Our Mission: "Serving Californians by effectively overseeing financial service providers; enforcing laws and regulations; promoting innovation and fair and honest business practices; enhancing consumer awareness; and protecting consumers by preventing potential marketplace risks, fraud, and abuse. "
✔ If the SAFE merger proposal comes to a member vote, it will not be approved by a majority of the 250,000 California SAFE member-owners.
✔ When the merger proposal is not approved by SAFE member-owners, the California regulator - without published guidelines nor public hearing - may unilaterally choose to over-rule the legitimate member vote.
✔ If DFPI disregards the SAFE member vote, SAFE's California charter will be terminated, regulatory authority, and control of member assets will be transferred to Washington.
Lopping off yet another charter by DFPI is to say the least ... Innovative!
✔ Lets take a look at how that "innovative strategy" is working out for California's state regulator, DFPI:
