Section 111 of the Dodd Frank Wall Street Reform and Consumer Protection Act established the Financial Stability Oversight Council (FSOC).  In fact, the FSOC had its first meeting on October 1.  Although all of the voting members (with one exception) are members by virtue of their position as federal officials, California did have one seat (albeit non-voting) at the council table.  Commissioner of Financial Institutions William Haraf filled the seat allocated to a "state banking supervisor, to be designated by a selection process determined by the State banking supervisors".  He was selected to serve by the Conference of State Bank Supervisors (CSBS), which is an organization for state bank regulation, representing the bank regulators of the 50 states, the District of Columbia, Guam, Puerto Rico, and the Virgin Islands.  The Dodd-Frank Act also specifies that a state securities commissioner is a non-voting member of the FSOC.  Unfortunately, California didn't get that position as well.