Press Releases
DFPI Suspends SALT Lending LLC’s Financing License Pending Investigation
The Department of Financial Protection and Innovation today announced that Commissioner Clothilde V. Hewlett issued an Order suspending SALT Lending LLC’s California Financing Law license for 30 days pending the DFPI’s investigation.
DFPI Suspends BlockFi’s Financing License Pending Investigation
The Department of Financial Protection and Innovation announced today that Commissioner Clothilde V. Hewlett issued an Order suspending BlockFi’s California Financing Law license for 30 days pending the DFPI’s investigation.
DFPI Moves to Suspend SALT Lending LLC’s License
The DFPI has issued a notice to suspend SALT Lending LLC’s California Financing Law license for 30 days pending the Department’s investigation into SALT’s recent announcement to limit its platform activity including pausing client withdrawals.
DFPI Moves to Suspend BlockFi’s Lending License, Confirms BlockFi No Longer Lending in California
The DFPI has issued a notice to suspend BlockFi Lending LLC’s California Financing Law lender license for 30 days pending the Department’s investigation into BlockFi’s recent announcement to limit its platform activity including pausing client withdrawals.
DFPI Announces Investigation Into Crypto Asset Platform FTX
The Department of Financial Protection and Innovation (DFPI) is investigating the apparent failure of crypto asset platform FTX.
DFPI Launches Crackdown on Crypto Asset-Fueled Ponzi and Pyramid Schemes
The Department of Financial Protection and Innovation (DFPI) announced today that it has issued desist and refrain orders against 11 different entities for violations of California securities laws.
DFPI Joins Other State Securities Regulators To Bring Actions Against Another Crypto Interest Account Provider
The California Department of Financial Protection and Innovation (DFPI) announced today it has joined seven state securities regulators to bring actions against the Nexo Group (Nexo) in connection with its Earn Interest Product accounts.
California Department of Financial Protection and Innovation and Federal Trade Commission Sue to Halt Los Angeles-based Mortgage Relief Scam
A federal court today unsealed a joint complaint by the California Department of Financial Protection and Innovation (DFPI) and the Federal Trade Commission (FTC) against a recidivist mortgage assistance relief scam.
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 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.
California DFPI Hosts Webinar to Help Student Loan Borrowers
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.