Administrative/Regulatory
Feb. 10, 2020
California to create its own Consumer Financial Protection Bureau
With Gov. Gavin Newsom’s view that “California’s economy and its people thrive when predatory business practices are policed,” California now joins the growing list of states opting to create what have recently been dubbed, “mini-CFPBs.”
Stella Padilla
Senior Counsel
Hanson Bridgett LLP
Email: spadilla@hansonbridgett.com
Stella Padilla, senior counsel at Hanson Bridgett LLP, is a commercial litigator whose practice includes representing leading companies and financial institutions in complex matters including class actions, enforcement actions, and business disputes.
It comes as no surprise that as the idea has taken hold that (under the Trump administration) the Consumer Financial Protection Bureau has rolled back its regulation of consumer financial services, a growing number of states have opted to expand their own regulatory reach within state lines. These states have been motivated by a particular emphasis on consumer financial services providers that have, until recently, gone unregulated or have been viewed as being unde...
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