CA DFPI Press Releases

DFPI Orders Apoyo Financiero, Inc. to Pay $1M Penalty for Overcharging Customers

The California Department of Financial Protection and Innovation (DFPI) has ordered Apoyo Financiero, Inc. to pay a $1 million penalty and reimburse over $218,000 to customers for charging excessive interest and fees. The lender marketed services to the unbanked community.

DFPI Fines Apoyo Financiero $1 Million for Overcharging

The California Department of Financial Protection and Innovation (DFPI) has ordered Apoyo Financiero, Inc. to pay a $1 million penalty and over $218,000 in restitution for charging excessive interest and fees to customers. The enforcement action stems from a routine examination that uncovered violations of California financing laws.

DFPI Fines Nexo Capital Inc. $500,000 for Unlicensed Crypto Loans

The California Department of Financial Protection and Innovation (DFPI) has fined Nexo Capital Inc. $500,000 for operating as an unlicensed lender and making risky crypto-backed loans to California residents. The company failed to assess borrowers' ability to repay loans, violating California financial laws.

DFPI Orders Coinme to Refund $175,000 to California Consumers

The California Department of Financial Protection and Innovation (DFPI) has ordered crypto kiosk company Coinme to refund $175,000 to consumers for violating the state's Digital Financial Assets Law. This action follows a previous order where Coinme was fined $300,000 and ordered to pay $51,700 in restitution.

DFPI Shares Steps to Protect Family from Scams

The California Department of Financial Protection and Innovation (DFPI) issued a notice sharing practical steps for consumers to protect themselves and their families from scams and fraud. This follows a year where the DFPI and Attorney General's office shut down 48 scam websites.