Important Notices

March 05, 2009

Senate Rules Committee Votes 5-0 in support of Confirmation of Commissioner William S. Haraf


The California Senate Rules Committee voted 5-0 in support of confirmation of Commissioner William S. Haraf. Governor Schwarzenegger appointed Haraf as Commissioner effective March 10, 2008 and he was sworn in by Business, Transportation and Housing Agency Secretary Dale E. Bonner on April 8, 2008.

Below are comments from Commissioner Haraf:

Dear Readers:

I am pleased to report that on March 4, 2009, the Senate Rules Committee voted 5-0 in favor of my confirmation. The full Senate will take my confirmation up within two weeks, but that process is generally pro forma. I very much appreciate the expressions of support I received in connection with my hearing. It was truly gratifying. As you are fully aware, the current environment is as difficult as any we have seen in our lifetimes. Nonetheless, as I said in my opening statement at the confirmation hearing, despite everything we have seen and read about the condition of the largest financial institutions in the country, the vast majority of financial institutions licensed by DFI are healthy and operating with good capital cushions. Most of us have come to appreciate that this contrast is often lost on the public. Consequently I try to deliver that message at every opportunity.

Our mission at DFI is to protect and serve California citizens through the effective regulation and supervision of our licensees. This is a team effort on the part of our Department, and I have come to appreciate the high level of commitment displayed by DFI employees in times like these. You have my pledge that we will continue to exercise our duties in a thoughtful, responsible way in these challenging times.


William S. Haraf
Department of Financial Institutions
45 Fremont St., San Francisco, CA 94105