September Consumer Connection

Join us in celebrating the important work of our grantees that support financial education and student loan borrower protection programs in Latino communities across California.

Learn how a recent federal court action affects student loan borrowers enrolled the Saving on a Valuable Education, Income-Driven Repayment, and Public Service Loan Forgiveness programs.

Oct. 2, 12 - 1 p.m. | Virtual

Are you ready to take the first step toward owning a home? Learn about the homebuying process, how to prepare, how to avoid mistakes, and the resources and financial assistance to achieving the dream of homeownership. Guest speakers from the California Housing Finance Agency (CalHFA) and Department of Real Estate (DRE) will answer your questions live. Register online.

Oct. 5, 10 a.m. – 1 p.m.

Join us in San Francisco’s Bayview District for our free Financial Resource Fair. Whether you're interested in college saving plans, finding affordable housing solutions, exploring job opportunities, or managing your personal finances, we have something for everyone. Be one of the first 100 registrants and receive our Fraud Protection Kit. Sign up now.

Upcoming Community Events

• CalMoneySmart grant awards – The DFPI awarded $4 million in CalMoneySmart grants for the 2024-2026 grant cycle. This year’s slate of 15 community-based organizations expands the program's geographic coverage to the North State and Central Coast regions.
• Court upholds transaction limit for crypto kiosks – The Superior Court for Los Angeles County upheld the Digital Financial Assets Law’s landmark consumer protections for users of crypto asset kiosks, also known as Bitcoin ATMs, to limit daily withdrawals to $1,000 per customer per day.
• Financial education in high schools – Governor Newsom signed a law (AB2927) to make financial literacy required content to graduate from high school in California.

The latest on financial scams and fraud, and the actions we're taking to protect

Californians.

• Student Loan Debt Relief Actions – We’ve issued enforcement actions against Financial Enhancement Services, Inc., The Firm Alternative LLC (dba DocuPrep Xpress), and Total Rain Inc. (dba Student Aid Group) to prevent them from charging fees for student loan debt relief services before any actual work has been performed. California consumers will receive at least $85,000 in refunds.
• Fraudulent Asset Recovery Scam – Beware of asset recovery scams using the DFPI logo and fraudulently claiming to be from the Department’s “Global Anti-Scam Unit” and the “DFPI Global Fraud Unit,” neither of which exist.
• Patelco Credit Union Cyberattack Update – Patelco Credit Union confirmed a data breach from the ransomware attack on June 29. Check out our tips to protect yourself from ransomware attacks and phishing attempts.
• Crackdown on Crypto Scams – We’ve issued five desist and refrain orders against these crypto schemes for misleading investors and/or offering unqualified securities: TLC Trading AI, AladdinBot, BitHarvest, Polivera, and K-100.

The Federal Trade Commission (FTC) has shut down and frozen the assets of a student loan debt relief scheme that tricked consumers into paying hundreds of dollars in junk fees. Start Connecting LLC, doing business as US Student Debt Relief, targeted Spanish-speaking consumers, pretended to be affiliated with the Department of Education and its loan servicers, and made false promises of low, permanently fixed monthly payments and loan forgiveness. The DFPI assisted in the FTC investigation. Learn more.

CLOTHILDE V. HEWLETT
Commissioner of Financial Protection and Innovation