Monthly Bulletins – DFI Archive

DFI Monthly Bulletin – June 2013

Monthly Bulletin Volume 16, Issue 12 - June 2013 Message from the Commissioner Governor’s Reorganization Update and Transition We are just days away from the Governors Reorganization Plan 2 becoming operative. On July 1, the Department of Financial...

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DFI Monthly Bulletin – May 2013

Monthly Bulletin Volume 16, Issue 11 - May 2013 Message from Commissioner Teveia R. Barnes In 2012, Governor Brown introduced a wide-ranging government reorganization plan to improve efficiencies within state government. As part of the Governor's...

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DFI Monthly Bulletin – April 2013

Monthly Bulletin Volume 16, Issue 10 - April 2013 Impermissible Advertising by Credit Unions The Department has recently become aware of certain impermissible advertising campaigns by credit unions.  The advertisements state that “everyone can join” or “all...

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DFI Monthly Bulletin – March 2013

Monthly Bulletin Volume 16, Issue 9 - March 2013 Senate Confirms Teveia R. Barnes as Commissioner of Financial Institutions The California State Senate voted on March 11, 2013 to confirm the appointment of Teveia R. Barnes as Commissioner of the California...

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DFI Monthly Bulletin – February 2013

Monthly Bulletin Volume 16, Issue 8 - February 2013 California Financial Literacy Month April 2013 DFI is participating in the 13th Annual California Financial Literacy Month (CAFLM) and encourages financial institutions to highlight your current financial...

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DFI Monthly Bulletin – January 2013

Monthly Bulletin Volume 16, Issue 7 - January 2013 Message from the Commissioner The year 2012, my first year as Commissioner, was challenging, very exciting and productive. I am extremely proud of the accomplishments of the Department of Financial...

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DFI Monthly Bulletin – December 2012

Monthly Bulletin  Volume 16, Issue 06 - December 2012 Message from the Commissioner Happy New Year! I have spent the past several months throughout California talking about the good in the banking and financial industry. Specifically the...

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DFI Monthly Bulletin – November 2012 Errata

Monthly Bulletin Errata Volume 16, Issue 05 - November 2012 Errata Banks Must Submit Lists of Offices by December 31 The lead item in the Monthly Bulletin requested all commercial banks, industrial banks and trust companies to file a report pursuant to Financial Code...

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DFI Monthly Bulletin – November 2012

Monthly Bulletin Volume 16, Issue 05 - November 2012 Banks Must Submit Lists of Offices by December 31 Pursuant to Financial Code section 1077, all commercial banks, industrial banks and trust companies are required to file a list of all offices that are...

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DFI Monthly Bulletin – October 2012

Monthly Bulletin     Volume 16, Issue 04 - October 2012 Commissioner’s Residential Mortgage Survey It is important the DFI maintain complete, accurate, and up-to-date information on the real estate loan portfolios of licensees to determine...

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DFI Monthly Bulletin – September 2012

Monthly BulletinVolume 16, Issue 03 - September 2012Tara Murphy Appointed Assistant General CounselTara L. Murphy was appointed Assistant General Counsel at the Department of Financial Institutions by Governor Edmund G. Brown Jr. on September 26, 2012. ...

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DFI Monthly Bulletin – August 2012

Monthly Bulletin Volume 16, Issue 02 - August 2012 Commissioner Barnes Addresses NACAB Gala On August 10, 2012, Commissioner Teveia R. Barnes delivered the keynote address to the National Association of Chinese American Bankers (NACAB) Gala at the San...

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DFI Monthly Bulletin – July 2012

Monthly BulletinVolume 16, Issue 01 - July 2012Commissioner Barnes Receives 2012 Transformative Leadership AwardOn July 23, 2012 it was announced that Commissioner Teveia Barnes of the California Department of Financial Institutions was selected as a West...

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DFI Monthly Bulletin – June 2012

Monthly BulletinVolume 15, Issue 12 - June 2012Commercial Banks, Foreign Banks and Trust CompaniesAssessment invoices were mailed to commercial banks, foreign banks and trust companies on June 29, 2012.For the purposes of this assessment, the base rate was...

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DFI Monthly Bulletin – May 2012

Monthly BulletinVolume 15, Issue 11 - May 2012Commissioner Barnes Gives Keynote at EFPN EventCommissioner Teveia R. Barnes delivered the afternoon keynote address at the Elder Financial Protection Network (EFPN) “Call to Action” at the Holiday Inn Golden...

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DFI Monthly Bulletin – April 2012

Monthly Bulletin Volume 15, Issue 10 - April 2012 Message from the Commissioner During my first six weeks as Commissioner, I focused on meeting with government and industry officials and leaders with whom DFI works to accomplish our mission, achieve our...

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DFI Monthly Bulletin – March 2012

Monthly Bulletin Volume 15, Issue 9 - March 2012 Teveia Barnes Appointed Commissioner of Financial Institutions Teveia Barnes was appointed commissioner of the California Department of Financial Institutions effective March 23, 2012. Commissioner Barnes...

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DFI Monthly Bulletin – February 2012

Monthly Bulletin Volume 15, Issue 8 - February 2012 Commissioner Haraf to Leave DFI William S. Haraf today announced his departure. He will leave the Department of Financial Institutions (DFI) effective March 16, 2012. Haraf came to DFI in April 2008 with...

