DFPI Orders Apoyo Financiero, Inc. to Pay $1M Penalty for Overcharging Customers
Summary
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.
What changed
The California Department of Financial Protection and Innovation (DFPI) has issued a consent order against Apoyo Financiero, Inc., requiring the company to pay a $1 million administrative penalty and reimburse customers more than $218,000. The order stems from a DFPI examination that found Apoyo Financiero, Inc. charged excessive interest and fees on loans made between January 2020 and December 2021, violating California Financing Law and the Fair Access to Credit Act.
Apoyo Financiero, Inc. must cease collecting charges exceeding legal limits and ensure full reimbursement to affected consumers. This enforcement action highlights the DFPI's commitment to combating predatory lending practices, particularly those targeting vulnerable populations like the unbanked. Consumers who believe they have been overcharged by a lender are encouraged to file a complaint with the DFPI.
What to do next
- Review loan origination and fee structures for compliance with California Financing Law and Fair Access to Credit Act limits.
- Ensure all customer reimbursements for illegal charges have been completed.
- Cease collection of any charges that exceed legal limits for consumer loans.
Penalties
$1 million administrative penalty and over $218,000 in customer reimbursements.
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November 17, 2025 What You Need to Know: DFPI takes action after a California company, which markets itself to the unbanked community, charges its customers excessive fees.
Nota: Este artículo también está disponible en español.
SACRAMENTO – The California Department of Financial Protection and Innovation (DFPI) announced that a Concord-based lender, Apoyo Financiero, Inc., must pay a hefty $1 million penalty for charging excessive interest and fees to its customers. In addition, the company will reimburse customers more than $218,000.
A routine DFPI examination of Apoyo Financiero, Inc. led to the discovery of these violations. Apoyo Financiero, Inc. claims on its website to market its services to the underbanked community in the San Francisco Bay Area. Underbanked individuals often find it difficult to access traditional bank accounts due to poor credit and, therefore, rely on finance lenders and payday loans.
The California Financing Law and the Fair Access to Credit Act set strict limits on the cost of consumer loans of a principal amount between $2,500 and $10,000. DFPI discovered from January 2020 to December 2021, Apoyo Financiero, Inc. made multiple loans with charges that exceeded the legal limit.
“California will not sit idly by as companies flout our laws and overcharge customers for loans. DFPI will continue to take strong action against this type of predatory practice to ensure all lenders operate within the law and return funds to consumers when violations occur,” said DFPI Commissioner KC Mohseni. “It is disheartening to see this kind of practice, particularly when it markets its services to a community that has difficulty accessing traditional banks.”
Apoyo Financiero, Inc. has now agreed to, among other things:
- Reimburse borrowers for illegal charges.
- Pay a $1 million administrative penalty to DFPI.
- Stop collecting any charges that exceed the legal limit. To date, the company has refunded more than $218,000 to affected consumers and has agreed to issue additional refunds to ensure full compliance.
Consumers who believe they have been charged unlawful interest or fees by a lender are encouraged to contact DFPI at www.dfpi.ca.gov/submit-a-complaint or by calling toll-free at (866) 275-2677.
About DFPI
The Department of Financial Protection and Innovation protects consumers, regulates financial services, and fosters responsible innovation. DFPI protects consumers by establishing and enforcing financial regulations that promote transparency and accountability. We empower all Californians to access a fair and equitable financial marketplace through education and by helping to prevent potential risks, fraud, and abuse. Learn more at dfpi.ca.gov.
Media Inquiries
For questions, interview requests with a DFPI expert, or to receive our press releases, members of the media can reach us at [email protected].
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