Pursuant to the Governor’s Reorganization Plan No. 2 on July 1, 2013, the Department of Corporations and Department of Financial Institutions became the Department of Business Oversight. Learn more.
The Department of Business Oversight (DBO) provides protection to consumers and services to businesses engaged in financial transactions. The Department regulates a variety of financial services, products and professionals. The Department oversees the operations of state-licensed financial institutions, including banks, credit unions, money transmitters, issuers of payment instruments and travelers checks, and premium finance companies. Additionally, the Department licenses and regulates a variety of financial businesses, including securities brokers and dealers, investment advisers, deferred deposit transactions(commonly known as payday loans) and certain fiduciaries and lenders. The Department also regulates the offer and sale of securities, franchises and off-exchange commodities. For the complete list, see the Department’s page about Licensees and Regulated Industries.
- 03/06/2014 - Licensees are reminded that in accordance with section 7119 of title 21 of the California Code of Regulations, the Residential Mortgage Loan Report is due by March 31, 2014, for all residential mortgage lenders that are not reporting to a federal or state regulatory agency as provided by the Home Mortgage Disclosure Act of 1975, as amended. Licensees making residential mortgages should consult with their internal compliance officers regarding whether they are required to file the state report.
- 03/03/2014 - The Annual Report Form for Licensees Engaged in Business under the California Finance Lenders Law (CFLL) for Year Ended December 31, 2013, is available for download. Please download all 3 documents: CFLL Annual Report Instructions, Schedule A to K, Schedule L to O and G by Loan Type or download the PDF Portfolio* containing all documents. For questions, please call (213) 576-7690.
- 02/24/2014 - The CRMLA reports (CRMLA 13 Report Letter.pdf, CRMLA 13 Annual Report.pdf, CRMLA_13_FSD_Survey.pdf) must be completed and returned to the Department of Business Oversight. These reports must be filed by every licensee, even if no business was conducted under the authority of the license in 2013. Due to the delay of this notice, the Commissioner hereby grants an extension until April 4, 2014.
- 02/12/2014 - The Annual Report Form 2030, for Licensees Engaged in Business under the California Deferred Deposit Transaction Law (CDDTL) for Year Ended December 31, 2013, should be submitted electronically. The Department has emailed a link to the Annual Report Form 2030 to each CDDTL licensee’s designated e-mail address on file. If you have not received the link to the Annual Report Form 2030 or if you have questions regarding your Form 2030 please contact: RespondToDBO@dbo.ca.gov. Previous What's New »
- 02/14/14 – Department of Business Oversight Reaches Settlement with National Residential Mortgage Lender.
- 02/12/14 – California Department of Business Oversight Targets Illegal International Investment Scheme
- 12/20/13 - Unlicensed Online Payday Lenders Void $1 Million in Loans to California Borrowers (PDF)
More Press Releases »
- About Us
- FDIC Consumer News: Financial Tips for Seniors - 15 Quick Tips for Protecting Your Finances; How Older Adults Can Steer Clear of Scam Artists; Borrowing From Your Home in Retirement? Carefully Research the Benefits and Risks; Tips for Seniors Wanting to Help Relatives; and more.
- CFPB and FDIC Collaborate to Develop a Tool for Older Adults to Prevent Financial Exploitation More Consumer Resources »
- DBO Order - Electronic Communications (Designated E-Mail) - To register or update the designated email for your business, visit DBO’s secure designated email portal.
- Letter to Banks and Credit Unions regarding illegal unlicensed online payday lending
- DBO Small Business Lending Conference, October 30, 2013, San Francisco
More Licensee Resources »
- 01/23/14 - World Capital Market, Inc. (WCM777)
The California Department of Business Oversight issued a Desist and Refrain Order against three companies, World Capital Market, Inc., WCM777, Inc. and WCM777 Limited, which collectively ran an investment scam marketed under the name “WCM777.” The order was also issued against the principals of WCM777, Ming Xu and Zhi Liu, and salesperson, Harold Zapata. The order directs WCM777 to cease all operations in California. Read More...
- 01/22/14– PayDayOne LLC
The California Department of Business Oversight has been notified that PayDayOne LLC is sending unsolicited emails to consumers offering payday loans. This company lists its telephone number as (916) 288-8008, and its address as 1515 K Street, Suite 200, Sacramento, California 95814, which is the Sacramento address for the Department of Business Oversight.
- 01/22/14 – Aftermarket Escrow/Agreed Escrow
The California Department of Business Oversight has been notified that a company illegally offering escrow services to consumers in connection with the sale of their timeshares in Mexico is falsely claiming to be the company “Aftermarket Escrow” or “Agreed Escrow," with a San Francisco phone number of (415) 613-6013.
- 01/22/14 – Real Pro Escrow, Inc., Real ProEscrow, Inc., and Realproescrowinc.com
The California Department of Business Oversight has been notified that Real Pro Escrow, Inc., and Real ProEscrow, Inc., with a website address of www.realproescrowinc.com, is offering illegal escrow services to consumers. This company lists its telephone number as (805) 755-6591, and its address as 600 Hampshire Road, Westlake Village, California 91361.
Where Do I Find?...
DBO Call Center
- Toll-Free 1-866-275-2677 (English)