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DFI Monthly Bulletin – January 2012

Monthly Bulletin Volume 15, Issue 7 - January 2012 New Money Transmission Bond Forms DFI has revised its existing bond form for receiving money for transmission and has adopted a new bond form for the selling or issuing of payment instruments or...

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DFI Monthly Bulletin – December 2011

Monthly Bulletin Volume 15, Issue 6 - December 2011 Commissioner’s Residential Mortgage Survey It is important the DFI maintain complete, accurate, and up-to-date information on the real estate loan portfolios of licensees to determine current risk and...

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DFI Monthly Bulletin – November 2011

Monthly BulletinVolume 15, Issue 3 - November 2011Message From The CommissionerHello Everyone,On behalf of all of us at the Department of Financial Institutions, I wish you a joyous holiday season and good health and happiness in 2012.For the past three...

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DFI Monthly Bulletin – October 2011

Monthly BulletinVolume 15, Issue 4 - October 2011Dawne Bortolazzo Appointed Chief Administrative OfficerDawne Bortolazzo, Manager of Fiscal Services at DFI was appointed Chief Administrative Officer effective October 17, 2011.Ms. Bortolazzo received her...

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DFI Monthly Bulletin – September 2011

Monthly Bulletin Volume 15, Issue 3 - September 2011 Annual Directors Conference - Pathways to Growth & Profitability - the Director’s Role Commissioner William S. Haraf and Chief Examiner Scott Cameron will share their views on the regulatory...

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DFI Monthly Bulletin – August 2011

Monthly BulletinVolume 15, Issue 2 - August 2011Liquidation of Sacramento District Postal Employees Credit UnionOn August 12, 2011, the Commissioner of Financial Institutions took possession of Sacramento District Postal Employees Credit Union (Sacramento...

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DFI Monthly Bulletin – July 2011

Monthly BulletinVolume 15, Issue 1 - July 2011Statement by California Commissioner and FSOC Member William HarafWilliam Haraf, Commissioner of the California Department of Financial Institutions and a member of the Financial Stability Oversight Council...

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DFI Monthly Bulletin – June 2011

Monthly Bulletin Volume 14, Issue 12 - June 2011 2011-12 Assessment Commercial Banks, Foreign Banks and Trust Companies Assessment invoices were mailed to commercial banks, foreign banks and trust companies on June 30, 2011. For the purposes of this...

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DFI Monthly Bulletin – May 2011

Monthly Bulletin Volume 14, Issue 11 - May 2011 Retirement of Chief Deputy Commissioner Carol Chesbrough Chief Deputy Commissioner Carol Chesbrough will retire effective June 30, 2011, following a long and distinguished state service career spanning more...

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DFI Monthly Bulletin – April 2011

Monthly BulletinVolume 14, Issue 10 - April 2011California Bankers Association Gathers for 120th Annual ConventionBank officers and directors gathered at the Hyatt Regency in Huntington Beach for the California Bankers Association (CBA) 120th Annual...

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DFI Monthly Bulletin – March 2011

Monthly BulletinVolume 14, Number. 9 - March 2011California Department of Financial Institutions Receives National AccreditationThe Department of Financial Institutions (DFI) has received professional accreditation from the Conference of State Bank...

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DFI Monthly Bulletin – February 2011

Monthly Bulletin Volume 14, Issue 8 - February 2011 Commissioner Makes Eligibility Determination on Ratings Services, Ratings The Commissioner has found that certain securities ratings services are eligible securities ratings services for the purposes of...

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DFI Monthly Bulletin – January 2011

Monthly Bulletin Volume 14, Issue 7 - January 2011 DFI Reminder - Servicemembers Civil Relief Act of 2003 (SCRA) The Department of Financial Institutions (DFI) regularly reminds financial institutions of the Servicemembers Civil Relief Act (SCRA) 50 USC...

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DFI Monthly Bulletin – December 2010

January 08, 2010Monthly BulletinVolume 14, Issue 6 - December 2010Message from the CommissionerDecember 2010 FloodsCommissioner William Haraf urges Department of Financial Institutions’ licensees to grant appropriate latitude to customers affected by the...

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DFI Monthly Bulletin – November 2010

December 08, 2010 Monthly Bulletin Volume 14, Number 5 - November 2010 Message from the Commissioner On behalf of all of us at the Department of Financial Institutions, Happy Holidays! I wish you good health and happiness in 2011. Be sure to find time...

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DFI Monthly Bulletin – October 2010

November 05, 2010Monthly BulletinVolume 14, Number 4 - October 2010SB 1137 Reminder - Loan Foreclosure and Modification GuidelinesAll licensees with residential mortgage loans should have loan foreclosure and modification guidelines in place in accordance...

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DFI Monthly Bulletin – September 2010

Monthly Bulletin Volume 14, Number 3 - September 2010 California Residential Mortgage Foreclosure Protections In light of several large, national mortgage lenders having been cited for alleged deficiencies in their residential mortgage foreclosure...

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DFI Monthly Bulletin – August 2010

Monthly BulletinVolume 14, Number 2 - August 2010Commissioner Haraf to Address AABD/WIB Directors Conference ActivityDFI encourages bank directors to take education seriously. In these challenging times, we believe that bank director education is more...

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DFI Monthly Bulletin – July 2010

August 06, 2010Monthly BulletinVolume 14, Number 1 - July 2010Message from the Commissioner ActivityPreparing for Dodd-FrankHello Everyone,On July 21, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act, a historic...

