Calif. Could Soon Create 'Mini-CFPB': 5 Things To Know
Law360 (September 8, 2020, 10:20 PM EDT) -- California's financial services regulator could soon get an upgrade after state lawmakers passed legislation that would revamp the agency in the image of the U.S. Consumer Financial Protection Bureau, signaling an increased focus on fintech in particular.
In a last-minute push last week before adjourning for the year, legislators in Sacramento sent the California Consumer Financial Protection Law to Gov. Gavin Newsom for his expected approval, moving the state one step closer to realizing plans he and other Democrats have championed to beef up its regulation of the financial services industry.
To that end, the CCFPL calls for transforming the state's...
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