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March 13, 2008 - California Governor Arnold Schwarzenegger announced the appointment of William Haraf, Ph.D as the commissioner of financial institutions for the California Department of Institutions (DFI) on March 10.
Most recently, Haraf served as an independent consultant with the Promontory Financial Group and a visiting professor of economics and finance for the Graduate School of Management at the University of California, Davis. He was also a senior vice president of strategic policy development and planning for Bank of America. In addition from 1984 to 1985, Haraf was special assistant to the chairman of President Ronald Reagan’s Council of Economic Advisors and, from 1983 to 1984, was senior staff economist at the Council.
Carol Chesbrough has been serving as interim commissioner since September 2007 when Michael Kelly left the agency. Haraf’s appointment requires Senate confirmation.
The California agency supervises 196 state-chartered credit unions.
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