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The Impact Of The Dodd-Frank Act On California Financial Institutions

Bill Haraf, Commissioner of Financial Institutions, was one of the many witnesses who testified last week at the California legislature’s joint informational hearing entitled “The Dodd-Frank Wall Street Reform and Consumer Protection Act: Initial Reactions, Initial Steps and Likely Impacts”.  The California Department of Financial Institutions regulates state chartered banks and credit unions (When I…

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From DFI to CSBS to FSOC

Section 111 of the Dodd Frank Wall Street Reform and Consumer Protection Act established the Financial Stability Oversight Council (FSOC).  In fact, the FSOC had its first meeting on October 1.  Although all of the voting members (with one exception) are members by virtue of their position as federal officials, California did have one seat…

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