Existing law, establishes the Department of Financial Protection and Innovation in the Business, Consumer Services, and Housing Agency, headed by the Commissioner of Financial Protection and Innovation. Under existing law, the department has charge of the execution of specified laws relating to various financial institutions and financial services, including banks, trust companies, credit unions, finance lenders, and residential mortgage lenders.

Existing law requires the department to regulate the offering and provision of consumer financial products or services, and to exercise oversight and enforcement authority, pursuant to these provisions, as specified. Existing law requires the commissioner to prepare and publish on the department’s internet website an annual report detailing actions taken during the prior year pursuant to the California Consumer Financial Protection Law. Existing law states that its purpose, among other things, is to protect consumers from discrimination and unfair, deceptive, and abusive acts and practices in connection with financial practices and services.

This bill would require the department, commencing on or before January 1, 2027, to make available to financial institutions and the general public online resources related to financial abuse of victims of domestic violence for the purpose of protecting the survivors’ assets and resources, as specified. The bill would authorize the department to utilize existing internet websites, links, and other online resources and materials from state government departments, nonprofit organizations, and community groups, as appropriate, in order the meet the requirement to make the online resources available.