2020 Press Release

DFPI Joins $88 Million Multi-State Settlement with Nationstar Mortgage

December 7, 2020
The Department of Financial Protection and Innovation (DFPI) joins in a $88 million multi-state settlement with Nationstar Mortgage LLC. Read more…

Department of Financial Protection and Innovation Secures Reimbursements for Victims of Eco Tech PACE Fraud

November 2, 2020

SAN FRANCISCO – The Department of Financial Protection and Innovation (DFPI) has helped 22 California homeowners receive financial reimbursements and remove property tax liens …

Stronger Financial Protections on the way for California Consumers

September 25, 2020

With Governor Gavin Newsom’s signing of AB 1864, the California’s Department of Business Oversight (DBO) expands its authority as a premier financial regulator and national model for consumer protection…

Department of Business Oversight Sues to Stop $185 Million Coins Scam that Targeted Senior Citizens

September 25, 2020

Part of a nationwide enforcement action to disrupt a fraudulent precious metals scheme that preyed on the elderly, the California Department of Business Oversight (DBO) announced today…

DBO Awards Nearly $1 Million in Grants for Financial Education and Empowerment Programs

September 21, 2020

The California Department of Business Oversight (DBO) today announced the award of nearly $1 million in CalMoneySmart grants to 12 nonprofit organizations…

California PACE Contracts Exceeded $362 million in 2019

September 10, 2020

California’s residential PACE program executed 12,335 home improvement contracts worth more than $362 million in 2019…

Installment Consumer Lending by California Nonbanks Increased 68 percent in 2019

September 9, 2020

Installment consumer lending by nonbanks in California increased more than 68 percent, to more than $57 billion in 2019…

DBO Launches Investigation Into Possible Evasion of California’s New Interest Rate Caps By Prominent Auto Title Lender, LoanMart

September 3, 2020

The California Department of Business Oversight (DBO) today launched a formal investigation into whether prominent auto title lender Wheels Financial Group, LLC, which…

California Department of Business Oversight Sees Sharp Increase in Consumer Complaints and Inquiries Since COVID-19 Onset

July 29, 2020

The California Department of Business Oversight (DBO) has experienced a more than 40 percent increase in consumer complaints, calls and inquiries…

California Department of Business Oversight Files Order to Ban Encino Company from PACE Industry

May 27, 2020
The California Department of Business Oversight (DBO) today filed an order to ban from the Property Assessed Clean Energy (PACE) industry an Encino company that allegedly engaged in …

California Department of Business Oversight Launches $4 Million Grant Program to Fund Financial Education and Empowerment Programs

May 19, 2020
The California Department of Business Oversight (DBO) today announced the launch of CalMoneySmart, a new $4 million grant …

California Provides Expansion of Student Loan Relief: Most Private Loan Servicers Agree to Help

April 23, 2020
The California Department of Business Oversight (DBO) today announced that most private student loan servicers have agreed to provide…

Point-of-Sale Lender QuadPay Agrees to Cease Illegal Loans, Pay Refunds in Settlement with the California Department of Business Oversight

April 22, 2020
The California Department of Business Oversight (DBO) today announced a settlement with point-of-sale lender QuadPay …

Attorney General Becerra and Commissioner of Business Oversight Alvarez Issue Investor Alert About Investment Scams Related to COVID-19

April 7, 2020
California Attorney General Xavier Becerra and California Commissioner of Business Oversight Manuel P. Alvarez today issued an alert…

California Department of Business Oversight Sues Student Loan Servicer PHEAA/FedLoan

April 2, 2020
The Department of Business Oversight (DBO) has filed a lawsuit to force the nation’s second largest student loan servicer to comply with California’s law…

California Releases Guidance to Help Californians Experiencing Financial Hardship Because of COVID-19 Pandemic

March 23, 2020
Following Governor Gavin Newsom’s Executive Order to protect renters and homeowners, the Business, Consumer Services and Housing Agency (BCSH) and the Department of Business…

California publica pautas para ayudar a sus ciudadanos que sufren dificultades financieras debido a la pandemia COVID-19

March 23, 2020
En respuesta a la orden ejecutiva para proteger a propietarios y arrendatarios emitida por el gobernador Gavin Newsom, la Agencia de Negocios, Servicios al Consumidor y Vivienda…

Point-of-Sale Lender Afterpay Agrees to Cease Illegal Loans, Pay Refunds in Settlement with the California Department of Business Oversight

March 16, 2020
The DBO announced a settlement with point-of-sale lender Afterpay US, Inc. in which the company agreed to stop making illegal loans…

Point-of-Sale Lender Sezzle Agrees to Cease Illegal Loans, Pay Refunds in Settlement with the California Department of Business Oversight

Jan 16, 2020
The California Department of Business Oversight today announced a settlement with point-of-sale lender Sezzle…