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DFI Monthly Bulletin – June 2010

July 15, 2010Monthly BulletinVolume 13, Issue 12 - June 2010AB 1160 Form updateAB 1160, signed into law by Governor Schwarzenegger on October 11, 2009 requires banks and credit unions to summarize the terms of a mortgage loan in Spanish, Chinese, Tagalog,...

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DFI Monthly Bulletin – May 2010

June 08, 2010Monthly BulletinVolume 13, Issue 11 - May 2010Retirement of Chief Examiner Craig CarlsonChief Examiner Craig Carlson will retire effective June 14, 2010 as Chief Examiner of the Department of Financial Institutions (DFI) after a distinguished...

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DFI Monthly Bulletin – April 2010

Monthly BulletinVolume 13, Issue 10 - April 2010Mortgage Loan Registration Update ActivityOn June 9, 2009, the Federal agencies published a notice of proposed rulemaking to implement the registration requirements under the SAFE Act.Following a review of...

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DFI Monthly Bulletin – March 2010

April 12, 2010Monthly BulletinVolume 13, Issue 9 - March 2010DFI Partners with GoDirect® During Financial Literacy MonthShare your Events and Activities!Financial Literacy Month is a nationwide campaign to highlight the importance of financial education...

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DFI Monthly Bulletin – February 2010

Monthly Bulletin Volume 13, Issue 8 - February 2010 DFI Issues Warning Notice – FOX BANK A warning to Cease and Desist from doing business in the State of California without a license from the Commissioner of Financial Institutions was issued on March 3,...

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DFI Monthly Bulletin – January 2010

February 09, 2010Monthly BulletinVolume 13, Issue 7 - January 2010Officer Changes to be Reported to DFI ActivityDFI licensees are reminded that Financial Code section 287 requires them to notify the commissioner of any change in the following officers, to...

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DFI Monthly Bulletin – December 2009

Monthly Bulletin Volume 13, Issue 6 - December 2009 Message from the Commissioner January 2010 Hello Everyone, A year ago at this time we were facing an extraordinary set of economic and financial conditions and absorbing the impact of a series of...

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DFI Monthly Bulletin – November 2009

Monthly Bulletin Volume 13, Issue 5 - November 2009 Premium Finance Company Assessment In accordance with Financial Code Sections 18350, 18351, and 18352, the Commissioner of Financial Institutions assessed all California insurance premium finance...

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DFI Monthly Bulletin – October 2009

Monthly Bulletin Volume 13, Issue 4 - October 2009 Annual Directors Conference - Banking in a New World Order: How to Survive & Thrive Commissioner William S. Haraf will be making a presentation on the challenges facing the industry and California...

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DFI Monthly Bulletin – September 2009

Monthly Bulletin Volume 13, Issue 3 - September 2009 Application Deadline for the Capital Assistance Program ("CAP") In order to ensure compliance with the previously announced funding deadline of November 9, 2009, qualifying institutions wishing to...

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DFI Monthly Bulletin – August 2009

Monthly Bulletin Volume 13, Issue 2 - August 2009 Commissioner Haraf on the Condition of the Banking and Credit Union Industries Second Quarter 2009 In August, Commissioner William Haraf addressed financial institution trade groups on the condition of...

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DFI Monthly Bulletin – July 2009

Monthly Bulletin Volume 13, Issue 01 - July 2009 Information on How to Bid on a Failing Bank As the headlines have announced, 72 banks nationwide have failed thus far in 2009 and, unfortunately, there are likely to be more. This however, may provide an...

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DFI Monthly Bulletin – June 2009

Monthly Bulletin Volume 12, Issue 12 - June 2009 Message from the Commissioner Hello, 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...

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DFI Monthly Bulletin – May 2009

June 08, 2009Monthly BulletinVolume 12, Issue 11 - May 2009Message from the CommissionerTo:  California State Chartered Financial InstitutionsFrom:  William S. Haraf, Commissioner of Financial InstitutionsRe:  On the Occasion of Our 100th AnniversaryHello...

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DFI Monthly Bulletin – April 2009

Monthly BulletinVolume 12, Issue 10 - April 2009Liquidation of First Bank of Beverly HillsOn April 24, 2009, the Commissioner of Financial Institutions took possession of First Bank of Beverly Hills, Calabasas, and ordered that it be Liquidated. The...

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DFI Monthly Bulletin – March 2009

Monthly BulletinVolume 12, Issue 9 - March 2009Senate Confirms Commissioner William S. HarafWilliam S. Haraf was confirmed by the California State Senate as Commissioner of Financial Institutions on March 23, 2009. The California Senate Rules Committee...

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DFI Monthly Bulletin – February 2009

Monthly BulletinVolume 12, Issue 8 - February 2009Liquidation of Alliance BankOn February 6, 2009, the Commissioner of Financial Institutions took possession of Alliance Bank and ordered that it be liquidated. The Commissioner then appointed the Federal...

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DFI Monthly Bulletin – January 2009

Monthly Bulletin Volume 12, Issue 7 - January 2009 Information Required from State-Chartered Banks Intending to Bid on Failing Institutions The Department of Financial Institutions (DFI) as primary regulator is required to provide clearance to the Federal...

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DFI Monthly Bulletin – December 2008

Volume 12, Number 6Message from the CommissionerJanuary 7, 2009To: California State Chartered Financial InstitutionsFrom: William S. Haraf, Commissioner of Financial InstitutionsRe: Ten “Watch List” Items for 2009 - 2010Hello Everyone,Many of us at the...

