AB-665
Consumer Protection

Commissioner of Financial Protection and Innovation: report: Office of the Ombuds.

Introduced
CA
2025-2026 Regular Session
0
0
Track

Key Takeaways

  • Expands annual financial protection reporting to include activities of the Office of the Ombuds.
  • Requires the Commissioner to publish detailed financial oversight actions on the department's website.
  • Allows recommendations for improving financial product oversight and transparency in the marketplace.
10% progression
Bill has been formally introduced and read for the first time in its house of origin (2/14/2025)
Probability of Passing
We're working on it! Check back later.

Summary

Assembly Member Chen's proposal to expand California's financial oversight reporting requirements would add the Office of the Ombuds to the annual public disclosure mandated for the Commissioner of Financial Protection and Innovation. The Commissioner's yearly report, which currently details actions taken under the California Consumer Financial Protection Law, includes information about rulemaking, enforcement, oversight, consumer complaints, education initiatives, and Financial Technology Innovation Office activities.

Under the proposed change, the Commissioner would incorporate data and information about the Office of the Ombuds' activities alongside existing reporting elements. The annual report, published on the Department of Financial Protection and Innovation's website, may contain recommendations related to oversight, transparency, or financial product availability in California's marketplace.

The measure maintains the current reporting framework and timeline while adding this new disclosure requirement. No additional funding is allocated for implementation, as the expanded reporting duties would be carried out using existing departmental resources.

Get Involved

Act Now!

This bill was recently introduced. Email the authors to let them know what you think about it.

Introduced By

Phillip Chen
Phillip ChenR
California State Assembly Member

Community Outlook

No votes yet
Positive
0%
Negative
0%

Key Dates

Next Step
Referred to the Assembly Standing Committee on Banking and Finance
Next Step
Assembly Committee
Referred to the Assembly Standing Committee on Banking and Finance
Hearing has not been scheduled yet
Read first time. To print.
Assembly Floor
Read first time. To print.
Read first time. To print.

Relevant Contacts

Profile
Phillip ChenR
Assembly Member
Bill Author
Not Contacted
Not Contacted
Profile
Blanca RubioD
Assembly Member
Committee Member
Not Contacted
Not Contacted
Profile
Mike FongD
Assembly Member
Committee Member
Not Contacted
Not Contacted
Profile
Diane DixonR
Assembly Member
Committee Member
Not Contacted
Not Contacted
Profile
Pilar SchiavoD
Assembly Member
Committee Member
Not Contacted
Not Contacted
0 of 9 row(s) selected.
Page 1 of 2
Select All Legislators
Profile
Phillip ChenR
Assembly Member
Bill Author
Profile
Blanca RubioD
Assembly Member
Committee Member
Profile
Mike FongD
Assembly Member
Committee Member
Profile
Diane DixonR
Assembly Member
Committee Member
Profile
Pilar SchiavoD
Assembly Member
Committee Member
Profile
Esmeralda SoriaD
Assembly Member
Committee Member
Profile
Avelino ValenciaD
Assembly Member
Committee Member
Profile
Maggy KrellD
Assembly Member
Committee Member
Profile
Michelle RodriguezD
Assembly Member
Committee Member

Key Takeaways

  • Expands annual financial protection reporting to include activities of the Office of the Ombuds.
  • Requires the Commissioner to publish detailed financial oversight actions on the department's website.
  • Allows recommendations for improving financial product oversight and transparency in the marketplace.

Get Involved

Act Now!

This bill was recently introduced. Email the authors to let them know what you think about it.

Introduced By

Phillip Chen
Phillip ChenR
California State Assembly Member

Summary

Assembly Member Chen's proposal to expand California's financial oversight reporting requirements would add the Office of the Ombuds to the annual public disclosure mandated for the Commissioner of Financial Protection and Innovation. The Commissioner's yearly report, which currently details actions taken under the California Consumer Financial Protection Law, includes information about rulemaking, enforcement, oversight, consumer complaints, education initiatives, and Financial Technology Innovation Office activities.

Under the proposed change, the Commissioner would incorporate data and information about the Office of the Ombuds' activities alongside existing reporting elements. The annual report, published on the Department of Financial Protection and Innovation's website, may contain recommendations related to oversight, transparency, or financial product availability in California's marketplace.

The measure maintains the current reporting framework and timeline while adding this new disclosure requirement. No additional funding is allocated for implementation, as the expanded reporting duties would be carried out using existing departmental resources.

10% progression
Bill has been formally introduced and read for the first time in its house of origin (2/14/2025)
Probability of Passing
We're working on it! Check back later.

Key Dates

Next Step
Referred to the Assembly Standing Committee on Banking and Finance
Next Step
Assembly Committee
Referred to the Assembly Standing Committee on Banking and Finance
Hearing has not been scheduled yet
Read first time. To print.
Assembly Floor
Read first time. To print.
Read first time. To print.

Community Outlook

No votes yet
Positive
0%
Negative
0%

Relevant Contacts

Profile
Phillip ChenR
Assembly Member
Bill Author
Not Contacted
Not Contacted
Profile
Blanca RubioD
Assembly Member
Committee Member
Not Contacted
Not Contacted
Profile
Mike FongD
Assembly Member
Committee Member
Not Contacted
Not Contacted
Profile
Diane DixonR
Assembly Member
Committee Member
Not Contacted
Not Contacted
Profile
Pilar SchiavoD
Assembly Member
Committee Member
Not Contacted
Not Contacted
0 of 9 row(s) selected.
Page 1 of 2
Select All Legislators
Profile
Phillip ChenR
Assembly Member
Bill Author
Profile
Blanca RubioD
Assembly Member
Committee Member
Profile
Mike FongD
Assembly Member
Committee Member
Profile
Diane DixonR
Assembly Member
Committee Member
Profile
Pilar SchiavoD
Assembly Member
Committee Member
Profile
Esmeralda SoriaD
Assembly Member
Committee Member
Profile
Avelino ValenciaD
Assembly Member
Committee Member
Profile
Maggy KrellD
Assembly Member
Committee Member
Profile
Michelle RodriguezD
Assembly Member
Committee Member