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CDBO meaning in Business ?

Answer» What is California Department of Business Oversight mean?

The California Department of Financial Protection and Innovation (DFPI), formerly the Department of Business Oversight (DBO), regulates a variety of financial services, businesses, products, and professionals. The department operates under the California Business, Consumer Services and Housing Agency.

The DFPI protects California consumers and oversees the operations of state-licensed financial institutions, including banks, credit unions, debt collectors, nonbank mortgage lenders, student loan servicers, money transmitters, and others. Additionally, the department licenses and regulates a variety of financial businesses, including securities brokers and dealers, investment advisers, payday lenders, certain fiduciaries, and nonbank lenders. The department also regulates the offer and sale of securities, franchises, and off-exchange commodities.

As of June 19, 2021, Acting Commissioner Christopher S. Shultz leads the department, which has offices in Sacramento, San Francisco, Los Angeles, and San Diego.

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