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DFI Monthly Bulletin – November 2008

Volume 12, Number 5DFI San Francisco Office to Relocate December 8On December 8, 2008 the Department of Financial Institutions (DFI) San Francisco Office will relocatefrom 111 Pine Street, Suite 1100 to 45 Fremont Street, Suite 1700, San Francisco, CA...

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DFI Monthly Bulletin – October 2008

Volume 12, Number 4Deadlines Approaching for Capital Purchase, Temporary Liquidity Guarantee ProgramsOn October 14, 2008, the U.S. government announced a series of initiatives to strengthen marketstability, improve the strength of financial institutions,...

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DFI Monthly Bulletin – September 2008

Volume 12, Number 4Message from the CommissionerOctober 6, 2008To: California State Chartered Financial InstitutionsFrom: William S. Haraf, Commissioner of Financial InstitutionsHello Everyone,We are currently living through one of the most tumultuous...

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DFI Monthly Bulletin – August 2008

Volume 12, Number 2Liquidity Risk ManagementRecent stresses in the credit and capital markets have exposed weaknesses in liquidity risk measurementand management systems.The Department of Financial Institutions (DFI) expects that all insured depository...

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DFI Monthly Bulletin – July 2008

Volume 12, Number 1Directors Institute - The Role of the Modern Bank DirectorCommissioner William S. Haraf will be making a presentation on the challenges facing the industry andCalifornia banking at the Western Independent Bankers Directors Institute...

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DFI Monthly Bulletin – June 2008

Volume 11, Number 12Message from the CommissionerTo: California State-Chartered Financial InstitutionsSubject: Benchmarking Bank and Credit Union PerformanceHello Everyone,As you know, the safety and soundness of our licensees is of vital interest to the...

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DFI Monthly Bulletin – May 2008

Volume 11, Number 11Message from the CommissionerMay 19, 2008Hello Everyone.Last month, I was sworn-in as Commissioner of Financial Institutions by Dale Bonner, Secretary ofBusiness, Transportation and Housing. I am grateful to the Governor for appointing...

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DFI Monthly Bulletin – April 2008

Volume 11, Number 10Foreclosure Roundtable with FDIC Chairman Sheila Bair The Department of Financial Institutions (DFI) participated in a foreclosure roundtable meeting withFDIC Chairman Sheila C. Bair on April 26, 2008 at the California Science Center in...

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DFI Monthly Bulletin – March 2008

Volume 11, Number 9William Haraf Appointed as Commissioner of Financial InstitutionsOn March 10, 2008, Governor Arnold Schwarzenegger announced the appointment of William Haraf,Ph.D, as Commissioner of Financial Institutions on March 10, 2008. Since 2005,...

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DFI Monthly Bulletin – February 2008

Volume 11, Number 8Commissioner's Regional Roundtable MeetingsThe Department of Financial Institutions (DFI), in conjunction with the Conference of State BankSupervisors (CSBS), is planning to host a series of regional roundtable meetings between...

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DFI Monthly Bulletin – January 2008

Volume 11, Number 7Responding to the Foreclosure CrisisMortgage Servicers Turning to Loan Modifications, Repayment Plans, Deedin Lieu Transactions and Short SalesMortgage servicers, faced with record high foreclosure rates are turning to loan...

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DFI Monthly Bulletin – December 2007

Volume 11, Number 6Reminder Notice to Banks and Trust Companies for IT SurveysOn November 5, 2007, the California Department of Financial Institutions (DFI) sent out an IT Surveyto all banks and trust companies licensed by us requesting this document to be...

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DFI Monthly Bulletin – November 2007

Volume 11, Number 5Non-Traditional Mortgage Survey ResultsIn September 2007 the Department of Financial Institutions (DFI) sent a survey to all 417 bank andcredit union licensees requesting information on non-traditional mortgage products as of August...

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DFI Monthly Bulletin – October 2007

Volume 11, Number 4Southern California Fires UpdateDue to the fire emergency in Southern California, Interim Commissioner of Financial Institutions CarolD. Chesbrough, authorized banks located in the counties of Los Angeles, Orange, Riverside,...

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DFI Monthly Bulletin – September 2007

Volume 11, Number 3Gov. Schwarzenegger to Sign Legislation to Protect California Homeowners and Homebuyers, Expand Affordable Housing OpportunitiesGovernor Urges Consumers Facing Foreclosure to Take Action To Save TheirHomes, Calls On Lenders To Help...

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DFI Monthly Bulletin – August 2007

Volume 11, Number 2California Senate Banking, Finance and Insurance Committee Hearing“Preserving the American Dream: Homeownership Preservation and theSubprime Mortgage Crisis”The Department of Financial Institutions (DFI) attended the third hearing on...

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DFI Monthly Bulletin – July 2007

Volume 11, Number 1Subprime Mortgage LendingThe Department of Financial Institutions expects all licensees to comply with the federal financialregulatory agencies’ “Statement on Subprime Mortgage Lending” issued June 29, 2007, to addressissues relating to...

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DFI Monthly Bulletin – June 2007

Volume 10, Number 12Diana Fong Appointed Chief Information OfficerDiana Fong was appointed Chief Information Officer effective June 8. Ms. Fong joined DFI in July2005 to head the Strategic Support and Policy Unit and has been Acting Chief Information...

