DFI Announces Retirement of Chief Deputy Commissioner Carol Chesbrough

(Sacramento, CA) – The California Department of Financial Institutions (DFI) today announced the retirement of Carol Chesbrough, Chief Deputy Commissioner. Ms. Chesbrough will conclude her long and distinguished state service career of more than 32 years on June 30, 2011.

“Carol Chesbrough’s career, spanning over three decades of state service, eleven years at DFI, stands as a testament to her dedication to the Department and the State of California,” said DFI Commissioner William S. Haraf. “She has been a great leader of this department. Her vision and dedication, along with her many important contributions, are greatly appreciated and will long be remembered by all of us who have had the privilege to work with her.”

Ms. Chesbrough was appointed as DFI’s Chief Deputy Commissioner in 2000. She served as Interim Commissioner when the Commissioner position was vacant in 2007 and 2008. Carol served on the State Conference of State Banking Supervisors (CSBS) Educational Foundation for ten years, including two years as Chair. Carol testified on behalf of DFI before the Little Hoover Commission, the Legislature and other state government bodies.

Chief Deputy Chesbrough established the DFI Leadership Development Academy as a way to prepare future leaders of the Department. Always a proponent of effective and efficient government, she established the Performance Improvement Council at the Business, Transportation and Housing Agency. Carol initiated a DFI All Staff Training Conference and promoted and supported strategic planning and performance metrics. Carol received the DFI Commissioner’s Award in 2008 recognizing her contributions to the Department.

Carol received her law degree from the University of the Pacific, McGeorge School of Law. She began her legal career with the California Fifth District Court of Appeal, later moving to the Attorney General’s Office. She served as the Director of Marketing at the Department of Food and Agriculture and as the Chief Counsel for the California Complete Count Committee.

Maintaining the integrity of financial services remains the primary mission of the DFI. The DFI oversees the secure operation of California’s state-chartered financial institutions. The DFI ensures public confidence in financial institutions by protecting the interests of depositors, borrowers, shareholders and consumers through enforcement of state laws. In addition to posting information about the DFI and its licensees, the DFI’s website features consumer tips on a variety of financial topics and consumer information brochures in seven languages. The DFI is a state regulatory department housed within the Business, Transportation and Housing Agency.

For more information about the DFI visit www.dfi.ca.gov.

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