California to Create its own “Mini-CFPB”

Richard Cordray and California Governor Gavin Newsom Team Up to Create Yet Another Layer of Bureaucratic Oversight

27 January 2020 – As if doing business in the land of high taxes, exorbitant rents and swelling homeless populations wasn’t hard enough. California Governor Gavin Newsom, in his ongoing war against the Trump administration, is working with former CFPB Director, Richard Cordray on the creation of it’s own “Mini-CFPB”. This proposal, already included in the 2020 state budget is intended to fill the gap left by the less punitive CFPB under the Trump administration.

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