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DFI Monthly Bulletin – May 2007

Volume 10, Number 11 Catherine Nahnsen-Robison Promoted to Financial Institution ManagerCatherine Nahnsen-Robison was promoted to Financial Institutions Manager for the San Diego / OrangeCounty region effective May 16, 2007. Ms. Nahnsen-Robison joined the...

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DFI Monthly Bulletin – April 2007

Volume 10, Number 10Douglas Kirkpatrick Appointed as DeputyCommissionerDepartment of Financial Institutions Commissioner Michael A. Kelley announced the appointment ofDouglas Kirkpatrick as Deputy Commissioner for the Department of Financial Institutions,...

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DFI Monthly Bulletin – March 2007

Volume 10, Number 9Craig Carlson Appointed Chief ExaminerCraig Carlson was appointed Senior Deputy Commissioner and Chief Examiner. Mr. Carlson willassume the Chief Examiner responsibilities in addition to his role as the Senior Deputy; consequentlyhis...

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DFI Monthly Bulletin – February 2007

Volume 10, Number 8Retirement of Brian YuenBrian Yuen retired on February 28, 2007 after almost 33 years of service with the Department. Mr.Yuen joined the State Banking Department, the predecessor agency to the Department of FinancialInstitutions on...

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DFI Monthly Bulletin – January 2007

Volume 10, Number 7Nontraditional Mortgage Product RisksIt is the expectation of the Department of Financial Institutions that all licensees comply with theOctober, 4, 2006 “Final Guidance on Nontraditional Mortgage Product Risks” (“Guidance”) issued bythe...

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DFI Monthly Bulletin – December 2006

Volume 10, Number 6Governor Appoints Michael A. Kelley as Commissioner of Financial InstitutionsGovernor Schwarzenegger announced the appointment of Michael A. Kelley as Commissioner ofFinancial Institutions on Thursday, December 28, 2006.Kelley has over...

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DFI Monthly Bulletin – November 2006

Volume 10, Number 5Warning NoticeIt has come to the attention of the Department of Financial Institutions that Power Pictures CreditUnion, allegedly located at 6200 Wilshire Boulevard, Suite 107, Los Angeles, California 90043, ispurporting to operate as a...

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DFI Monthly Bulletin – October 2006

Volume 10, Number 4Highlights of 2006 State Chaptered LegislationAttached is Highlights of 2006 State Chaptered Legislation. This summary is a compendium of most butnot all of the legislation that may have an impact on financial institutions. There is a...

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DFI Monthly Bulletin – September 2006

Volume 10, Number 3Local Agency Security ProgramCalled Report DueThe September 30, 2006 quarterly called reports for the Local Agency Security Program are due onOctober 30, 2006. All depositories must submit a timely called report. Failure to submit a...

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DFI Monthly Bulletin – August 2006

Volume 10, Number 2James Dong Appointed Chief Administrative OfficerActing Commissioner Michael A. Kelley appointed James Dong as the Chief Administrative Officer for the Department of Financial Institutions effective August 16, 2006. Mr. Dong has over 27...

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DFI Monthly Bulletin – July 2006

Volume 10, Number 1DFI Issues Cease and Desist Warning to Geneva World BancA warning to cease and desist from doing business in California without a license from theCommissioner of Financial Institutions was issued to Geneva World Banc, 34145 Pacific...

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DFI Monthly Bulletin – June 2006

Volume 9, Number 12Michael A. Kelley Appointed DFI Acting CommissionerEffective June 1, 2006, Michael A. Kelley has been appointed DFI Acting Commissioner by stateBusiness, Transportation and Housing Agency Secretary Sunne Wright McPeak on behalf of...

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DFI Monthly Bulletin – May 2006

Volume 9, Number 11DFI Receives National Accreditation from CSBSThe Department of Financial Institutions (DFI) has received professional accreditation from the Conference ofState Bank Supervisors (CSBS), certifying that DFI maintains the highest standards...

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DFI Monthly Bulletin – April 2006

Volume 9, Number 10Warning Notice\A warning to cease and desist from doing business in California without a license from theCommissioner of Financial Institutions was issued to Grant Trust Company, 8350 Wilshire Blvd., Suite200, Beverly Hills, CA,...

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DFI Monthly Bulletin – March 2006

Volume 9, Number 9Advisory NoticeThe California Department of Financial Institutions has lately received a number of complaints aboutStormPay, a money transmitter that is licensed by the Tennessee Department of Financial Institutions.California consumers...

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DFI Monthly Bulletin – February 2006

Volume 9, Number 8Winter Storms of 2005-06Acting Commissioner Brian Yuen urges Department of Financial Institutions’ licensees to review theirlending policies to give appropriate latitude to customers affected by severe wind, rain, flooding andmudslides...

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DFI Monthly Bulletin – January 2006

Volume 9, Number 7DFI and Antequera, Incorporated enter into a SettlementOn January 13, 2006, the Acting Commissioner of Financial Institutions entered into a settlementagreement with Antequera, Incorporated (“Antequera”) in which Antequera agreed to pay...

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DFI Monthly Bulletin – December 2005

Volume 9, Number 6Scott Harris Promoted to Financial Institution ManagerScott Harris was promoted to Assistant Deputy Commissioner of the Sacramento Office effectiveDecember 1, 2005. Mr. Harris joined the State Banking Department (now the Department of...

