Owen Discusses California’s Proposed State Consumer Protection Bureau

Manatt Financial Services senior advisor Jan Owen spoke with American Banker and Bloomberg Law about California Governor Newsom’s proposal to create a state consumer protection bureau. The governor’s proposal would remake the California Department of Business Oversight into an entity similar to the CFPB, which would directly regulate fintech companies, debt collectors and a variety of other financial services industries. In the articles, Owen noted that the development of this agency would be a good opportunity for the state, saying, “for California to be one place to go and work with the regulator to develop a consumer financial product is nothing but a good thing.”

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