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Assessment Rate, IT Survey, PMI, Crypto Scams, & Mortgage Data

The California Department of Financial Protection and Innovation’s (DFPI) Monthly Bulletin was just released, providing updates on assessment rates, an information technology system survey, mortgage insurance requirements, a cryptocurrency webinar, and 2022 mortgage lending data.

2023-2024 Assessment Rates for Financial Institutions
On June 30, invoices for the 2023-24 DFPI annual assessment were emailed to credit unions and money transmitters. Licensees that did not receive their invoices should notify the Accounts Receivable Unit at as soon as possible.

Invoices are payable on or before August 1, with more time allowed for payments made via electronic funds transfers (EFT). EFT payments are due by Aug. 8.

For credit unions, the base rate was set at $0.99 per $1,000 of assets, a $0.02 reduction from last year’s rate of $1.01.

For questions about the calculation of an assessment, please refer to “How to Calculate Your Assessment” or contact Patrick Carroll at 415-263-8559 or Questions regarding assessment payment processing should be directed to the Accounts Receivable Unit at

IT System Survey for Credit Unions & Banks
The DFPI is preparing to send out its biennial information technology survey to all credit unions. The survey will be emailed on July 27, 2023 to each institution’s designated email address in accordance with Financial Code section 331.5. Please take a moment to ensure an appropriate email address is on file, and that the mailbox is monitored regularly.

The email will contain a secure link to your individual institutions survey. The electronic 2021 IT Systems Survey is designed to help the DFPI assess the level of each licensee’s information technology risk, allocate resources, and prepare for examinations.

Licensees are required to submit the survey pursuant to Financial Code section 455. Responses are kept confidential and used only in the examination process. The survey will be sent out on July 27, 2023 and will be due no later than August 30, 2023. If you have questions, please contact Senior Financial Institutions Examiner Eric Kwon at For technical concerns, email

Credit Union Mortgage Insurance Requirements
DFPI Commissioner Clothilde Hewlett has waived some mortgage insurance requirements for state-chartered credit unions. You can read more here as well: Certain PMI Requirements Waived for State-Chartered Credit Unions.

Pursuant to Financial Code section 14201, the commissioner has waived the provision in California Code of Regulations, Title 10, section 30.802(a)(1)(B), requiring mortgage insurance on loan amounts in excess of 80 percent of the appraised value of the improved real property. The order does not waive any other requirement in section 30.802.

The order is effective as of June 22, 2023 and shall remain in effect until revoked, amended, or by further order of the commissioner. To view the order, click here.

AI and Cryptocurrency Scams Financial Education Webinar
On July 19 at 6:30 p.m., the DFPI will co-host with Assemblymember Cottie Petrie-Norris a financial education webinar as part of the DFPI monthly webinar series. Join to learn how you can stay safe from financial fraud and scams. The July 19 event is titled “Avoid AI Scams and Use Caution with Crypto” and will feature guest speaker DFPI attorney Trevor Carroll.

Visit the DFPI events page for more information on this and other webinars.

FFIEC 2022 Data on Mortgage Lending Available
On June 29, the Federal Financial Institutions Examination Council (FFIEC) announced the availability of data on 2022 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,460 U.S. financial institutions — including banks, savings associations, credit unions, and mortgage companies. You can read more here: FFIEC Announces Availability of 2022 Data on Mortgage Lending.

The HMDA data are comprehensive publicly available information on mortgage market activity. The data are used by industry, consumer groups, regulators, and others to assess potential fair lending risks and for other regulatory and informational purposes. The data help the public assess how financial institutions are serving the housing needs of their local communities and facilitate federal financial regulators’ fair lending, and consumer compliance.

The Snapshot National Loan-Level Dataset contains the national HMDA datasets as of May 1, 2023. The FFIEC also released several other data products to serve a variety of data users.

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