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DFI Monthly Bulletin – November 2005

Volume 9, Number 5DFI and Kelsea Thi Dao enter into a Settlement AgreementOn October 31, 2005, the Acting Commissioner of Financial Institutions entered into a settlementagreement with Kelsea Thi Dao (“Dao”), in which Dao agreed to pay $2,000 to the...

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DFI Monthly Bulletin – October 2005

Volume 9, Number 4Brian Yuen Appointed Acting CommissionerOn October 3, 2005 the Governor's Office appointed Brian Yuen as Acting Commissioner for theDepartment of Financial Institutions (DFI).Brian Yuen was appointed as the State Chief Examiner on July 1,...

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DFI Monthly Bulletin – September 2005

Volume 9, Number 3DFI Releases California Financial Information Privacy Act FAQsThe California Department of Financial Institutions published to its Web site a list of frequently-askedquestions (FAQs) about issues relating to Division 1.2 of the California...

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DFI Monthly Bulletin – August 2005

Volume 9, Number 2Howard Gould to Step Down as Commissioner of Financial InstitutionsHoward Gould has announced that he will be stepping down as Commissioner of Financial Institutions.Commissioner Gould was appointed by Governor Schwarzenegger on February...

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DFI Monthly Bulletin – July 2005

Volume 9, Number 1Diana Fong was appointed Staff Services Manager III in charge of the Strategic Support and Policy Uniteffective July 18. She brings 15 years of experience in management, leadership, strategic planning,continuous process improvement,...

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DFI Monthly Bulletin – June 2005

Volume 8, Number 12Key Personnel Changes in the San Diego OfficeAlbert Marquez was promoted to Financial Institution Manager, replacing Michael Curran, whoresigned effective June 10 to accept a position in the private sector. Mr. Marquez started with the...

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DFI Monthly Bulletin – May 2005

Volume 8, Number 11Peter Van Hoecke Appointed Legislative DeputyPeter Van Hoecke was appointed as the Legislative Deputy for the Department of Financial Institutions(DFI) effective . Mr. Van Hoecke will head up a re-organized Office of Legislation, Policy,...

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DFI Monthly Bulletin – April 2005

Volume 8, Number 10Speeches and Presentations by DFI CommissionerHoward GouldSpeeches and presentations by DFI Commissioner Howard Gould are posted to the DFI Web site as theyoccur. The following presentations were posted during the month:· April 27, 2005...

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DFI Monthly Bulletin – March 2005

Volume 8, Number 9Comment to Regulatory Changes SoughtFederal regulators propose changes to commercial credit exposureclassificationThe Department of Financial Institutions (DFI) encourages its bank licensees to provide comment onfederal proposals to...

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DFI Monthly Bulletin – February 2005

Volume 8, Number 8Annual Fees for Money Transmitters The annual fees that money transmitters are required to pay pursuant to Financial Code section 1801(a)will be based solely from the information on the number and location of licensee branches,...

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DFI Monthly Bulletin – January 2005

Volume 8, Number 7Transmitter of Money Abroad Voluntarily Suspends its California OperationsJOM Corporation of Illinois (dba Majapara), has voluntarily suspended its California operationseffective January 15, 2005. Contact information for JOM is Patricia...

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DFI Monthly Bulletin – December 2004

Volume 8, Number 6DFI Issues Cease and Desist Warning to Malibu Trust CompanyA warning to cease and desist from doing business in California without a license from theCommissioner of Financial Institutions was issued to Malibu Trust Company, 418 Santa Rosa...

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DFI Monthly Bulletin – November 2004

Volume 8, Number 5Insurance Premium Finance Company Assessment DueInvoices for the insurance premium finance company assessment were mailed on November 30, 2004.The amount of the assessment on each insurance premium finance company is...

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DFI Monthly Bulletin – October 2004

Volume 8, Number 4Highlights of 2004 State Chaptered LegislationAttached is “Highlights of 2004 State Chaptered Legislation.” This summary is a compendium of mostbut not all of the legislation that may have an impact on financial institutions. There is a...

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DFI Monthly Bulletin – September 2004

Volume 8, Number 3Kenneth Sayre-Peterson Promoted to Assistant Chief CounselSenior Counsel Kenneth Sayre-Peterson was promoted to Assistant Chief Counsel on September 1, 2004.Mr. Sayre-Peterson graduated from the McGeorge School of Law in 1983. He was in...

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DFI Monthly Bulletin – August 2004

Volume 8, Number 2DFI to Roll out New Post Examination Survey and CAMELS RatingAs a means of improving our ability to evaluate our quality of service and our effectiveness of supervision, theDepartment of Financial Institutions (DFI) will roll out a new...

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DFI Monthly Bulletin – July 2004

Volume 8, Number 1Administrative Changes at DFILeadership resources positioned to achieve critical objectivesSeveral changes to key administrative positions within the Department took place effective July 1, 2004. Aspreviously announced, Chief Examiner,...

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DFI Monthly Bulletin – June 2004

Volume 7, Number 12Chief Examiner David L. Scott RetiresDavid L. Scott retired on June 1, 2004 after 32 years with the Department. Mr. Scott joined the CaliforniaState Banking Department in August 7, 1972 as a junior examiner and held a variety of...

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DFI Monthly Bulletin – May 2004

Volume 7, Number 11Senate Confirms Commissioner Howard GouldHoward Gould was confirmed by the California State Senate as Commissioner of Financial Institutions onMay 17, 2004. Governor Schwarzenegger appointed Gould as Commissioner effective March 2,...

