The DFPI today announced the award of nearly $2 million in CalMoneySmart grants to nonprofit organizations throughout California to support free financial education and empowerment programs, including web and classroom-based content and individualized coaching, for unbanked and underbanked consumers.
DFPI’s Commercial Financing Disclosure Regulations Approved to Become Effective as of December 9, 2022
On June 9, 2022, the California Office of Administrative Law (OAL) approved the Department of Financial Protection and Innovation’s (DFPI) proposed commercial financing disclosure regulations.
DFPI Seeks Public Comment on Oversight of Crypto Asset-Related Financial Products and Services Under the California Consumer Financial Protection Law
Governor Gavin Newsom issued Executive Order N-9-22 (Executive Order) on May 4, 2022, to foster responsible innovation, bolster California’s innovation economy, and protect consumers.
The DFPI is working with state and federal agencies as well as local nonprofits to educate student loan borrowers about their rights and upcoming federal deadlines, including the Public Service Loan Forgiveness Waiver that expires on Oct. 31, 2022.
The DFPI announced it has collected close to $1 million in restitution for consumers, fielded hundreds of additional complaints related to the law, and launched more than 100 investigations using its expanded authority under the California Consumer Financial Protection Law (CCFPL).
Are you our Next Grantee? The DFPI Begins Accepting Applications for up to $200,000 CalMoneySmart Grants
The DFPI is now accepting applications for its CalMoneySmart Grant Program, which will award a total of $2 million this year to nonprofits providing free financial empowerment programs for unbanked and underbanked consumers in California.
As part of a nationwide effort, the DFPI, in partnership with the federal Commodity Futures Trading Commission (CFTC) and 26 other state regulators, filed a federal lawsuit against a precious metals dealer and its owner for perpetrating a $68 million fraudulent scheme that targeted the elderly.
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.
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.
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