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For the full version of this newsletter, please visit our website.
The Commissioner invites interested parties to submit comments by May 19, 2025. More.
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We announced an agreement with Southern California-based money transmitter Sigue Corporation for failure to meet outstanding liabilities following its collapse in March 2024. More.
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The California 175 campaign launched March 30. It celebrates California’s dodransbicentennial – its 175th year of statehood and initiates an effort to commemorate the rich and full history of the Golden State — its people, its progress, and its promise — and invites Californians across all regions and backgrounds to take part in honoring the milestone. .
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Some Escrow Annual Reports Due Apr. 15
Escrow agents are required to submit to the Commissioner an annual report prepared by an independent certified public accountant (Financial Code section 17406) within 105 days after the close of the escrow agent’s fiscal year. The annual report includes audited financial statements and required supplemental information.
If your fiscal year ended on Dec. 31, 2024, your annual report is due Apr. 15, 2025. More.
Escrow Bulletin on Social Engineering Scams
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On Feb. 20, DFPI announced that Californians who deposited money or crypto with GSPartners are now eligible for a refund, thanks to DFPI. If you or someone you know has put funds into GSPartners, there’s still time to reclaim your funds. Submit a claim by May 22, 2025 at gsbsettlement.com.
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The DFPI has relocated our Sacramento offices as of March 10, 2025, to the new May Lee State Office Complex. Please save the following address to your records:
Department of Financial Protection and Innovation
May Lee State Office Complex
651 Bannon Street, Suite 300
Sacramento, CA 95811
To ensure mail is properly delivered to the Department, please use the new address.
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CFPB Offers Regulatory Relief for Small Loan Providers
The Consumer Financial Protection Bureau is announcing today that, with respect to the Payday, Vehicle Title, and Certain High-Cost Installment Loans Regulation, it will not prioritize enforcement or supervision actions with regard to any penalties or fines associated with the Payment Withdrawal provisions and the Payment Disclosure provisions once they became operative on March 30, 2025. More.
FDIC Clarifies Process for Banks to Engage in Crypto-Related Activities
On April 7, 2022, the FDIC issued a Financial Institution Letter (FIL-16-2022) titled Notification of Engaging in Crypto-Related Activities, which established a prior notification requirement for FDIC-supervised institutions that wish to engage in crypto-related activities. The FDIC is rescinding FIL-16-2022 and providing new guidance to clarify that FDIC-supervised institutions may engage in permissible crypto-related activities without receiving prior FDIC approval. More.
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Each month we educate consumers through community events and a monthly webinar.
April 23, 12 – 1 p.m. | Virtual
In celebration of Financial Literacy Month, we invite you to join us for an in-depth discussion on factors influencing your financial behaviors. More.
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In March, several financial institutions underwent regulatory activity in California. See the links below for more information.
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