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DFI Monthly Bulletin – April 2004

Volume 7, Number 10National Community Development Lending SchoolThe Federal Reserve Bank of San Francisco and the Federal Reserve Bank of Minneapolis haveannounced that the 2004 National Community Development Lending School (NCDLS) will be held at...

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DFI Monthly Bulletin – March 2004

Volume 7, Number 9A Message to our Email SubscribersAlmost one year ago the Department of Financial Institutions (DFI) stopped sending out the Bulletin inhard copy and began sending it via email. Recently, we noticed that a number of our list members...

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DFI Monthly Bulletin – February 2004

Volume 7, Number 8Governor Appoints Howard Gould as Commissioner of Financial InstitutionsGovernor Schwarzenegger appointed Howard Gould as Commissioner of Financial Institutions on Friday,February 6, 2004. Gould will take office effective Tuesday March 2,...

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DFI Monthly Bulletin – January 2004

Volume 7, Number 7San Diego Office RelocationEffective February 2, 2004, the San Diego Regional Office will relocate to 7575 Metropolitan Drive,Suite 108, San Diego, CA 92108. All phone numbers for the San Diego office and personnel will changewith this...

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DFI Monthly Bulletin – December 2003

Volume 7, Number 6FINCEN Adopts Revised CTR FormThe Financial Crimes Enforcement Network (FINCEN) has modified the Currency Transaction Report(“CTR”) form to facilitate the recording of the movement and exchange of foreign currency in excess of$10,000. The...

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DFI Monthly Bulletin – November 2003

Volume 7, Number 5Money Transmitters Must Have Minimum $500,000 Tangible Shareholders EquityNew Law Takes Effect January 1, 2004Beginning January 1, 2004, all money transmitters must at all times maintain a minimum of $500,000 intangible shareholders’...

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DFI Monthly Bulletin – October 2003

Volume 7, Number 4MTRA Elects Robert Venchiarutti SecretaryActing Deputy Commissioner Elected at Annual ConferenceActing Deputy Commissioner Robert Venchiarutti was elected secretary of the Money TransmittersRegulators Association (MTRA) at its annual...

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DFI Monthly Bulletin – September 2003

Volume 7, Number 3Managing Commercial Real Estate ConcentrationsA message from the Chief State Examiner, David ScottTen years ago today we were wrapping up the final documentation from the failure of Maritime Bank ofCalifornia, and preparing for the...

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DFI Monthly Bulletin – August 2003

Volume 7, Number 2Live Scan Fingerprinting Required For Money Transmitter ApplicationsEffective immediately, money transmitter licensees must submit fingerprints by using Live Scan, ratherthan fingerprint cards, whenever they submit an application for an...

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DFI Monthly Bulletin – July 2003

Volume 7, Number 1Investing in Securities Know the requirements of Financial Code sections 772, 782 and 1336Recently, it has come to the attention of the Department that there is some confusion with regard to thetypes of investments in securities that are...

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DFI Monthly Bulletin – June 2003

Volume 6, Number 12Investments in Mortgage Backed SecuritiesThe Department of Financial Institutions has noted a significant increase in the amount invested byCalifornia state-chartered banks in mortgage backed securities (“MBS”), and the related...

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DFI Monthly Bulletin – May 2003

Volume 6, Number 11DFI to Stop Mailing the Monthly BulletinPublication to be distributed by e-mail, DFI Web siteThe Department of Financial Institutions (DFI) will stop mailing the Monthly Bulletin. This will enableDFI to significantly reduce its...

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DFI Monthly Bulletin – April 2003

Volume 6, Number 10Women Providing Help to al-Qaeda FBI WarnsThe Federal Bureau of Investigation (FBI) is telling law enforcement agencies across the nation to beaware that the al-Qaeda terrorist network may be using women to carry messages, handle...

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DFI Monthly Bulletin – March 2003

Volume 6, Number 9April is Financial Literacy Month in CaliforniaGovernor Davis will again declare the month of April as “California Financial Literacy Month.” Thisspecial observance month is meant to promote youth and adult financial literacy and...

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DFI Monthly Bulletin – February 2003

Volume 6, Number 8Closing of Southern Pacific BankOn Friday, February 7, 2003, the Commissioner of Financial Institutions took possession of SouthernPacific Bank, Torrance and ordered that it be liquidated. The Commissioner then tendered to the...

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DFI Monthly Bulletin – January 2003

Volume 6, Number 7DFI to Publish Certain Enforcement Actions in the Monthly BulletinIn the July 2002 issue of the Monthly Bulletin, the Department of Financial Institutions (DFI) announced that itwould commence publishing notice of certain regulatory...

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DFI Monthly Bulletin – December 2002

Volume 6, Number 6DFI Launches New Web SiteThe Department of Financial Institutions (DFI) introduced a redesigned Web site in December to betterserve our customers. The site content has been substantially expanded, and has been designed tofacilitate its...

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Monthly Bulletin – November 2002

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 6, Number 5 November, 2002 California Credit Unions...

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Monthly Bulletin – October 2002

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 6, Number 4 October, 2002 Highlights of 2001 Legislation...

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Monthly Bulletin – September 2002

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 6, Number 3 September, 2002 Debt...

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Monthly Bulletin – August 2002

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 6, Number 2 August, 2002 Seven Defendants Prosecuted on...

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Monthly Bulletin – July 2002

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 6, Number 1 July, 2002 Compliance with the Provisions of...

