RockItCoin Crypto Kiosk Violation – We ordered crypto kiosk operator RockItCoin to return $202,000 to California customers who were overcharged and to pay a $75,000 penalty. 

Nexo Capital Inc. Settlement – We announced a settlement with Nexo Capital Inc. (Nexo), a company offering crypto-backed loans and services. The company will pay $500,000 in penalties for making loans to California residents without a valid license. A DFPI investigation discovered that Nexo offered consumer and commercial loans to at least 5,456 Californians without first considering their ability to make repayments.

Financial Code section 521 requires state-chartered banks and credit unions to report annually to the DFPI the revenue they received from fees on nonsufficient funds (NSF) and overdraft charges during the calendar year. These reports are due by Monday, March 2, 2026, and will be published on our website by March 31.

Please refer to the FAQs or contact Marilyn Davis at marilyn.davis@dfpi.ca.gov (banks) or Kim-Phuong Hoang at kim-phuong.hoang@dfpi.ca.gov (credit unions) for more information.

The DFPI has issued a second invitation for comments on proposed rulemaking under potential regulations under the California Consumer Financial Protection Law (CCFPL). Comments are due by February 26, 2026. View more.

All licensees under the Debt Collection Licensing Act (DCLA) that were licensed before January 1, 2026, must submit an annual report by March 16, 2026, per Financial Code section 100021(a). For questions about the content of the Report or clarification on the instructions, please email DCLA.Inquiries@dfpi.ca.gov.

The DFPI is reminding debt collectors that serving a summons electronically is not allowed in California. The Code of Civil Procedure only permits four specific, in-person methods of service (See Code Civ. Proc., § 415.10 et seq.), and getting a consumer to “consent” to email service does not meet a licensee’s service of summons obligation.

Licensees found to be engaged in, or hired others, to engage in the unlawful service of process will be held accountable. Read the full details on our Debt Collectors page.

To ensure clarity for all escrow licensees, the DFPI is providing additional explanation regarding the timing of the new annual Escrow assessment rate. The DFPI’s fiscal year runs from July 1 through June 30. See full details.

A reminder that all escrow agents licensed before Jan. 1, 2026 must submit an Annual Liability Report to the DFPI. The form to submit this report is available on the DFPI’s website.

A DFPI portal account is required to submit the report. To register for a portal account, go to the DFPI’s website. Licensees are strongly encouraged to begin gathering the data to ensure they can timely file the Annual Liability Report. Missing the deadline may result in monetary penalties according to Financial Code section 17408. For questions, please email ESCLiabilityReportFiling@dfpi.ca.gov.

• Each year an investment adviser (IA) must file an annual updating amendment to Form ADV [Section 260.241.4]. This amendment should be filed with IARD within 90 days of the firm’s fiscal year end. Firms must also amend Form ADV (Parts 1 and 2) whenever the information in Form ADV becomes inaccurate. Please refer to Form ADV General Instructions, Item 4 for further clarification. It is important that Form ADV contains current and accurate information including a current e-mail address. The DFPI uses this e-mail address to keep you informed of current issues and developments.
• If an investment adviser (IA) is subject to the minimum financial requirements (Section 260.237.2), the firm must file with the DFPI Commissioner, not more than 90 days after the firm’s year-end, an annual financial report that reflects the firm’s financial condition. View more details.