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Past consumer alerts and press releases

All releases:

Banks & trustsCollection agenciesConsumer financeCredit services organizationsCredit unionsGeneral (not related to a specific program area)Investor information programMortgage lendingPrearranged funeral plans (preneed certified providers), endowment care, & master trusteesSecurities enforcementSecurities registration


Banks & Trusts

2010
LibertyBank closed, acquired by Home Federal Bank
Customers can expect business as usual
Home Valley Bank closed, acquired by South Valley Bank & Trust
Customers can expect business as usual
Columbia River Bank closed, acquired by Columbia State Bank
Customers can expect business as usual
2009
Community First Bank closed, acquired by Home Federal Bank
Customers can expect business as usual
Silver Falls Bank closed, Citizens Bank to acquire deposits
Customers can expect business as usual
Pinnacle Bank closed, acquired by Washington Trust Bank
Customers can expect business as usual
2008
Community banks increase deposits, remain a safe place for your money
State warns consumers about lending scam
Applicants must pay up-front loan fee
Oregon banks remain strong
2007
Oregon financial regulator receives national reaccreditation
2005
Consumer Alerts - Phishing Scam (FDIC consumer information)
2004
FDIC Joins in Launch of Federal Financial Education Toolkit and Web Site
Federal Bank, Thrift, and Credit Union Regulatory Agencies Provide Consumer Information on Avoiding Overdraft and Bounced-Check Fees
2003
Electronic Check Conversion (a Federal Reserve Bank publication)

Collection Agencies

2008
State orders Salem-area collection agency to cease and desist
Action follows complaints filed against Hawkeye Financial Group, Inc.
State revokes registration of Gresham collection agency
Action follows complaints filed against All Debt Recovery, LLC
2005
Oregonians warned not to deal with unlicensed entities: State Adjustment or Major Finance
2004
Tem-Mar Enterprises, Inc., dba Acme Credit

Consumer Finance

2011
State fines unlicensed online payday lender
State fines unlicensed online payday lender
2010
State disciplines American General for dumping checks in trash
Company paid $75,000, must heighten supervision of staff
Tax refund loans can be high cost, unnecessary
Oregonians can get fast refunds and save money by e-filing
2008
State warns consumers about lending scam
Applicants must pay up-front loan fee
State issues order against consumer finance lender for exposing clients to identity theft. Noble Finance must cease and desist, reimburse investigative costs.
2006
Oregon takes additional steps to protect consumers from high-cost loans
2005
Authorities seek information about Talent woman's alleged illegal lending activities
Short-term Loan Licensee 2005 Annual Report
2004
Consumer finance annual report form revised
State credits First Tech for offering new short-term lending program
Refund anticipation loans
2002
State of Oregon files stipulated judgment against A 1 Cash Advance and its owner Tim Stroud, also known as Tim Loren
State of Oregon files stipulated judgment against A 1 Cash Advance and its owner Tim Stroud, also known as Tim Loren

Credit Service Organizations

2005
FTC Settles with AmeriDebt: Company to Shut Down
AmeriDebt Stipulated Final Order and Judgment
2004
AG cautions Oregonians about doing business with PaulMichael Moore of Portland
2003
Nationwide Credit Repair Operation to Pay More than $1.15 Million in Consumer Redress

Credit Unions

2005
Phishing alert from NCUA
2004
Bogus-credit-union scam derailed; consumers warned by Division of Finance & Corporate Securities
Sunrise Family Credit Union - unauthorized use of legal entity's name
State credits First Tech for offering new short-term lending program
2002
State authorizes first new credit union in 20 years!

General alerts and releases not related to a specific program area

2010
Tax refund loans can be high cost, unnecessary
Oregonians can get fast refunds and save money by e-filing
State agency to host seminars on preventing fraud
Events throughout Oregon will help consumers avoid money-taking schemes
2009
Thirteen Defendents Charged in $19 Million Bank Fraud
Oregon issues order against insurance agent for dumping records
Documents contained clients' personal information
2008
State warns consumers about lending scam
Applicants must pay up-front loan fee
2006
State warns consumers about lottery scam
New administrator to lead Oregon financial services regulator
2005
IRS Warns Consumers of Possible Scams Relating to Hurricane Katrina Relief
Business Alert - Possible Invoice Scam (Secretary of State)
DCBS to join activities, expo for Oregon's seniors and their boomer children
2004
State financial services regulator announces staff appointments
State Division of Finance and Corporate Securities hires deputy administrator
Refund anticipation loans
2003
Fake ads target unwary loan seekers
FDIC fraud alert on advance payments
2002
Phone scammers step up efforts in Oregon with refinance deals

