State Lawmakers Seek to Pass California Consumer Financial Protection Law


The proposal to create a consumer protection bureau in California needs approval by the state’s Aug. 31 budget deadline.

8/18/2020 11:00

California Assembly member Monique Limón is backing a proposal, one that has been on the books for the last year, from Gov. Gavin Newsom to create a state consumer protection agency in California.

NPR reports Limón brought the proposal for the Department of Financial Protection and Innovation forward again this week with the state’s budget and legislative deadline of Aug. 31 fast approaching.

The 2020/21 budget proposal for a consumer protection bureau that would reportedly include state oversight of debt collectors was on hold in June due to the need for coronavirus relief funding and other more pressing matters, ACA International previously reported.

The governor’s budget summary states the California consumer protection bureau, titled the Department of Financial Protection and Innovation, is designed to “provide consumers greater protection from predatory practices while facilitating innovation and ensuring a level playing field for all companies operating responsibly in California.”

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