Government,
Banking,
Administrative/Regulatory
Sep. 15, 2020
CFPB, California style
California is the latest state to adopt its own mini-Consumer Financial Protection Bureau. Under the new regime, we will get an expanded and reorganized banking regulator: the Department of Financial Protection and Innovation.
Nancy R. Thomas
Partner
Davis, Wright & Tremaine LLP
Phone: (213) 633-6800
Email: nancythomas@dwt.com
Univ of Chicago Law School; Chicago IL
Nancy is a consumer class action and regulatory enforcement lawyer who represents her clients in high-stakes litigation in state and federal courts, as well as in arbitration and administrative proceedings.
California has become the latest state to create its own mini-Consumer Financial Protection Bureau. In a one-two punch, we will see an expanded and reorganized banking regulator and a new law giving the agency new unfair, deceptive and abusive, referred to as UDAAP, and other authority mirroring the CFPB’s authority under the Dodd-Frank Act Title X.
This reorganization and expansion of the state banking agency is the latest in Calif...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In