Savings can replace stress with security. They’re also the cornerstone for big life goals, like an education for the kids, or a downpayment on a house. We help Californians save, make smart money decisions, and understand their rights through our education and advocacy guides and materials. We also ensure a level playing field by regulating institutions like banks, credit unions, and financial service providers.
Featured Resources
Personal Finance for Couples: Managing Joint Finances
Money is a common cause of stress in relationships, and if left unaddressed, it can impact more than just your wallet. Follow these tips to help you manage joint finances in a marriage or partnership.
Savings and planning for retirement
Sound money advice from DFPI.
New Year, New Financial Goals
Follow these eight tips to help you set your financial goals for the coming year and create a plan for successfully achieving them
Useful Terms
Interest Rate
The interest rate is the percentage that a bank, credit union or other financial institution pays you for parking your cash in a savings account. (Note: Generally speaking, the higher the rate, the better!)
Compounding
Annual Percentage Yield (APY)
Annual Percentage Yield (APY) is the sum of your compounding rate and interest rate that tells you what you’ll earn from your savings account.
Monthly Maintenance Fee
Banks can charge a monthly fee for “maintaining” your savings account, which they unsurprisingly call a Monthly Maintenance Fee.
Overdraft Protection
Overdraft protection links your savings account to your checking account to cover times when your checking goes into the red.
Direct Deposit
Direct deposit can make saving and reaching your goals easier by transferring wages or other funds straight into your savings account.
FDIC Insurance
The Federal Deposit Insurance Corporation (FDIC) insures deposits in banks and savings institutions up to a certain limit, known as FDIC Insurance.
Other Useful Links
- Savings rule to live by: Guide and worksheet, part of the helpful “Money rules to live by” series from the Consumer Financial Protection Bureau
- Options for storing your savings: A very useful guide to the benefits and risks of the leading savings options.
- Three simple things you can do to improve your finances: Part of the smart, easy-to-use Smarter Living series from the New York Times.
Other Recent Consumer Alerts and Insights
Consumer Insights
7 Tips for First-Time Homebuyers
Buying your first home can be exciting—and stressful. In the homebuying process, many financial questions are sure to arise. Follow these tips to get started.
Consumer Insights
7 Tips for First-Time Homebuyers
Nov 20, 2024
Buying your first home can be exciting—and stressful. In the homebuying process, many financial questions are sure to arise. Follow these tips to get started.
Alerts
DFPI Imposter Asking for Account Information to “Disburse Victim Funds”
Nov 18, 2024
The California Department of Financial Protection and Innovation (DFPI) has received information about scammers fraudulently claiming to be from the “Department of Financial Protection and Innovation”, using the email address [email protected].
Alerts
Información para los clientes de Sigue Corporation
Nov 14, 2024
A partir del 22 de octubre de 2024, los procedimientos para presentar un reclamo por transacciones no pagadas con Sigue Corporation han cambiado.
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Resources and Publications
Industries we regulate
- Commercial Banks
- Industrial Banks
- Public Banks
- Credit Unions
- Trust Services
- Securities
- Franchises
- Capital for Businesses
- Broker-Dealers & Investment Advisers
- Money Transmitters
- Debt Collectors
- Check Sellers, Bill Payers & Proraters
- Consumer & Commercial Loans
- Payday Lenders
- Insurance Premium Finance
- Residential Mortgage Lenders
- Mortgage Loan Originators
- Property Assessed Clean Energy (PACE)
- Escrow
- Student Loan Servicers