Bill Text: CA AB2191 | 2021-2022 | Regular Session | Amended

California Assembly Bill 2191 (Prior Session Legislation)

Bill Title: California Consumer Financial Protection Law: annual report.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-04-18 - In committee: Set, second hearing. Hearing canceled at the request of author. [AB2191 Detail]

Download: California-2021-AB2191-Amended.html

Amended IN Assembly March 08, 2022

CALIFORNIA LEGISLATURE— 2021–2022 REGULAR SESSION

Assembly Bill

No. 2191

Introduced by Assembly Member Mathis

February 15, 2022

An act to amend Section 90018 of the Financial Code, relating to financial institutions.

LEGISLATIVE COUNSEL'S DIGEST

AB 2191, as amended, Mathis. California Consumer Financial Protection Law: annual report.

The California Consumer Financial Protection Law requires the Department of Financial Protection and Innovation, headed by the Commissioner of Financial Protection and Innovation, to regulate the provision of various consumer financial products and services. Existing law requires the commissioner to publish on the department’s internet website an annual report detailing actions taken during the prior year under the law, as specified.

This bill would require the commissioner to also include in the annual report the total number of elder financial abuse reports filed with ~~local law enforcement agencies and county adult protective services agencies.~~ broker-dealers and investment advisers.

Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO

The people of the State of California do enact as follows:

SECTION 1.

Section 90018 of the Financial Code is amended to read:

90018.

(a) The commissioner shall prepare and publish on the department’s internet website an annual report detailing actions taken during the prior year under this law.

(b) The report described in subdivision (a) shall include, but not be limited to, information on actions taken with respect to all of the following:

(1) Rulemaking, enforcement, oversight, consumer complaints and resolutions, education, and research.

(2) The activities of the Financial Technology Innovation Office.

(3) The total number of elder financial abuse reports filed with ~~local law enforcement agencies and county adult protective services agencies.~~ broker-dealers and investment advisers.

(c) The report may include recommendations, including those intended to result in improved oversight, greater transparency, or increased availability of beneficial financial products and services in the marketplace.