Press Releases

The DFPI is conducting a comprehensive review of the department’s oversight and regulation of Silicon Valley Bank and will issue a report by early May 2023.

The deposits made today into California-chartered First Republic Bank by 11 large banks underscores the importance of regional banks in our banking system. Regional banks provide vital banking services relied upon by communities across California.

The DFPI announced today that it has taken possession of Silicon Valley Bank, citing inadequate liquidity and insolvency, and has appointed the Federal Deposit Insurance Corporation (FDIC) as receiver of Silicon Valley Bank.

The California Department of Financial Protection and Innovation announced today that its licensee, Silvergate Bank, has voluntarily begun the process of liquidation.

The DFPI announced today that it entered into a Consent Order with an unlicensed Orange County student debt relief company, EDU Doc Support, LLC (EDU) and its owner, Hau H. Nguyen (Nguyen).

The Department of Financial Protection and Innovation (DFPI) announced today that it has launched the DFPI Crypto Scam Tracker to help Californians spot and avoid crypto scams.

The DFPI announced today that it has issued enforcement actions against multiple debt collectors for unlicensed activity under the Debt Collection Licensing Act (DCLA) and unlawful and deceptive acts or practices in violation of the California Consumer Financial Protection Law (CCFPL).

The DFPI announced today it has entered into a settlement agreement with Nexo Capital Inc. (Nexo) to resolve the DFPI’s September 26, 2022 securities enforcement action in connection with Nexo’s Earn Interest Product program.