DFPI News
Investor Alert: False Crypto Bankruptcy Website
The DFPI has been notified that a person falsely claiming to be the CEO of Voyager Digital is sending letters directing consumers to access a website not affiliated with the Voyager Digital.
DFPI Joins CFPB, Multiple States In Action Against Prehired for Illegal Student Lending Practices
The DFPI announced today that it has joined the Consumer Financial Protection Bureau and 10 state attorneys general in filing a complaint against Prehired, LLC and its related entities for violations of the Consumer Financial Protection Act of 2010.
California Joins Multi-State $12.4 Million Settlement with Broker-Dealer Raymond James
The DFPI announced today it has joined a multi-state settlement with Raymond James & Associates, Inc. and Raymond James Financial Services, Inc..
DFPI Orders CryptoFX LLC to Halt Operations, Citing Violations of California Securities Law
The DFPI announced today that it has issued a desist and refrain order against CryptoFX LLC (CryptoFX) and two of its promoters for violating California securities laws by offering and selling unqualified securities and making material misrepresentations and omissions to investors.
Watch Out for Crypto Affinity Fraud
Affinity fraud is an investment scam that targets identifiable groups and communities with common ties such as ethnicity, religion, sexual orientation, military service, or age (seniors).
Beware of imposter claiming to be from the Department of Financial Protection and Innovation and asking for upfront fees to access a crypto asset “Cold Wallet”
The DFPI has been notified that an entity is contacting members of the public as part of a scam whereby the scammers claim the DFPI and CSA have control of the victim’s crypto asset “cold wallet,” and demanding upfront fees in order to release the funds.
June 2023 DFPI Consumer Connection
- Homebuyers Guide to Navigating a Sellers’ Market
- Annual Report of Activity Under the California Consumer Financial Protection Law
- Smart Ways to Save for Large Purchases
Website www.rebeccafitzgeraldcassar.com is Fraudulently Posing as a California-licensed Investment Adviser
The California Department of Financial Protection and Innovation (DFPI) has received information that the website www.rebeccafitzgeraldcassar.com is fraudulently marketing itself as a licensed Investment Adviser.
June 2023 Monthly Bulletin
- Annual Report Shows Continued Success with Consumer Protection Law
- DFPI Action Against Crypto Exchange Platform Coinbase
- DFPI Debt Collector Enforcement Sweep
May 2023 Monthly Summary of Financial Institution Pending Applications
Summary of Pending Applications as of May 2023 (PDF) is available.
DFPI Reports Continuing Success in Implementation of California Consumer Financial Protection Law
The DFPI announced today it has made significant progress growing its reach and impact in key areas affecting California consumers, two years into implementing one of the most expansive consumer financial protection laws in the nation.
Smart Ways to Save for Large Purchases
This guide provides a range of smart saving tips to help you boost your financial health. It covers everything from identifying big purchases, paying yourself first, setting attainable SMART goals, to adopting the 50/20/30 rule for budgeting. Plus, it offers insights on opening a high-interest savings account and leveraging technology for better savings.
Homebuyers Guide to Navigating a Sellers’ Market
In the hot California real estate market, homebuyers face unique challenges such as intense competition and the “rate lock-in effect.” This guide provides vital insights and tips to navigate this complex sellers’ market. It covers crucial considerations from making an informed offer, securing financing, carrying out home inspections, to choosing between online and brick-and-mortar lenders.
DFPI Issues Action Against Coinbase Citing Staking Rewards Program Violates Securities Law
The DFPI announced today that it has issued an action against Coinbase Global, Inc. and Coinbase, Inc. for violations of securities laws and corresponding penalties in connection with Coinbase’s staking rewards program.
DFPI Continues Enforcement Sweep Against Unscrupulous Debt Collectors
The DFPI announced today that it has issued enforcement actions against three entities for unlicensed debt collection activity under the Debt Collection Licensing Act (DCLA) and unlawful, unfair, deceptive, or abusive acts or practices in violation of the California Consumer Financial Protection Law (CCFPL).