Calcium-dependent, calmodulin-stimulated protein phosphatase which plays an essential role in the transduction of intracellular Ca(2+-mediated signals. Many of the substrates contain a PxIxIT motif and/or a LxVP motif. In response to increased Ca(2+ levels, dephosphorylates and activates phosphatase SSH1 which results in cofilin dephosphorylation. In response to increased Ca(2+ levels following mitochondrial depolarization, dephosphorylates DNM1L inducing DNM1L translocation to the mitochondrion. Dephosphorylates heat shock protein HSPB1 (By similarity. Dephosphorylates and activates transcription factor NFATC1. In response to increased Ca(2+ levels, regulates NFAT-mediated transcription probably by dephosphorylating NFAT and promoting its nuclear translocation. Dephosphorylates and inactivates transcription factor ELK1. Dephosphorylates DARPP32. May dephosphorylate CRTC2 at 'Ser-171' resulting in CRTC2 dissociation from 14-3-3 proteins. Dephosphorylates transcription factor TFEB at 'Ser-211' following Coxsackievirus B3 infection, promoting nuclear translocation.,PPP3CA,CALN,CALNA,CALNA1,CCN1,CNA1,PPP2B,Signal Transduction,ErbB-HER Signaling Pathway,Cell Biology & Developmental Biology,Cytoskeleton,Actins,Immunology & Inflammation,B Cell Receptor Signaling Pathway,T Cell Receptor Signaling Pathway,Neuroscience,Calcium Signaling,Neurodegenerative Diseases,PPP3CA