SACRAMENTO, Calif. — California regulators are warning against a phony “Power Pictures Credit Union” being operated in a Los Angeles office building.

“Power Pictures is not authorized to transact business in the manner of a credit union and is not authorized to transact business under a name which contains 'credit union,'” said an order issued last month by the California Department of Financial Institutions.

A spokeswoman for the department said these kinds of bogus financial institutions run by an individual or group can “pop up maybe several times a year” though this was the first CU recalled.

Earlier in the year the department warned against three unlicensed bank and trust entities in Stockton, Irvine and Dana Point.

On Power Pictures, “allegedly located at 6200 Wilshire Blvd. Suite 107″ in Los Angeles, the DFI urged “extreme caution when dealing with this entity.” Individuals who communicate with Power Pictures are asked to contact DFI's Legal Division.