American Banker has reported that Manny Alvarez, Commissioner of  the California Department of Financial Protection and Innovation, will be leaving the agency on June 18, 2021. 

According to the report, Governor Newsom is expected to name Chief Deputy Commissioner Chris Shultz, who is currently second in command at the DFPI, Acting Commissioner.

Commissioner Alvarez was

After discussing the pandemic’s impact on the DFPI’s activities, Commissioner Alvarez discusses the DFPI’s focus on diversity and inclusion, its creation of a new registration system for financial services companies, and its approach to enforcement priorities.  The Commissioner also spoke to the impact of a Biden Administration, including possible areas of collaboration with the CFPB,