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 recently our special guest for a podcast about developments at the DFPI. We hold Commissioner Alvarez in high regard and wish him the best in his future endeavors.