Monthly Bulletin – September 2026

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September 2026

About the Monthly Bulletin

The Bulletin is a regulatory and informational newsletter, issued once a month by the Commissioner of DFPI, in accordance with state law (Financial Code Section 376). It serves as a communication tool to provide licensees and the public with timely updates on regulatory activity across California’s financial services landscape. The Bulletin includes banking/licensee activity, regulatory updates, industry and licensee updates, enforcement actions, rulemaking and policy announcements, consumer alerts and resources, and other relevant information. Subscribe here.

LICENSEE ACTIVITY

Bank Activity

Purchase of Business Unit

Bank of Hope, Los Angeles, to acquire the banking business of SMBC Manubank, Los Angeles Approved: 7/31/26

Credit Union Activity

Conversion

Alta Vista Credit Union, to convert to federal charter Effected: 08/03/26

Merger

Mid-Cities Credit Union, Compton, to merge with and into CalCom Federal Credit Union, Long Beach Filed: 7/31/26 Withdrawn: 8/27/26

Foreign (Other Nation) Bank Activity

New Office

Deutsche Bank AG

101 California Street, San Francisco (Representative Office)

1999 Avenue of the Stars, Los Angeles (Representative Office)

Approved: 8/04/26

Foreign (Other State) Bank Activity

New Office

Forbright Bank 5757 Wilshire Boulevard, Los Angeles (facility – insured) Opened: 8/21/26

Merchants Bank of Indiana 1 City Blvd., West, Orange (facility – insured) Filed: 8/14/26

Discontinuance of Office

Pinnacle Bank (Memphis, TN) 3333 Michaelson Drive, Irvine (Insured – facility) Filed: 8/05/26

DFPI News

DFPI Cybersecurity Report Form

To address growing cybersecurity risks, the DFPI has created an online Cybersecurity Incident Report Form to help licensees report incidents. Completing the form will help us work quickly to contain the incident and protect assets, data, and stakeholders.

DFPI Announces 2026-28 CalMoneySmart Grantees

DFPI is proud to award nearly $3.3 million in CalMoneySmart grants to 12 nonprofits to support statewide financial empowerment initiatives.

This grantee group will provide free financial education and counseling services to a wide range of Californians, including domestic violence survivors, individuals with disabilities, and tribal communities.

They will cover 38 counties, including an expansion of the program into the North State, Central Valley, and rural service areas.

Many of these organizations provide services specific to the needs of entrepreneurs and individuals who speak languages other than English.

Over the past six years, CalMoneySmart has helped more than 60,000 Californians to set sustainable financial goals and move toward financial wellbeing. This is the final award cycle of available funding for the program.

New Press Releases and Consumer Alerts

DFPI Penalizes Dickey’s Barbecue Pit – California fined Dickey’s Barbecue Restaurants, Inc. for making misleading statements about its franchise model. Our commitment is simple: Transparency matters! Protect investors, and ensure Californians have the facts they need to make informed financial decisions.

DFPI Opposes Federal Proposal That Would Make Banks More Vulnerable to Collapse – In a new comment letter, the DFPI opposed federal regulators’ proposed changes to the nation’s bank rating system, known as CAMELS, warning that the move will jeopardize the economic well‑being of millions of Californians and hurt communities and small businesses.

Academy Mortgage Corporation Enforcement Action – We ordered the Utah-based Academy Mortgage Corporation to pay $825,000 for failing to adequately protect the personal information of more than 284,443 people, including at least 34,452 California residents. The company will also offer impacted customers free identity theft insurance coverage for one year.

Job Interview Malware Trap – We issued a consumer alert about a job interview malware trap, also known as a contagious interview scam. Scammers often advertise job vacancies on social media with ads that appear legitimate. When an applicant is asked to download a “skills test,” “coding exercise,” “test script,” or another tool to complete a task, the application platform installs malware that can capture your personal information.

Broker-Dealers and Investment Advisers News

Continuing Education Requirement for Investment Adviser Representatives (IRA)

The year-end deadline is quickly approaching for IRAs to meet their continuing education (CE) requirement. Please check out the new course catalog on the new IRA Continuing Education website . The site has filters so you can select the right course for your needs and search by:

Provider

Course Content or Topic

Course Format or Credits

Other Professional Designations (CFP, Insurance, etc.)

You can also create a Financial Professional Gateway (FinPro) account through FINRA to view CE transcripts, verify Course ID numbers, and manage IAR CE requirements.

California Consumer Financial Protection Law (CCFPL) News

2026 CCFPL Annual Registration and NMLS Renewal Fees Due December 31, 2026

According to California Code of Regulations, title 10, section 1040 , each registrant under the California Consumer Financial Protection Law (CCFPL) is required to pay its annual registration and Nationwide Multistate Licensing System and Registry (NMLS) renewal fees by December 31, 2026 .

The annual registration fee represents the pro rata share of the costs and expenses reasonably incurred in the administration of the CCFPL as it relates to registrants, as estimated by the Commissioner, for the ensuing year.

Invoices for the 2026 CCFPL annual registration and NMLS annual renewal fees will be generated and available on NMLS on October 31, 2026 . Registrants must log into their NMLS accounts to view and pay their invoice(s). Payments must be made directly through NMLS via ACH or credit card.

If you have not done so already, please create a DFPI Self-Service Portal account and register your email address to ensure you receive future important notices and reminders. Remember, CCFPL registrants are required to register an email address with the DFPI within five days after receiving registration approval according to California Code of Regulations, title 10, 1031 .

If you have any questions or concerns, please contact CCFPL.Inquiries@dfpi.ca.gov or call (866) 275-2677 and follow the directory to locate the Supervision and Registration of New Covered Persons program.

Escrow News

Some Escrow Annual Reports Due September 13, 2026

Escrow agents are required to submit to the Commissioner an annual report prepared by an independent certified public accountant (CPA) ( Financial Code section 17406 ) within 105 days after the close of their fiscal year. The annual report must include audited financial statements and required supplemental information.

If your fiscal year ended on May 31, 2026 , your annual report is due September 13, 2026 . CPAs should email the report to ESCAnnualReportFiling@dfpi.ca.gov by the deadline using a secure, encrypted delivery system. The use of a secure dropbox is also acceptable. If CPAs are unable to submit the annual report electronically, it can be mailed to Stephanie Yoro, Office Technician, Escrow Law, Department of Financial Protection and Innovation, 320 West Fourth Street, Suite 750, Los Angeles, CA 90013.

Penalties for missing the due date or required information are $100 per day for the first five days past the deadline and $500 per day thereafter ( Financial Code section 17408 ). Failure to file a report or to include any required information may also result in the suspension or revocation of an escrow agent’s license or prompt an immediate examination ( Financial Code section 17602.5 ). For questions about the annual reports, email Escrow.Licensing@dfpi.ca.gov.

Upcoming Consumer Education Event

​Every month, the DFPI outreach team educates consumers through community events and a monthly webinar.

Protect Yourself from A.I. Scams Webinar Oct. 7, 1-2 p.m.

Artificial intelligence (AI) has made it increasingly easy for scammers to create highly convincing “deepfake” messages, voices, and even videos with urgent financial demands. Learn how to spot AI-generated scams and arm yourself with techniques to protect your money and your community. Register today .

Updated:

September 4, 2026