HONOLULU - Dwight Young has been named the Commissioner of Financial Institutions for the state of Hawai’i Department of Commerce and Consumer Affairs (DCCA) Division of Financial Institutions (DFI), effective November 1. He has been serving as acting Banking Commissioner since August 1, following the retirement of Iris Ikeda. As Commissioner of Financial Institutions, Young serves as the state’s Banking Commissioner and is responsible for the overall policies and operations of DFI.

The Commissioner of Financial Institutions ensures the safety and soundness of state-chartered and state-licensed financial institutions and ensures regulatory compliance by fairly administering applicable statutes and rules, in order to protect the rights and funds of depositors, borrowers, consumers and other members of the public. DFI consists of two branches, the Examination Brach and the Licensing and Regulatory Analysis Branch. The Examination Branch is responsible for on-site examinations of financial institutions, escrow depositories, money transmitters, mortgage loan originators, and mortgage loan originator companies while the Licensing and Regulatory Analysis Branch is responsible for licensing activities, regulatory approvals and the off-site monitoring program.

Young joined the Division of Financial Institutions in 2008 as a Licensing Examiner and became Licensing Manager in 2015. Prior to joining DFI, he had a 20-year career in banking as an Operations Manager and Branch Manager.

“Experience as a banker in the local community has enriched my perspective as a public servant and regulator. I have experienced both sides of the financial industry and more importantly have assisted consumers from both perspectives,” said Young.

“We are excited to have Dwight Young take on this leadership role as the state’s Banking Commissioner,” said Nadine Ando, director of the Department of Commerce and Consumer Affairs. “His background in the financial industry paired with his commitment to the community make him a valuable advocate for Hawai’i consumers.”

Following the devastation caused by the Maui Wildfires, DFI assisted at the Disaster Recovery Center on Maui and conducted multiple in-person mortgage service events to help the people affected by the wildfires connect with appropriate resources. DFI worked closely with federal counterparts to ensure that individuals and families who lost their homes would receive support. This joint initiative provided essential assistance to affected residents, helping them to rebuild their lives and communities. By coordinating resources and actions across various agencies, those impacted by the crisis received meaningful support to begin recovery.

Young is a graduate of St. Louis High School and received his undergraduate degree in business administration from the University of Hawai’i.