Gavin Newsom

Banks, consumer groups both got what they wanted in ‘mini-CFPB’ bill

08/31/20

The California plan to create a new, tougher state regulatory agency is at the finish line after lawmakers agreed to key exemptions for banks while maintaining strong enforcement measures for payday lenders and other firms.

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California’s ‘mini-CFPB’ plan is back in play. Banks aren’t happy.

08/14/20

A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the measure conflicts with federal law and are working behind the scenes to stop it.

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California tables ‘mini-CFPB’ idea — for now

06/11/20

A budget item establishing a new agency to protect consumers from predatory lenders has been put on hold as state officials deal with the coronavirus response and other priorities. But it could be revived in legislative talks later this summer.

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Big banks offer relief to California homeowners affected by COVID-19

03/25/20

JPMorgan Chase, Wells Fargo, Citigroup and U.S. Bancorp, along with 200 state-chartered banks and credit unions, have agreed to let borrowers skip payments for 90 days if their finances have been upended by the pandemic. Bank of America said it would waive payments for 30 days.

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N.Y., California want more regulation; bank stocks hammered again

03/17/20

The governors want more regulatory power as federal oversight slips; U.S. and European banks dropped sharply Monday as coronavirus-related problems multiply.

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In rebuke of CFPB, states look to get tough on debt collectors

01/15/20

In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.

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High-cost lenders already seeking ways around crackdown in California

10/15/19

A law signed last week by Democratic Gov. Gavin Newsom caps interest rates on installment loans. But three large lenders are looking to avoid its restrictions by partnering with banks.

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Public banking gets green light in California

10/03/19

A new law authorizes municipalities in the nation’s largest state to charter their own financial institutions to reinvest public funds into the community.

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Calif. Senate approves interest rate cap for installment loans

09/13/19

The vote Friday was a victory for consumer advocacy groups that have been pushing for years to rein in lenders that charge triple-digit rates.

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