California Governor Eyes Creating State Consumer Protection Bureau

State law to expand consumer protections and debt collection regulations expected in budget proposal.

1/10/2020 8:00 AM

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California Governor Eyes Creating State Consumer Protection Bureau

The state of California is budgeting for its own consumer protection bureau in 2020/21 that would reportedly include state oversight of debt collectors.

The Los Angeles Times reports California Gov. Gavin Newsom will include a “California Consumer Financial Protection Law” as part of its 2020/21 proposed state budget.

Details on the proposed state bureau and law, according to The Los Angeles Times currently include:

  • The bureau would be a state version of the Consumer Financial Protection Bureau;
  • It would be named the Department of Financial Protection and Innovation and revamp the state’s current Department of Business Oversight; and
  • It would on state licensing of financial institutions as well as greater consumer protection and oversight of financial practices.

In the Los Angeles Times report, business columnist David Lazarus says more details will be available when Gov. Newsom officially releases the state’s proposed budget.

ACA International will continue to follow this story.


Follow ACA International on Twitter @ACAIntl and @acacollector, Facebook and request to join our LinkedIn group for news and event updates. ACA International members are welcome to submit news items for possible publication to comm@acainternational.org. Visit our publications page for news submission guidelines and subscriptions to ACA Daily, Collector magazine and Pulse.

Advertising is available for companies wishing to promote their products or services. Be sure to visit the ACA Events Calendar on the Education and Training page to view our listing of upcoming CORE Curriculum and Hot Topic seminars featuring critical educational opportunities for your company.


Subscribe to ACA Daily NEWSROOM

California Governor Eyes Creating State Consumer Protection Bureau

The state of California is budgeting for its own consumer protection bureau in 2020/21 that would reportedly include state oversight of debt collectors.

The Los Angeles Times reports California Gov. Gavin Newsom will include a “California Consumer Financial Protection Law” as part of its 2020/21 proposed state budget.

Details on the proposed state bureau and law, according to The Los Angeles Times currently include:

  • The bureau would be a state version of the Consumer Financial Protection Bureau;
  • It would be named the Department of Financial Protection and Innovation and revamp the state’s current Department of Business Oversight; and
  • It would on state licensing of financial institutions as well as greater consumer protection and oversight of financial practices.

In the Los Angeles Times report, business columnist David Lazarus says more details will be available when Gov. Newsom officially releases the state’s proposed budget.

ACA International will continue to follow this story.


Follow ACA International on Twitter @ACAIntl and @acacollector, Facebook and request to join our LinkedIn group for news and event updates. ACA International members are welcome to submit news items for possible publication to comm@acainternational.org. Visit our publications page for news submission guidelines and subscriptions to ACA Daily, Collector magazine and Pulse.

Advertising is available for companies wishing to promote their products or services. Be sure to visit the ACA Events Calendar on the Education and Training page to view our listing of upcoming CORE Curriculum and Hot Topic seminars featuring critical educational opportunities for your company.


Subscribe to ACA Daily NEWSROOM

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