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For the full version of this newsletter, visit our website.
We Wish You a Joyful and Financially Sound Holiday Season!
As we approach the year-end, let's celebrate the moments that matter most. Happy Holidays from all of us! |
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Meet DFPI’s New General Counsel
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Governor Newsom announced on November 21, 2025, the appointment of Claudia Quiroz as the new General Counsel for the DFPI. Read more. |
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Enhanced Consumer Protection
On January 1, 2026, a new law, SB 825 will go into effect that helps to strengthen protection for California consumers. Read more.
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Help for Small Businesses – Transparency in Lending
And there is another new law that takes effect on January 1, 2026. This one can help small businesses better understand the true cost of a loan. Read more.
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Fake Websites Posing as CA licensees
We recently posted two Consumer Alerts about fake websites.
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Four websites are falsely representing themselves as All Points Escrow Inc., a legitimate California-licensed escrow company.
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A copycat website is fraudulently marketing itself as being affiliated with Lisa M. Roth, a California-licensed investment adviser.
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DFPI Takes Legal Action Against Apoyo Financiero
We ordered Apoyo Financiero, Inc. to pay a hefty $1 million penalty for illegally overcharging customers. Additionally, the Concord-based company will pay back more than $218-thousand to customers and stop collecting charges above the legal limit. The company claims on its website to market its services to the underbanked community in the San Francisco Bay Area. Este artículo también está disponible en español.
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Some Escrow Annual Reports Due December 15
Escrow agents are required to submit to the DFPI 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. If your fiscal year ended on August 31, 2025, your annual report is due by December 15, 2025. Read more.
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Banks Must Submit Lists of Offices by Dec. 31
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According to Financial Code section 1077, all commercial banks, industrial banks and trust companies are required to file a list of all offices currently maintained and operated by the bank on or before Dec. 31, 2025. Read more. |
Reminder: Banks and Credit Unions to Report Fee Income from NSF and Overdraft Charges
Financial Code section 521 requires state-chartered banks and credit unions to report annually to the Department of Financial Protection and Innovation (DFPI) the revenue they received from fees on nonsufficient funds and overdraft charges during the calendar year. These reports are due by Monday, March 2, 2026. Read more. |
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Updates for Financial Institutions with Attorney Client Trust Accounts
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On September 12, 2024, Governor Gavin Newsom signed into law AB 3279, which imposes certain requirements on financial institutions starting in January 2026 relating to client trust accounts, including both Interest on Lawyers’ Trust Accounts (“IOLTA”) and non-IOLTA trust accounts, maintained by a licensee of the State Bar of California. Read more. |
Digital Financial Assets Law – Licensing Deadline July 1, 2026
If you engage in digital financial business activity with or on behalf of a California resident and are not otherwise exempt, you will need to submit a Digital Financial Assets Law (DFAL) license application by July 1, 2026. Read more. |
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2025 Annual Registration and NMLS Renewal Fees Due December 31, 2025
CCFPL 2025 Commercial Financing Annual Report Due March 15, 2026
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According to regulations effective October 1, 2023, if you are engaged in the business of offering or providing commercial financing or another financial product or service to a small business, nonprofit, or family farm, you are required to file an annual report with the Commissioner of the DFPI by March 15, 2026. Read more.
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PRO 05-21 – Invitation for Comments – Debt Collection Licensing Act (DCLA) by December 12, 2025
On August 29, 2021, the DFPI sought comments on this potential rulemaking. On July 15, 2022, the Commissioner released a draft text related to the scope, annual report, and document retention requirements of the DCLA for public comment, prior to the initiation of formal rulemaking. On November 9, 2023, the Commissioner released a second draft text for comment. The Commissioner has again made changes to the draft text and is now releasing it for a third round of prefiling public comment. Read more. |
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Debt Collection Licensing Act (DCLA) – Annual Assessment Due January 1, 2026
2026 Renewal Program Calendar for Broker-Dealers and Investment Advisers
DFPI MLO Renewal Requirements
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The Department of Financial Protection and Innovation (DFPI) would like to remind you that the NMLS Annual Renewal Period for Mortgage Loan Originators (MLO) began on November 1, 2025, and will end on December 31, 2025. All licenses that have an approved or approved-equivalent status between January 1st and October 31st of the current year (2025) are subject to the renewal process. Read more. |
Every month we educate consumers through community events and a monthly webinar.
Protect Yourself from Tax Scams Webinar
Jan. 7, 1 – 2 p.m.
Tax season is prime time for scammers trying to steal your tax return and sensitive information. From aggressive phone calls demanding tax payments to sophisticated email phishing campaigns, these tactics are constantly evolving and becoming more convincing. Join this webinar to empower yourself with the knowledge to stay safe and secure this tax season.
Register here.
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In November, several financial institutions underwent regulatory activity in California. See the links below for more information.
Credit Union Activity
Foreign (Other Nation) Bank Activity
Foreign (Other State) Credit Union Activity
Premium Finance Company Activity
Money Transmitter Activity
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