
Press Releases
DFPI Moves to Halt $11.8 Million Stockton-Based Securities Fraud Targeting Tongan Community
The DFPI announced today that it has ordered Tilila Siola’a Walker-Sumchai of Stockton, California, and four entities under her control to desist and refrain from an alleged securities fraud scheme targeting Tongan communities across California.
DFPI Launches $7.25 Million Grant Program to Support Californians with Student Loans
The DFPI announced today the launch of the Student Loan Empowerment (SLE) Project, a new $7.25 million grant program that will support nonprofit organizations delivering education, counseling, and legal assistance programs for Californians with student loans.
DFPI Awards Nearly $2 Million in Grants for Financial Education and Empowerment Programs
DFPI announced nearly $2 million in CalMoneySmart grants to 15 nonprofit organizations across California, expanding the reach of the program to 28 counties, the largest number to date.
DFPI Continues Actions To Protect Investors from Crypto Scams
The Commissioner of the DFPI announced today that she has issued desist and refrain orders against three different entities for violations of California securities laws.
California Joins Multi-State Group to Recoup Overcharges for Investors in Commodity Firm Lear Capital Bankruptcy
The DFPI announced today that investors that purchased retail precious metals from Los Angeles based Lear Capital, Inc. will receive compensation as a part of Lear’s bankruptcy plan.
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.
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.
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).
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.
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