Skip to content

Menu

ChannelsPublishersSubscribe
LexBlog, Inc. logo
LexBlog, Inc. logo
ProductsSub-MenuBlogsPortalsTwentySyndicationMicrositesResource Center
Join
Search
Close
Join the Movement. Blog 4 Good

CFPB California Style: New Name Is Just the Start for a Much More Powerful Regulator

By Nancy Thomas & Joseph Gabai on September 1, 2020
EmailTweetLikeLinkedIn

California has become the latest state to create its own mini Consumer Financial Protection Bureau (CFPB). As part of the 2020-21 budget, Governor Gavin Newsom set in motion a reorganization and significant expansion of the authority of the California banking regulator, the Department of Business Oversight (DBO). This reorganization includes a new name (the “Department of Financial Protection and Innovation” or DFPI), greatly expanded examination and enforcement resources, new licensing and examination authority, and a new law (the “California Consumer Financial Protection Law” or CCFPL) that gives the regulator unfair, abusive, or deceptive acts or practices (UDAAP) and other authority mirroring the CFPB’s authority under Dodd-Frank Act Title X.
In this Client Alert, we outline the governor’s justification for and reorganization of the DBO into the DFPI. In a companion Client Alert, we highlight the key provisions in the CCFPL.

  • Posted in:
    Financial
  • Blog:
    MoFo ReEnforcement: The Enforcement Blog
  • Organization:
    Morrison & Foerster LLP
  • Article: View Original Source

Stay Connected

Facebook LinkedIn Twitter RSS
Real Lawyers

Company

  • About LexBlog
  • Careers
  • Press
  • Contact LexBlog
  • Privacy Policy
  • Editorial Policy
  • Disclaimer
  • Terms of Service
  • RSS Terms of Service

Products

  • Products
  • Blogs
  • Portals
  • Twenty
  • Syndication
  • Microsites

Support

  • 1-800-913-0988
  • Submit a Request
  • Support Center
  • System Status
  • Resource Center

New to the Network

  • Red Clover Advisors Blog
  • Plane-ly Spoken
  • FCC Law Blog
  • California Employment Law
  • Privacy Compliance & Data Security
Copyright © 2021, LexBlog, Inc. All Rights Reserved.
Powered By LexBlog