Press Releases
Los Angeles-based Rent-to-Own Furniture Startup Agrees to Refund Overcharges and Comply with Consumer Protection Laws
In its first action against a rent-to-own firm violating the California Consumer Financial Protection Law (CCFPL), the DFPI today finalized a settlement with Los Angeles-based rent-to-own furniture provider Fernished, Inc., doing business as Fernish.
DFPI Efforts Spur Participation in Mortgage Relief Program Funded by U.S. Treasury
Following the announcement from Gov. Gavin Newsom of the approval by the U.S. Treasury to provide $1 billion in mortgage relief grants to homeowners, the DFPI highlights efforts that spurred participation in the program and helped forge a national model to protect homeowners impacted by the COVID-19 pandemic.
DFPI Reaches Agreement to End High-Interest Rate Loans Marketed by LoanMart for 21 Months
The California Department of Financial Protection and Innovation (DFPI) today announced it reached an agreement with Los Angeles-based LoanMart that prohibits the company from marketing or servicing automobile title loans with rates greater than 36 percent in California.
DFPI Report Shows Changes in Consumer Lending, Decrease in PACE Program
The 2020 annual report for the California Financing Law released today shows a change in consumer behavior likely impacted by a number of factors, including the global COVID-19 pandemic.
DFPI Sanctions Debt Collector in First Action Under the California Consumer Financial Protection Law
The DFPI today issued its first enforcement action against a debt collector and debt buyer.
DFPI Awards Nearly $2 Million in Grants for Financial Education and Empowerment Programs
The DFPI today announced the award of nearly $2 million in CalMoneySmart grants to nonprofit organizations throughout California.
DFPI Moves to Protect California Homeowners with Mandatory Reporting Requirements for Mortgage Servicers
With homeowners facing the possibility of foreclosure, state financial regulator launches review of mortgage servicers while educating consumers on their options.
State Financial Regulator Moves Forward to License California Debt Collectors
Debt collectors, debt buyers, and debt collection attorneys operating in the state may now submit their license applications online at the Nationwide Multistate Licensing System (NMLS).
California DFPI Requires Student Loan Debt-Relief Company to Pay More Than $1 Million in Penalties, Restitution
The DFPI today announced it is requiring a Tustin-based student loan debt-relief company, Amerifed Doc Prep LLC, to pay penalties and refunds totaling more than $1.37 million.
California DFPI Enters Groundbreaking Consent Order with NY-Based Income Share Agreements Servicer
The California Department of Financial Protection and Innovation (DFPI) today announced it had signed a landmark agreement with New York-based Meratas, Inc.. Read more …
DFPI Report Shows Mortgage Lending Increases, Foreclosure Declines During COVID-19 Pandemic
A new report shows nonbank residential mortgage loans doubled from 2019 to 2020 as more Californians refinanced or obtained new loans in response to lower interest rates.
DFPI Report Shows California Payday Loan Activity Significantly Declines Amid Pandemic
During an historic pandemic, California’s payday lenders made fewer than 6.1 million loans in 2020, representing a 40 percent decline in loans from 2019. Read more …
Press Release Contact
Contact:
Mark Leyes
Mark.Leyes@dfpi.ca.gov
Maria Luisa Cesar
marialuisa.cesar@dfpi.ca.gov
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