We need your help! We want to know about your experiences with tech-enabled fraud. How were you targeted – via email, fake texts, or deceptive pop-ups? We also want to hear your ideas on how to stop this type of activity. Please take our quick survey and pass it on to others who may be interested.
From "invisible" data brokers to the constant threat of data breaches, your personal information is at risk of being collected and used in potentially harmful ways. Join this webinar to learn about the California Privacy Protection Agency’s (CPPA) new Delete Request and Opt-out Platform (DROP), which gives you more control over your data.
Learn the latest on federal student loans and vital borrower resources. Topics include borrower rights, repayment plans, new borrowing limits, Public Service Loan Forgiveness (PSLF), default management, and more.
Crypto Companies Will Soon Need a License to Operate in CA – California is rolling out new consumer protections for crypto users. By July 1, 2026, any individual or company offering crypto-related services to Californians must either hold a Digital Financial Assets Law (DFAL) license, have applied for a DFAL license, or be otherwise exempt from DFAL licensure. Read more about DFAL.
National Consumer Protection Week (Mar. 1-7) – Join the Federal Trade Commission (FTC) and its network partners to learn about your rights and how to avoid, report, and recover from scams and fraud. Find out more on the FTC website.
CalHFA Down Payment Assistance Loans (Feb. 24 - Mar. 16) – The application portal for the California Housing and Finance Agency (CalHFA) Dream for All Shared Appreciation Loan program is now open. For details, visit the CalHFA website.
Protect Your Privacy with DROP – Californians now have access to a free and secure new tool DROP (Delete Request and Opt-out Platform) that makes protecting your personal information faster and easier. One request tells all registered data brokers to delete any personal information they have about you and stop selling it. This helps limit spam and targeted ads as well as shrink your overall digital footprint, giving you more privacy and peace of mind. DROP is brought to you by the California Privacy Protection Agency (CalPrivacy).
DFPI Joins Attorney General to Oppose Federal Escrow Proposal – On Jan. 30, we joined Attorney General Rob Bonta, and a bipartisan coalition of 23 Attorneys General, to oppose federal rules that would block California’s law requiring banks to pay interest on mortgage escrow accounts. If adopted, the proposal could harm millions of Californians — including people still recovering from last year’s LA wildfires. Read the DFPI’s comments opposing the proposal.
On Feb. 21 in San Francisco, Self-Help for the Elderly, a CalMoneySmart grantee, honored participants for their successful completion of a six-month financial literacy program that included classes on budgeting, banking, credit, debt management, identity protection, and long-term financial planning. The CalMoneySmart grant program provides annual grants of up to $200,000 to nonprofit organizations across California to provide financial education and empowerment programs and services for unbanked and underbanked Californians.
Consumer Alerts & Enforcement Actions
WhatsApp Group Posing as Licensed Adviser – An individual calling himself Professor Jake Civiello is falsely posing as a licensed investment adviser. He runs a WhatsApp group called VIP Guidance Group, which is NOT connected to any licensed investment adviser or broker-dealer in California. The real Jacob Civiello, a licensed broker-dealer, has no affiliation with the VIP Guidance Group.
Coinme and Unchained Enforcement Actions – We ordered Coinme, one of the largest crypto kiosk/ATM operators in the state, to refund overcharged customers approximately $175,000. This builds upon a previous enforcement action against the company in June 2025. We also ordered Unchained, a crypto lender, to pay a $200,000 fine for violating the California Financing Law (CFL). The company issued risky loans and failed to consider borrowers’ ability to pay them back.
Consumer Success Story
“Thank you for your support. The company refunded my account for the funds they sent to the wrong recipient. Case closed, with much appreciation for your good work.” – Mateo, Grass Valley, CA
DFPI Helps Consumer Recover Hundreds of Dollars After App Error
In our latest consumer success story, we help Mateo* from Grass Valley recover hundreds of dollars from a popular payment app after it sent his money to the wrong person. Read his full story.
* A pseudonym is used for privacy.
Federal Government Phasing out Paper Payments – With tax season upon us, a reminder that the Federal Government is phasing out issuing paper checks or money order payments. If you’re expecting a tax refund this year, set up a direct deposit account to receive your electronic payment. No bank account? No problem. Open an account at FDIC.gov/GetBanked or MyCreditUnion.gov. See more paperless options from the IRS.
KC Mohseni Commissioner of Financial Protection and Innovation
California Department of Financial Protection and Innovation, 651 Bannon Street, Suite 300, Sacramento, California, 95811
