William Haraf
Commissioner

Department of Financial Institutions
For more information about DFI and its programs, go to www.dfi.ca.gov.

Responsibilities and accomplishments include:

Ensuring security and soundness of the financial services industry:

• Received professional accreditation from the Conference of State Bank Supervisors certifying that DFI maintains the highest standards and practices in state banking supervision.
• Worked collaboratively with the state Department of Real Estate, Department of Corporations, and the Office of Real Estate Appraisers to establish a central license-information Web page to improve client services.

Streamlining approval processes for licensees and new banks:

• Implemented CD-based application to reduce application times of licensees for transmitters of money abroad, agent authorizations and branch-office applications.
• Instituted Web-based DFI post-examination licensee survey to ensure the examination process reduces processing costs and provides value to licensees.
• Established a new-bank application process that reduced the total number of steps in the process by more than 50 percent since 2003.
• Approved more than 60 new banks during the last five years.

Promoting financial literacy:

• Continued to sponsor California Financial Literacy Month in April when educational programs are provided by financial institutions, government entities and community-based organizations that encourage Californians to plan for and protect their financial futures.