Investor information

2010
Department launches public service announcements to help Oregonians avoid scams
State agency to host seminars on preventing fraud
Events throughout Oregon will help consumers avoid money-taking schemes
2008
Portland Events to Provide Guidance in Retirement Investing and Recognizing Scams
2007
State identifies most common investment scams
2006
Teens win cash awards in state essay contest
Essay Contest
State warns seniors about "senior specialists"
2005
Teens win cash prizes in financial-literacy essay contest sponsored by a state agency
Investor Alert - SEC vs. Terry Neal fraud case (thegrassmueckgroup.com)
High-school students to compete for cash with essays about investing
DCBS to join activities, expo for Oregon's seniors and their boomer children
2004
State program offers free financial-investment infomation
Investor Alert - Mutual Fund Fees
Investor Alert - Telemarketing Stock Scam
State officials warn of oil-investment scam directed at seniors
Students win cash prizes from state for essays about financial knowledge
State offers teens prize money in essay contest
2003
Mutual Fund Breakpoints: Are You Owed a Refund?
2002
The Nigerian Nightmare: Who's sending you all those scam e-mails?
Investor alert concerning Wedgewood Acquisitions and the U.S. Securities Registration Bureau
Investor alert concerning Health Maintenance Centers, Inc., Znetix, Inc., and Kevin L. Lawrence
2000
State warns consumers against co-called gifting clubs

Mortgage Lenders

2011
California loan modification company will pay more than $130,000 and cease doing business in Oregon
DCBS takes action against Ashland company for illegal loan modification activity
Company charged excessive fees, failed to register with the state
2010
Medford area developer and mortgage broker convicted of racketeering, securities fraud, and aggravated theft
Consumers have new tool to check out mortgage lenders
Higher standards will help protect borrowers
State issues fines, enforcement orders in three mortgage cases
Bend event to help homeowners prevent foreclosures
State sanctions promoter of "foreclosure rescue" scheme
Tony Schwartz promised to help distressed homeowners, then illegally sold interests in homes
2009
Thirteen Defendents Charged in $19 Million Bank Fraud
State revokes mortgage broker license
Case involves mortgage fraud and unethical behavior
Medford event to help homeowners prevent foreclosure
Nonprofit counselors will be available for one-on-one meetings
Oregon homeowners facing foreclosure have new rights
Lenders required to meet with borrowers about loan modifications
State Issues Orders against Mortgage Brokers, Loan Originators
One broker is permanently barred from any financially related business in Oregon
State Revokes Licenses of Two Mortgage Companies
State bans Portland-area mortgage loan originator
Homeowners Should Be Wary of Loan Modification Offers
State issues fines, order in mortgage fraud case
2008
State issues fines, enforcement orders in two mortgage lending cases
Former managers ordered to pay fines and a mortgage company receives conditional license
State denies license, orders mortgage broker to cease and desist
Firm ordered to pay $70,000 in fines for violations of Oregon Mortgage Lender Law
State warns consumers about lending scam
Applicants must pay up-front loan fee
State takes enforcement action against four mortgage brokers
Cases involve unethical behavior, falsified loan documents, training requirements
Oregon receives grant money for foreclosure counseling and assistance
2007
State issues fines, enforcement orders in 4 mortgage lending cases
Department offers advice to help consumer avoid foreclosure
AG Myers and DCBS remind Oregonians of restitution eligibility in $325 million Ameriquest settlement
State orders $46,000 in fines against promoters of illegal mortgage rescue scheme
State issues fines, enforcement orders in 2 mortgage lending cases
State orders two mortgage providers to stop illegal activity
State to strengthen regulation of mortgage lenders
Mortgage Lending Requirements Strengthened
2006
Ameriquest Multistate Settlement
Loan Originators - continuing education requirements
FHA Program Update, Appraisal Report, and Home Equity Conversion Mortgage Training
State to hold forum on mortgage lending
Mortgage Lending Forum
Oregonians to receive $1.5 million restitution under settlement with Ameriquest
2005
Warning - Cambridge Financials, Financial Advisors, or Trafalger Group
Mortgage lender application/renewal fee change
2004
Redwood Trust and Bountiful LLC - mortgage lending alert
Mortgage Lender Program Fee Structure Proposal
One-time exemption advisory
Cease and Desist order against Penalty against Citigroup Inc., New York, New York, a bank holding company, and CitiFinancial Credit Company, Baltimore, Maryland, a non-bank subsidiary of Citigroup (Federal Reserve Board)
State revokes Bend-area mortgage broker's license
Sytsma and All Seasons Mortgage - Order to Revoke Mortgage Banker/Broker License
2003
Checks mailed today for Oregon consumers involved in Household settlement
Fairbanks Capital Settles FTC and HUD Charges
Sytsma and All Seasons Mortgage - Order to Cease and Desist
Capitol Commerce Mortgage Corporation closes its doors
Justice & DFCS/DCBS remind consumers of deadline for Household restitution
2002
Landmark settlement with mortgage lender Household International, Inc.

