November 26, 2020

Volume X, Number 331

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A Rash Of License Impersonators?

In the last several weeks, California's Department of Financial Protection and Innovation (fka the Department of Business Oversight) has issued a number of consumer alerts involving companies fraudulently claiming to hold a DFPI license.  For example, the department earlier this week warned:

"CreditEnrollmentCenter.net lists DFPI lending license number 60DBO-41845 at the bottom of every page.  This license number actually belongs to the DFPI-licensed finance lender Greenlink Financial, and is not affiliated with this website."

This follows the Department's caution from the week before about another company:

"The California Department of Financial Protection and Innovation (DFPI) has received information that a company calling itself 'Prestige ESR Service LLC' is using the address of a licensed escrow company 'Prestige Escrow Inc.,' located at 16933 Parthenia Street, Suite 210, Northridge, CA 91343.  The company 'Prestige ESR Service LLC' does not have a DFPI license to conduct escrow activity."

Consumers can check whether a financial service provider is licensed in California can go to the DFPI website at www.dfpi.ca.gov or call 1-866-275-2677.

© 2010-2020 Allen Matkins Leck Gamble Mallory & Natsis LLP National Law Review, Volume X, Number 297
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About this Author

Keith Paul Bishop, Corporate Transactions Lawyer, finance securities attorney, Allen Matkins Law Firm
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Keith Bishop works with privately held and publicly traded companies on federal and state corporate and securities transactions, compliance, and governance matters. He is highly-regarded for his in-depth knowledge of the distinctive corporate and regulatory requirements faced by corporations in the state of California.

While many law firms have a great deal of expertise in federal or Delaware corporate law, Keith’s specific focus on California corporate and securities law is uncommon. A former California state regulator of securities and financial institutions, Keith has decades of...

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