California Department of Financial Protection and Innovation

Department of Financial Protection and Innovation

DFPI headquarters in Sacramento, CA
Department overview
FormedJuly 1, 2013 (2013-07-01)
Preceding agencies
JurisdictionCalifornia
Headquarters2101 Arena Boulevard Sacramento, California
38°38′50″N 121°30′45″W / 38.6471°N 121.5125°W / 38.6471; -121.5125
Department executive
  • Clothilde V. Hewlett, Commissioner
Parent departmentBusiness, Consumer Services and Housing Agency
Websitedfpi.ca.gov

The California Department of Financial Protection and Innovation (abbreviated DFPI; formerly the Department of Business Oversight, DBO) regulates a variety of financial services, businesses, products, and professionals.[1] The department operates under the California Business, Consumer Services and Housing Agency.

The DFPI protects California consumers and oversees the operations of state-licensed financial institutions, including banks, credit unions, debt collectors, nonbank mortgage lenders, student loan servicers, money transmitters, and others. Additionally, the department licenses and regulates a variety of financial businesses, including securities brokers and dealers, investment advisers, payday lenders, certain fiduciaries, and nonbank lenders. The department also regulates the offer and sale of securities, franchises, and off-exchange commodities.[1]

As of December 6, 2021, Commissioner Clothilde V. Hewlett leads the department, which has offices in Sacramento, San Francisco, Los Angeles, and San Diego.

  1. ^ a b "About". The Department of Financial Protection and Innovation. Retrieved 5 September 2021. Public Domain This article incorporates text from this source, which is in the public domain.