DFPI headquarters in Sacramento, CA | |
Department overview | |
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Formed | July 1, 2013 |
Preceding agencies |
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Jurisdiction | California |
Headquarters | 2101 Arena Boulevard Sacramento, California 38°38′50″N 121°30′45″W / 38.6471°N 121.5125°W |
Department executive |
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Parent department | Business, Consumer Services and Housing Agency |
Website | dfpi |
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[update], Commissioner Clothilde V. Hewlett leads the department, which has offices in Sacramento, San Francisco, Los Angeles, and San Diego.