Earlier this month, the California legislature passed three bills that will significantly impact consumer financial service providers in the state. AB-1864 creates the Department of Financial Protection and Innovation (DFPI), widely named a “mini-CFPB” because of its broad jurisdiction and sweeping new authorities that closely resemble those of the CFPB. The two other major bills are SB-908, which will require debt collectors to be licensed in California, and AB-376, which establishes a Student Loan Borrower Bill of Rights. California Governor Gavin Newsom is expected to sign the three bills by the end of this month.
In the webinar, we will provide a comprehensive overview of the three bills, with a special focus on the scope of the DFPI’s jurisdiction, its new authorities, consider how the three bills will impact industry, and whether other states are likely to create their own “mini-CFPBs.” We are delighted to be joined by Richard Cordray, former CFPB Director, author of “Watchdog: How Protecting Consumers Can Save Our Families, Our Economy, and Our Democracy,” and who worked closely with California lawmakers in drafting AB-1864, and Bret Ladine, General Counsel of the California Department of Business Oversight.
The webinar will be held on Tuesday, September 29, 2020 from 3:00 p.m. to 4:30 p.m. ET. Click here to register.