CALIFORNIA LEGISLATURE 20252026 REGULAR SESSION Assembly Bill No. 665Introduced by Assembly Member ChenFebruary 14, 2025 An act to amend Section 90018 of the Financial Code, relating to financial institutions.LEGISLATIVE COUNSEL'S DIGESTAB 665, as introduced, Chen. Commissioner of Financial Protection and Innovation: report: Office of the Ombuds.The California Consumer Financial Protection Law requires the Commissioner of Financial Protection and Innovation to prepare and publish on the Department of Financial Protection and Innovations internet website an annual report detailing actions taken during the prior year under the law and requires the report to include information on actions taken with respect to, among other things, the activities of the Financial Technology Innovation Office.This bill would additionally require the report to include information on actions taken with respect to the Office of the Ombuds.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO Bill TextThe 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 departments 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 activities of the Office of the Ombuds.(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.
CALIFORNIA LEGISLATURE 20252026 REGULAR SESSION Assembly Bill No. 665Introduced by Assembly Member ChenFebruary 14, 2025 An act to amend Section 90018 of the Financial Code, relating to financial institutions.LEGISLATIVE COUNSEL'S DIGESTAB 665, as introduced, Chen. Commissioner of Financial Protection and Innovation: report: Office of the Ombuds.The California Consumer Financial Protection Law requires the Commissioner of Financial Protection and Innovation to prepare and publish on the Department of Financial Protection and Innovations internet website an annual report detailing actions taken during the prior year under the law and requires the report to include information on actions taken with respect to, among other things, the activities of the Financial Technology Innovation Office.This bill would additionally require the report to include information on actions taken with respect to the Office of the Ombuds.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO
CALIFORNIA LEGISLATURE 20252026 REGULAR SESSION
Assembly Bill
No. 665
Introduced by Assembly Member ChenFebruary 14, 2025
Introduced by Assembly Member Chen
February 14, 2025
An act to amend Section 90018 of the Financial Code, relating to financial institutions.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 665, as introduced, Chen. Commissioner of Financial Protection and Innovation: report: Office of the Ombuds.
The California Consumer Financial Protection Law requires the Commissioner of Financial Protection and Innovation to prepare and publish on the Department of Financial Protection and Innovations internet website an annual report detailing actions taken during the prior year under the law and requires the report to include information on actions taken with respect to, among other things, the activities of the Financial Technology Innovation Office.This bill would additionally require the report to include information on actions taken with respect to the Office of the Ombuds.
The California Consumer Financial Protection Law requires the Commissioner of Financial Protection and Innovation to prepare and publish on the Department of Financial Protection and Innovations internet website an annual report detailing actions taken during the prior year under the law and requires the report to include information on actions taken with respect to, among other things, the activities of the Financial Technology Innovation Office.
This bill would additionally require the report to include information on actions taken with respect to the Office of the Ombuds.
## Digest Key
## Bill Text
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 departments 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 activities of the Office of the Ombuds.(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.
The people of the State of California do enact as follows:
## 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 departments 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 activities of the Office of the Ombuds.(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.
SECTION 1. Section 90018 of the Financial Code is amended to read:
### SECTION 1.
90018. (a) The commissioner shall prepare and publish on the departments 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 activities of the Office of the Ombuds.(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.
90018. (a) The commissioner shall prepare and publish on the departments 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 activities of the Office of the Ombuds.(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.
90018. (a) The commissioner shall prepare and publish on the departments 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 activities of the Office of the Ombuds.(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.
90018. (a) The commissioner shall prepare and publish on the departments 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 activities of the Office of the Ombuds.
(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.