Department of Financial Protection and Innovation

What You Need to Know: As California’s Business and Consumer Services Agency (BCSA) and Department of Financial Protection and Innovation (DFPI) are ordering financial institutions to report on their handling of insurance payouts for survivors of the Los Angeles fires, warning that lenders who fail to comply are subject to state enforcement.

What You Need to Know: In 2025, California used its key consumer protection law to return money to Californians, tackle fraud, and impose more than $1.4 million in penalties for corporations harming consumers — all while the federal government rolled back protections.

Hosted by Senator Josh Becker (SD13), please join this free in-person event to learn how to protect yourself from fraud and scams. There will be a live Q&A session and presenters will include the California Contractors State License Board, the Department of Financial Protection and Innovation, the Department of Insurance, and more! Mountain View City Hall Council Chambers (2nd floor) 500 Castro Street Mountain View, CA 94041

Hosted by the San Mateo County Libraries, join this webinar to learn how you can protect yourself from deepfakes, AI-generated phishing attempts, and other manipulative tactics. Learn how to spot the red flags, protect your identity, and safeguard your finances in the age of AI and crypto scams. Register for this webinar: https://smcl.bibliocommons.com/events/6a91f9bd57c264087ad492ad

Join the California’s Premier Lifestyle, Health & Aging Expo. Your One-Stop Senior Resource Experience: Because Getting Older Should Come With Perks! The DFPI will be hosting a resource table providing fraud and scam prevention along with a workshop on Protect Yourself from Fraud.

What You Need to Know: California fines franchise company for deceiving small business owners; the latest to face DFPI action after misleading investors. SACRAMENTO – The California Department of Financial Protection and Innovation (DFPI) today announced it penalized The Kickin’ Crab, LLC and The Kickin’ Crab, Inc. for violating the California Franchise Investment Law (FIL) and misleading small business entrepreneurs.

DFPI works hard to protect California consumers and keep our financial markets fair, safe, and honest. The summary below of significant actions from last month shows our everyday commitment to getting money back to consumers and stopping dishonest businesses from breaking the rules. A full list can be found on the actions & orders page.

Bank Was Subject of Multiple State and Federal Enforcement Orders What You Need to Know: California closed Nano Banc given its deteriorating financial condition. This follows years of executive mismanagement and failure to comply with California’s orders. SACRAMENTO – The California Department of Financial Protection and Innovation (DFPI) today seized Irvine-based Nano Banc and appointed the Federal Deposit Insurance Corporation (FDIC) as a receiver.

Keeping your money safe is one of the most important reasons to choose a bank or credit union you can trust. A key part of that protection is deposit insurance. Banks are insured by the Federal Deposit Insurance Corporation (FDIC), and credit unions are insured by the National Credit Union Administration (NCUA). Deposit insurance protects consumers if an insured bank or credit union fails.

These days, almost everything can be paid for with digital payments using credit cards, debit cards, mobile apps, or digital wallets. According to a 2024 McKinsey & Company report, 92 percent of consumers in the United States (a new high) report having made some form of digital payment over the past year. Unfortunately, as digital payments grow in popularity, transaction protection is also a growing concern.