Department of Financial Protection and Innovation

featured graphic for DFPI California Department of Financial Protection and Innovation after COVID-19

A year after implementing one of the most expansive consumer protection laws in the country, the Department of Financial Protection and Innovation (DFPI) announced it has collected close to $1 million in restitution for consumers, fielded hundreds of additional complaints related to the law, and launched more than 100 investigations …continue reading

featured graphic for DFPI California Department of Financial Protection and Innovation after COVID-19

Following the rapidly evolving situation in Ukraine and Russia, DFPI Commissioner Cloey Hewlett issued a guidance to banks, credit unions, money transmitters, and others on March 4 reminding financial institutions to follow state and federal regulations and be mindful of an elevated cybersecurity risk. All financial institutions licensed by the …continue reading

featured graphic for DFPI California Department of Financial Protection and Innovation after COVID-19

Following the announcement of $1 billion in funding from the U.S. Treasury, California homeowners who have fallen behind on home payments can now apply for a grant to repay missed mortgage payments or reverse mortgage arrearages during the COVID-19 pandemic. Information on eligibility requirements and how to apply are available …continue reading

featured graphic for DFPI California Department of Financial Protection and Innovation after COVID-19

On January 10, Governor Newsom proposed a state budget that provides the Department of Financial Protection and Innovation (DFPI) with the necessary resources to continue our important work under the California Consumer Financial Protection Law, while providing additional funding for increased workload and the implementation of new laws. The proposed …continue reading

featured graphic for DFPI California Department of Financial Protection and Innovation after COVID-19

As some pandemic foreclosure protections end, the Department of Financial Protection and Innovation (DFPI) is working to avoid a repeat of the 2008 foreclosure crisis by making sure that licensees servicing residential mortgages comply with state and federal laws protecting homeowners from COVID-19-related financial insecurity and inform eligible consumers about …continue reading

featured graphic for DFPI California Department of Financial Protection and Innovation during COVID-19

The Department of Financial Protection and Innovation (DFPI) permanently barred James Jacob Berry and any company he owns or controls from seeking future enrollment as a PACE solicitor’s agent or PACE solicitor, after finding that Berry and his three companies misled consumers by marketing their product as a “no-cost” government-funded …continue reading

featured graphic for DFPI California Department of Financial Protection and Innovation during COVID-19

With the new California Consumer Financial Protection Law now in effect, the Department of Financial Protection and Innovation (DFPI) will exercise expanded powers to better protect consumers from unlawful, unfair, deceptive, and abusive practices. Beginning immediately, the DFPI will review and investigate consumer complaints against previously unregulated financial products and …continue reading

featured graphic for DFPI California Department of Financial Protection and Innovation during COVID-19

The Department of Financial Protection and Innovation (DFPI) has helped 22 California homeowners receive financial reimbursements and remove property tax liens after Encino-based Eco Tech, a solicitor for the Property Assessed Clean Energy (PACE), signed customers up for the program without their knowledge. The liens, averaging between $20,000 and $30,000, …continue reading