Jurisdiction California Founded 1 July 2013 | Website www.dbo.ca.gov Headquarters Sacramento | |
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Formed July 1, 2013 (2013-07-01) Preceding agencies Department of Financial Institutions
Department of Corporations Department executive Jan Lynn Owen, Commissioner Parent department California Business, Consumer Services and Housing Agency Predecessors California Department of Corporations, California Department of Financial Institutions | ||
The California Department of Business Oversight (DBO) is a department of the Business, Consumer Services and Housing Agency (BCSH) that regulates a variety of financial services, products and professionals.
Organization
The Division of Corporations (DOC), formerly the Department of Corporations, provides consumer protections, licenses and regulates securities brokers and dealers, investment advisers and financial planners, consumer and commercial lenders including mortgage lenders, deferred deposit or payday lenders, escrow companies, and certain other fiduciaries, and regulates the offer and sales of securities, franchises and off-exchange commodities.
The Division of Financial Institutions (DFI), formerly the Department of Financial Institutions, oversees the operations of state-licensed financial institutions, including banks, credit unions, industrial banks, savings associations, trust companies, foreign banking organizations, business and industrial development corporations, money transmitters, issuers of payment instruments and travelers checks, and premium finance companies.