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Get Ready for the New California Consumer Financial Protection Bureau

Walter Mix and David Abshier

March 19, 2020

The state’s answer to the CFPB will have sweeping jurisdiction and power—but also could help spark fintech innovation. 

More than 2,300 miles from Washington, DC, lawmakers are preparing perhaps the most significant changes in the regulation of financial services since passage of the Dodd-Frank Act a decade ago. In the coming months, the California State Legislature is likely to approve the creation of a new state agency, loosely modeled after the US Consumer Financial Protection Bureau (CFPB), with sweeping regulatory authority and enforcement powers that will reach far beyond California state lines. 

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David Abshier

Managing Director

Los Angeles, Downtown

Walter J. Mix III

Managing Director

Los Angeles, Downtown, New York