2016 Press Releases

Court Bolsters Test to Decide When Private Firms Entitled to Tribal Immunity Download this press release (PDF) SACRAMENTO – The California Department of Business Oversight (DBO) today won a State Supreme Court decision in a landmark case involving the...

More Than 60% in Zip Codes with Higher Family Poverty Rates than State Figure Download this press release (PDF) SACRAMENTO – The California Department of Business Oversight (DBO) today released a research brief that shows payday loan storefronts are...

Deal Includes Refunds for Hundreds of Borrowers, Penalties Download this press release (PDF) SACRAMENTO – The Department of Business Oversight (DBO) today announced a settlement with PrimeLending that requires the mortgage lender to pay more than...

Firm Charged Thousands of Borrowers Unlawful Fees and Rates Download this press release (PDF) SACRAMENTO – The California Department of Business Oversight (DBO) today signed a settlement with Flurish, Inc. (LendUp) that requires the firm to pay $2.68...

Number of Loans Up 47%; Principal Grew 57% Download this press release (PDF) SACRAMENTO – Mortgage lending by non-banks in California increased substantially in 2015, measured both in volume and principal amount, according to a report released today by the...

DBO Report Shows Repeat Customers’ Prominence in Sector Download this press release (PDF) SACRAMENTO – The number of California payday loan customers who made 10 transactions in 2015 outnumbered those who made just one, according to...

Most Loans Between $2,500 and $5,000 Had 100%-Plus APRs Download this press release (PDF) SACRAMENTO – The combined dollar amount of installment consumer loans made by non-banks in California grew almost 50 percent in 2015, while most borrowers in the...

Total Dollar Amount, Volume Top 2013 Levels; Average Size and APR Fall Download this press release (PDF) SACRAMENTO – Financing provided to California consumers and small business by 13 major online lenders increased by 936% from 2010-2014, to $2.3...