Download this press release (PDF) SACRAMENTO – 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 …
Download this press release (PDF) SACRAMENTO – 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 …
Download this press release (PDF) SACRAMENTO – 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 …
Download this press release (PDF) SACRAMENTO – 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 …
The California Department of Financial Protection and Innovation (DFPI) has received information that Sanjeev Kumar is fraudulently marketing himself through social media as a Senior Loan Officer under NMLS# 314126. In fact, the NMLS unique identifier …
The DFPI has selected Sophia Smith as new Deputy Commissioner of Administration. She started on Sept. 7, and she will be based out of the Sacramento Office. Smith has over 26 years of experience working for the California Department of Motor Vehicles (DMV …
Biden Administration Announces Student Debt Relief Plan On Aug. 24, the Biden Administration announced an historic Student Debt Relief Plan to provide widespread debt cancellation for people with federal student loans. The plan will: Cancel up to $10,000 …
The California Department of Financial Protection and Innovation (DFPI) has received a complaint from a California resident regarding a crypto asset scam. The victim told the DFPI he received a call from a man stating he worked for fraud department at …
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In celebration of Latino Heritage Month (September 15 to October 15), also known as National Hispanic Heritage Month, the DFPI recognizes the work of our Spanish language and Latino community outreach partners. These statewide community-based organizations …
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The California Department of Financial Protection and Innovation (DFPI) received a complaint from a foreign national that Escrow Spectrum, Inc., through its website https://esc-spectrum.com/ handled cryptocurrency escrow transactions, resulting in a $150, …
On August 19, 2022, the DFPI issued a notice to Celsius Lending LLC that the DFPI intends to revoke its California Financing Law lender’s license and has immediately suspended its license pending resolution of the revocation action. As a result of a still- …
High returns, low risk If the returns sound too good to be true, they probably are. HYIPs often promise low risk and very high returns on an annual, monthly, weekly, or daily basis. Overly consistent returns Investments tend to go up and down over time. …
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On July 28, the DFPI sent a voluntary survey to all DFPI-licensed banks, credit unions, and trust companies relating to the use of blockchain technologies and the offering of crypto asset-related financial products and services. The survey asks licensees …
On August 8, 2022, the DFPI issued an order finding that Celsius Network and its CEO, Alex Mashinsky, made material misrepresentations and omissions in the offer of crypto interest accounts, particularly in understating the risks of depositing digital …
The DFPI has entered a settlement with Florida-based point-of-sale lender Four Technologies, Inc., in which the company has agreed to stop making loans, pay $2,500 in penalties, get a license, and refund $13,065 in illegal fees. These refunds represent …
DFPI & AARP Host New Webinar Series for Senior Citizens Day On August 19, 1988, President Ronald Reagan signed Proclamation 5847 declaring August 21 as National Senior Citizens Day to raise awareness about issues that affect senior citizens and their …
The Department has seen an increase in complaints involving fake debt collectors attempting to collect on false debts. We have provided some simple steps to avoid falling victim to a debt collection scam. How Debt Collection Scams Work Fake debt collectors …
