
How to File a Complaint with the DFPI
Filing a complaint with the DFPI helps in effectively addressing your financial grievances by facilitating communication with the relevant institution, and also assists in protecting other consumers by identifying patterns of misconduct, thus promoting fair business practices.
May 2023 Monthly Bulletin
- DFPI Review of Silicon Valley Bank Oversight and Regulation
- DFPI Takes Possession of First Republic Bank
- DFPI Takes Action Against AI Investment Scams
DFPI Charges Southern California-Based Precious Metals Dealer with More Than $60 Million Coin Fraud
DFPI, in partnership with the CFTC and the State of Hawaii, today filed a federal lawsuit against Red Rock Secured, a precious metals dealer, for perpetrating $60 million fraudulent scheme that targeted customers’ retirement savings.
March 2023 Monthly Summary of Financial Institution Pending Applications
Summary of Pending Applications as of March 2023 (PDF) is available.
California DFPI Announces Results from Review of the Supervision and Closure of Silicon Valley Bank
SACRAMENTO – The California Department of Financial Protection and Innovation (DFPI) today released its Review of DFPI’s Oversight and Regulation of Silicon Valley Bank (SVB).
California Financial Regulator Takes Possession of First Republic Bank
The California Department of Financial Protection and Innovation (DFPI) announced today that regulators have taken possession of First Republic Bank.
DFPI Begins Accepting Applications for up to $200,000 in CalMoneySmart Grants
The DFPI announced today it is now accepting applications for the 2023 CalMoneySmart Grant Program, which will award a total of $2 million to nonprofits to provide free financial empowerment programs for people experiencing financial insecurity in California.
Private and For-Profit College Financing Scams
Learn about private postsecondary education financing, common scams, and borrower rights, as well as resources for avoiding scams and how to file a complaint with the DFPI. Safeguard your education and financial future.
Embracing Sustainable Investment Practices with ESG Investing
Embrace sustainable investment practices with ESG investing, focusing on environmental, social, and governance factors. Learn how to get started, avoid common mistakes, and seek professional guidance to align your investments with your values.
Navigating College Financing
Explore different options for financing your college education, including work-study programs, family assistance, college savings plans, scholarships, grants, military and community service, student loans, income share agreements, and more. Understand the responsibilities and risks associated with different financing options and seek help from the DFPI for questions or complaints regarding student loan providers.
DFPI Launches Sweep of Investment Fraud Claiming Ties to Artificial Intelligence
The California Department of Financial Protection and Innovation (DFPI) announced today it has issued desist and refrain orders against five entities to stop fraudulent investment schemes tied to artificial intelligence (AI)
AI Investment Scams are Here, and You’re the Target!
AI investment scams are rising, exploiting the hype around artificial intelligence to trick investors. Fraudsters use AI-generated content and voice cloning to deceive, promoting fake opportunities on online platforms. Protect yourself by being cautious with AI-based investments, avoiding Ponzi and pyramid schemes, and verifying the legitimacy of financial service providers through the DFPI.