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Monthly Bulletin – June 2002

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 5, Number 12 June, 2002 DFI Endorses FDIC Goals to Make...

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Monthly Bulletin – May 2002

State of CaliforniaGray Davis, GovernorBusiness Transportation and Housing AgencyMaria Contreras-Sweet, SecretaryDepartment of Financial Institutionshttp://www.dfi.ca.govMonthly BulletinVolume 5, Number 11May, 2002Extraordinary Situation – TerrorismAs a...

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Monthly Bulletin – April 2002

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 5, Number 10 April, 2002 Paul Crayton Selected as...

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Banking Law Order Form

ORDER FORM TO:    Department of General Services           Materials Management           Publications Unit...

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Monthly Bulletin – March 2002

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 5, Number 9 March, 2002 Julio Prada Promoted to...

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Monthly Bulletin – February 2002

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 5, Number 8 February, 2002 Financial Code...

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Monthly Bulletin – January 2002

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 5, Number 7 January, 2002 DFI Sacramento Regional Office...

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Monthly Bulletin – December 2001

State of CaliforniaGray Davis, GovernorBusiness Transportation and Housing AgencyMaria Contreras-Sweet, SecretaryDepartment of Financial Institutionshttp://www.dfi.ca.govMonthly BulletinVolume 5, Number 6December, 2001Franklin Hom Selected as Financial...

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Monthly Bulletin – November 2001

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 5, Number 5 November, 2001 Money...

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Monthly Bulletin – October 2001

State of CaliforniaGray Davis, GovernorBusiness Transportation and Housing AgencyMaria Contreras-Sweet, SecretaryDepartment of Financial Institutionshttp://www.dfi.ca.govMonthly BulletinVolume 5, Number 4October, 2001DFI Licensees Directed to Comply with...

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Monthly Bulletin – September 2001

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 5, Number 3 September, 2001 Arlene...

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Monthly Bulletin – August 2001

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 5, Number 2 August, 2001 DFI Training Conference...

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Monthly Bulletin – July 2001

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 5, Number 1 July, 2001 Commissioner Approves...

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Monthly Bulletin – June 2001

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 4, Number 12 June, 2001 Governor Davis...

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Monthly Bulletin – May 2001

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 4, Number 11 May, 2001 Advisory Notice The Department of...

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Monthly Bulletin – April 2001

Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 4, Number 10 April, 2001 Brian Yuen Appointed Deputy...

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Message from Maria Contreras-Sweet

Energy Message from Maria Contreras-Sweet With summer’s peak energy usage months soon upon us, Governor Davis has proposed a clear, effective, and affordable three-pronged answer to the energy challenge. Stabilization. Governor Gray Davis...

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Monthly Bulletin – March 2001

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 4, Number 9 March, 2001 Message From Maria...

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Monthly Bulletin – February 2001

State of CaliforniaGray Davis, GovernorBusiness Transportation and Housing AgencyMaria Contreras-Sweet, SecretaryDepartment of Financial Institutionshttp://www.dfi.ca.govMonthly BulletinVolume 4, Number 8February, 2001DFI Seeking Comments Regarding Credit...

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Monthly Bulletin – January 2001

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 4, Number 7 January, 2001 Message from the...

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Monthly Bulletin – December 2000

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 4, Number 6 December, 2000 Deputy...

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Monthly Bulletin – November 2000

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 4, Number 5 November, 2000 John Connell New...

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Monthly Bulletin – October 2000

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 4, Number 4 October, 2000 Governor Davis...

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Monthly Bulletin – September 2000

State of California Gray Davis, Governor Business Transportation and Housing Agency Maria Contreras-Sweet, Secretary Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 4, Number 3 September, 2000 Rosemarie Oda...

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Monthly Bulletin – August 2000

State of California Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 4, Number 2 August, 2000 Collateral Dependent Lending It is the expectation of the Department of Financial Institutions that all loans and...

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Monthly Bulletin – July 2000

State of California Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 4, Number 1 July, 2000 Help DFI Make E-Government Work To improve our service to the public and the industry, the Department of Financial...

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Monthly Bulletin – June 2000

State of California Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 3, Number 12 June, 2000 Carol Chesbrough Appointed Acting Chief Deputy Commissioner Jan Lynn Owen, Chief Deputy Commissioner resigned...

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Monthly Bulletin – May 2000

State of CaliforniaDepartment of Financial Institutionshttp://www.dfi.ca.govMonthly BulletinVolume 3, Number 11May, 2000Retirement of Mr. James F. CarrigOn May 15, 2000 Commissioner Donald R. Meyer and Chief Deputy Commissioner Jan Lynn Owen announced to...

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Monthly Bulletin – April 2000

State of California Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 3, Number 10 April, 2000 Message from the Commissioner I am pleased Governor Gray Davis appointed me as Commissioner of Financial Institutions on April...

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Monthly Bulletin – March 2000

State of California Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 3, Number 9 March, 2000 The Department is beginning the process of developing a Strategic Plan for the next five years. As part of that process we are...

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Monthly Bulletin – February 2000

State of California Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 3, Number 8 February, 2000 New Financial Institutions Manager for the Credit Union Division in Northern California Acting Commissioner, Jan Lynn Owen is...

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Monthly Bulletin – January 2000

State of California Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 3, Number 7 January, 2000 Examiner Awarded by Education Foundation of State Bank Supervisors Acting Commissioner, Jan Lynn Owen is pleased to announce...

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