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 …
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Commercial Bank Activity New Bank Icon Bank Proposed location: Street address to be determined in the vicinity of Riverside, Riverside County Correspondent: James B. Jones Carpenter & Company, 23 Corporate Plaza Drive, Suite 150 #D-11, Newport Beach, …
The California Department of Financial Protection and Innovation (DFPI) is investigating multiple companies nationwide that offer customers interest-bearing crypto asset accounts (commonly referred to as “crypto-interest accounts”). A crypto-interest …
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Download official copy (PDF) IN REPLY REFER TO: _________ FILE NO: _________ June 9, 2022 Sent by Email Dear Mr. ________: Thank you for your March 25 and May 23, 2022 letters to the Department of Financial Protection and Innovation (Department) and …
The California Department of Financial Protection and Innovation (DFPI) has received information that the website https://crockerwealthmanagement.com/ is fraudulently marketing itself as a licensed Investment Adviser. The imposter website, https:// …
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The California Department of Financial Protection and Innovation (DFPI) has received a complaint from a California resident regarding eth-event.co. A California resident told DFPI she met a person on social media who introduced her to a cryptocurrency …
The California Department of Financial Protection and Innovation (DFPI) has received a complaint from a California resident regarding cryptocurrency fraud. A California resident told DFPI he transferred $15,000 in Bitcoin to www.digitaltradezone.com after …
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