August 2025

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Paying for higher education, trade schools, and apprenticeships

Follow this guide to help manage the high costs of education.

Events

We explore a new topic every month in our consumer financial education webinars and attend in-person community events each week.

Know Your Rights and Get Help with Debt Collection

Sept. 3: 12 – 1 p.m.

Learn how to become empowered and confident with debt collection. This session will explain your rights under the Fair Debt Collection Practices Act (FDCPA) and how to get help from the DFPI.

Upcoming Community Events

Aug. 29: Labor Rights Week – Mexican Consulate | Sacramento
Aug. 30: Financial Education Workshop | Long Beach
Sept. 10: Senior Scam Stopper w/Sen. Angelique Ashby (SD08) | Sacramento

DFPI News & Updates

European Parliament Visit – On Jul. 23, we hosted a delegation from the European Parliament Committee on Economic and Monetary Affairs (ECON) to discuss common trends and challenges we see as financial regulators.

Congratulations DFPI Commissioner KC Mohseni whose confirmation now moves to a full vote of the Senate after being approved by the Senate Rules Committee in an Aug. 20 hearing. DFPI is the nation’s leading financial consumer protection agency and Commissioner Mohseni is the right person to lead our efforts.

Consumer Alerts & Enforcement Actions

Caliber Home Loans settlement – We announced a settlement with Texas-based mortgage lender and servicer Caliber Home Loans, Inc. following findings that the company overcharged thousands of California borrowers and violated state financial regulations. Caliber has agreed to pay $1.8 million in penalties and has refunded more than $550,000 to impacted Californians.

Crypto Desist and Refrain Orders – We issued desist and refrain orders against five companies: Fintoch, Shao Bank, Beonbit, Optimus VIP, and Crypto Wealth Coach (CWC) for operating various crypto schemes, including unregistered High-Yield Investment Programs (HYIPs) and unlawful financial advisory services. These entities misled investors, falsely promised daily returns, and targeted Californians online through Multi-Level Marketing (MLM) promotions. Before you invest, check our Crypto Scam Tracker.

In 2024, adults 60 and over reported losing millions to imposter scams, a more than four times increase since 2020. These scams generally involve scammers contacting consumers pretending to be from trusted government agencies and businesses to alert them of a fake and urgent problem. Then, they proceed to persuade them to transfer their money to protect it, when in reality they want to steal it. While younger consumers also report these scams, older adults were much more likely to report high losses, sometimes more than $100,000. Learn more about how scammers are stealing older adults’ life savings from the Federal Trade Commission.