newsom

Update on California bill to revamp Department of Business Oversight

By Ballard CFS Group on June 1, 2020

Posted in Regulatory and Enforcement, State Enforcement

California Governor Newsom submitted his updated 2020-2021 budget proposal to the state legislature on May 14, 2020. The proposed budget amendments include substantial cuts to compensate for the anticipated impact to state revenue due to job losses and business closures caused by the COVID-19 pandemic. The funding allocated to the revamping of the Department of Business Oversight (DBO) was not impacted, however. … Continue Reading

CA and NY governors propose expansion of state consumer financial protection regimes

By Alan S. Kaplinsky on January 13, 2020

Posted in CADBO, NYDFS, Regulatory and Enforcement

The governors of California and New York have both proposed to expand the authority of their respective state’s consumer financial services regulator. Both governors have framed their proposals as a response to what they describe as the CFPB’s “rollback” of its efforts to protect consumers.

California. Governor Newsom’s proposals are part of his 2020-2021 proposed budget. … Continue Reading