Welcome to the California Department of Financial Institutions

SAFETY AND SOUNDNESS

DFI Logo The California Department of Financial Institutions (DFI) will recognize its 100-year anniversary from July 1, 2009 to July 1, 2010.  The State Banking Department (the Department’s original name) was formed by the 1909 Bank Act which became effective July 1, 1909.

This special Web page will provide historical information about DFI, the state charter and our licensees. Maintenance of the DFI 100-Year Anniversary Web page will continue until July 1, 2010.  So come back and visit us to see the photos that we have posted from California's financial institutions.

Commissioner's Messages

1909 - 2009 Seals and Logos

 

The State Banking Department 1909 - 1997

In 1909, the Bank Act was passed, creating the State Banking Department. The Department was created to strengthen regulatory powers and bank chartering and examination practices to ensure safety and soundness of banks and protect depositors.

The Department of Financial Institutions 1997 - Today

California began a new chapter in bank regulation with the Department of Financial Institutions (DFI), which became operative July 1, 1997. This new Department combines responsibility for the safety and soundness of California’s depository institutions under one roof. DFI is better able to reduce unneeded regulations and costs for state-chartered credit unions and industrial loan companies formerly regulated by the Department of Corporations, and commercial banks, savings and loan associations, and trust companies, and other licensees formerly regulated by the State Banking Department. Reduced regulatory costs are derived primarily from combining technology and reducing duplicative overhead expenses. Also, DFI is better able to focus on further regulatory reforms for all of California’s depository institutions and to help create a climate for financial institution innovation.

Congratulatory Messages to DFI