Chapter 9Annual Report

Section § 90018

Explanation

This California law section requires the commissioner to publish an annual report on the department's website. The report should detail actions taken in the previous year regarding rulemaking, enforcement, consumer issues, and other activities related to financial oversight.

It also covers the actions of the Financial Technology Innovation Office and can include recommendations for better oversight and transparency. The aim is to ensure the public gets information on how beneficial financial products and services can become more available.

(a)CA Financial Code § 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)CA Financial Code § 90018(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)CA Financial Code § 90018(b)(1) Rulemaking, enforcement, oversight, consumer complaints and resolutions, education, and research.
(2)CA Financial Code § 90018(b)(2) The activities of the Financial Technology Innovation Office.
(c)CA Financial Code § 90018(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.
annual report commissioner financial oversight rulemaking enforcement actions consumer complaints Financial Technology Innovation Office transparency recommendations financial products marketplace availability education and research oversight improvements public information consumer resolutions
(Added by Stats. 2020, Ch. 157, Sec. 7. (AB 1864) Effective January 1, 2021.)