Prearranged funeral plans (preneed certified providers), endowment care, & master trustees

2009
Department completes Twin Oaks investigation
Former owners must pay $540,000
2005
State advises caution when changing funeral plan accounts
2004
Eugene cemetery business loses certification; consents to state's stipulated order
Sunset Hills LLC Stipulated Order of Revocation of Certificate
Sunset Hills LLC Amended Order of Revocation of Certificate
2002
Litty funeral directors news release (Affiliates: Brookings Chapel, Gold Beach, Chapel, and Sea Haven Cremation Services)

Securities enforcement

2011
State fines LPL Financial for failing to supervise stockbroker
State fines Portland man $300,000 for securities violations
State fines Portland man $345,000 for promoting pyramid scheme
State fines financial firm $75,000 for failing to supervise representative
Action ends 17-year fraud scheme
2010
DCBS settles with brokerage firms over auction-rate securities
Settlements net additional $1.4 million, bringing total to more than $3 million
Medford area developer and mortgage broker convicted of racketeering, securities fraud, and aggravated theft
State issues fines, enforcement orders in three mortgage cases
State sanctions promoter of "foreclosure rescue" scheme
Tony Schwartz promised to help distressed homeowners, then illegally sold interests in homes
State agency to host seminars on preventing fraud
Events throughout Oregon will help consumers avoid money-taking schemes
State bars Sunwest Management owner from financial industry
Jon Harder violated numerous securities laws in investment schemes
2009
State proposes to revoke investment adviser license
Order alleges breach of fiduciary duties
Thirteen Defendents Charged in $19 Million Bank Fraud
State sanctions promoters of fraudulent time-share investment program
Oregonians lose more than $5 million in scheme
Beaverton Woman Sentenced to 57 months Prison for Ponzi Scheme
Oregon settles with national brokers over auction-rate securities
More than $1.4 million in fines will go to the General Fund
State finalizes Agreement with Prosper Marketplace Over Sales of Unregistered Securities
State stops 'boiler room' operation
Sales staff pushed high-risk investments
State issues cease-and-desist orders for unregistered securities
2008
State orders unlicensed California broker-dealer to cease and desist
State securities regulators settle with Prosper Marketplace over unregistered securities
Two Former Business Partners Convicted on Fraud Charges
Convictions based on long-running Ponzi scheme
State investigating sales of auction-rate securities
Michael K. Frazier of Frazier Financial Services arrested for theft, fraud, and sale of unregistered securities
Sandy man gets jail sentence for multiple theft, fraud charges
State orders Springfield company to cease and desist
2007
State orders $46,000 in fines against promoters of illegal mortgage rescue scheme
SEC, State of Oregon permanently put investment adviser out of business
State identifies most common investment scams
State warns consumers about sweepstakes scam
State revokes La Grande stockbroker's license - Stockbroker invested senior citizens' money in risky, unsuitable oil and gas partnerships
State orders company to stop selling securities in Oregon
State orders former Portland-area stockbroker to pay restitution to investors
2006
CONSUMER ALERT: Don't be Fooled - this Jewell's a Fake Michigan Dept of Labor and Economic Growth press release
Ameriquest Multistate Settlement
Oregon to receive $259,932 in Wachovia settlement
Authorities seek information about woman who stole $500,000
Warning concerning Instant Funding Systems
2005
State financial regulator warns Oregonians about People in Profit System (PIPS)
DCBS/DFCS and Oregon DOJ jointly announce indictment of Ricky Lynn Johnson and his company NuStart Concepts, Inc.
Two Men Indicted in $13 Million Dollar Internet Investment Scheme
DCBS announces settlement with former Living Enrichment Center leader Mary Manin Morrissey and Edward Morrissey in securities case
Morrissey Covenant
Morrissey Consent Judgment
Morrissey Complaint
2004
Oil-investment con man sentenced in Denver
New chief of enforcement hired at Finance and Corporate Securities
Metropolitan Investment Securities, Summit Investments, and Metropolitan Mortgage & Securities Co.
2003
NASD Sanctions Metropolitan Investment Securities for Abusive Sales Practices and Supervisory Violations
State shuts down Portland-area investment scam
Rencher Judgment - Final
Rencher Opinion and Order
Oregon to share in settlement of Wall Street brokerage case
2002
Other activities involving Enron
State announces Enron investigation
Oregon racketeering law (Enron)

Securities registration

2008
Securities Fee Change
2004
State streamlines mutual fund filings with new Internet-based process