California Department of Financial Protection and Innovation

We are excited to launch the California Coalition for Financial Empowerment in Fresno and surrounding areas! This coalition brings together government agencies, financial institutions, nonprofit organizations, and community leaders to develop and implement collective solutions to consumer financial protection and inclusion challenges. We will kick off our efforts with the launch of the Central San Joaquin Valley Coalition on Dec. 5 at the U.S. Small Business Administration Fresno Office. In partnership with the Federal Deposit Insurance Corporation (FDIC) and other organizations, we will introduce the coalition, discuss regional needs, and initiate working groups focused on key areas. Learn more about the Coalition and register to attend the event: https://hubs.li/Q02XBWt90

Today, we’re announcing we’ve revoked crypto lender BlockFi’s California Financing Law (CFL) license. BlockFi, which filed for bankruptcy in 2022 after the FTX collapse, has agreed to a settlement that includes a revocation of its license and a cease-and-desist from harmful practices. How did BlockFi violate the CFL? • Failing to consider borrowers’ ability to repay loans • Charging interest before loan proceeds were disbursed • Failing to provide credit counseling and reporting to credit bureaus • Misleading annual percentage rates (APRs) in loan documents “Companies must comply with laws and protect consumers to continue doing business in California.” – DFPI Commissioner Clothilde V. Hewlett If you’ve been affected, file a complaint at https://hubs.li/Q02XsJYM0 or call (866) 275-2677. More: https://hubs.li/Q02XsMpS0 #BlockFi #CryptoNews #ConsumerProtection

Nothing fills me with more hope for the future than meeting with extraordinary students at the University of California, Berkeley. Thank you to the The Consumer Advocacy and Protection Society and the Law Students of African Descent for inviting me to your fireside chat and Q&A session at the University of California, Berkeley - School of Law. You are our shining stars. We are in good hands with you as the leaders and change-makers of the future, and hope you’ll consider a career with the California Department of Financial Protection and Innovation where we protect consumers in the financial marketplace while fostering responsible innovation. Rich Lyons | Cal Alumni Association | UC Berkeley

CRYPTO SCAM ALERT: Trage Technologies Due to fraudulent activities, we’ve issued a desist and refrain order against Trage Technologies. If you or someone you know has invested in Trage Tech, submit a complaint to us. Learn more: https://lnkd.in/g6kE-Gkx.

In today’s digital world, scammers use technology to access your personal data. They want your data for identity theft, financial blackmail, or to improve their email attacks. Protect yourself by minimizing your digital footprint. Follow these tips: https://hubs.li/Q02WSH7_0.

🚨Attention CA borrowers! Join us for the #StudentDebt webinar on Oct 29. Learn how to review your loans, access forgiveness programs, and take control of your financial future. Register today: https://lnkd.in/g5RVSMka

Looking for an exciting new career opportunity? Join our team in one of these diverse roles in Sacramento and beyond: • Senior Accounting Officer Salary: $70,260 to $87,924 Apply by: Oct. 23 • Business Service Assistant Salary: $41,448 to $63,408 Apply by: Oct. 24 • Financial Institutions Examiner Salary: $57,408 to $111,840 Apply by: Oct. 25 • Senior Information Security Officer Salary: $100,488 to $134,640 Apply by: Oct. 29 • Deputy Commissioner, Digital Financial Assets Law Division Locations: Sacramento, SF, LA, or SD Salary: $141,336 to $168,384 Apply by: Nov. 1 We offer comprehensive benefits and a rewarding work environment. Ready to take the next step? Apply today: https://hubs.li/Q02VqwKb0. #DFPI #Work4CA

The DFPI continues to lead the way in protecting Californians and their financial well-being. Beginning February 2025, new regulations will ensure even more protections under the California Consumer Financial Protection Law (CCFPL). What’s affected? • Debt Settlement Services • Student Debt Relief Services • Private Postsecondary Education Financing • Income-Based Advances (also known as “earned wage access”) Providers of these services will be required to register with us, ensuring greater oversight and safeguards against unfair practices. Learn more: https://hubs.li/Q02VlFnJ0.

🎉 Our Outreach Specialist, Alex, had a fantastic time earlier this week at the Guelaguetza event in Madera. Hosted by Comité Guelaguetza Madera, this vibrant celebration showcased the rich traditions, music, and cuisine of Oaxaca. Alex loved connecting with families about DFPI resources and tips for fraud prevention. With over 2,000 attendees, it was a great day honoring culture and community! 🌟 We engage with communities at numerous events each week across the state. Find us and come say hello! See where we’ll be next: https://hubs.li/Q02TW4XJ0.

Interested in regulating crypto assets? Join our team as a Deputy Commissioner in our Digital Financial Assets Law (DFAL) Division. In this role, you’ll oversee regulatory compliance for digital financial assets, provide consumer and investor protection, and foster innovation. Salary: $141,336 – 168,384 Apply by Nov. 1: https://hubs.li/Q02Tl_PC0.