The Department of Financial Protection and Innovation (DFPI) provides protection to consumers and services to businesses engaged in financial transactions in the state of California. The Department regulates a variety of financial services, products and professionals, overseeing the operations of state-licensed financial institutions, including banks, credit unions, money transmitters, issuers of payment instruments and travelers checks, and premium finance companies. Additionally, the DFPI licenses and regulates a variety of securities brokers and dealers, investment advisers, deferred deposit (commonly known as payday loans), certain fiduciaries and lenders, and the offer and sale of securities, franchises and off-exchange commodities.