Beneficial State Bank CEO Kat Taylor Joins Former CFPB Director Richard Cordray at Capitol Hearing to Discuss Trump Administration Rollback of Consumer Protections
The California State Assembly Committee on Banking and Finance, chaired by Assemblymember Monique Limón (D-Santa Barbara), will hold an informational hearing at the State Capitol regarding the current state of the federal Consumer Financial Protection Bureau (CFPB) and the actions that California can take to better protect its consumers. Alongside Mr. Cordray, the Assembly will hear testimony from Beneficial State Bank Co-founder and CEO, Kat Taylor, as well as from consumer advocates Seth Frotman, Executive Director of the Student Borrower Protection Center, Chris Peterson of the Consumer Federation of America, and Suzanne Martindale, Senior Policy Counsel for Consumer Reports.
SACRAMENTO, Calif., March 28, 2019 /PRNewswire-PRWeb/ -- On Wednesday, March 27th, the California State Assembly Committee on Banking and Finance, chaired by Assemblymember Monique Limón (D-Santa Barbara), will hold an informational hearing at the State Capitol regarding the current state of the federal Consumer Financial Protection Bureau (CFPB) and the actions that California can take to better protect its consumers.
The committee hearing will feature thought leaders and advocates providing input about the state of federal consumer protections and the regulatory options available to provide oversight and enforcement to strengthen these protections. California lawmakers have introduced legislation to fill the gaps left by the federal rollback of protections by Trump Administration appointees. Among the experts providing guidance to the State's efforts is the CFPB's first Director under the Obama Administration, Richard Cordray. Mr. Cordray's tenure with the CFPB embodied the principle that "Consumers - all of us - deserve to be treated fairly. As the federal government is pulling back in this area, the State of California has the opportunity to lead the way for the rest of the country."
Alongside Mr. Cordray, the Assembly will hear testimony from Beneficial State Bank Co-founder and CEO, Kat Taylor, as well as from consumer advocates Seth Frotman, Executive Director of the Student Borrower Protection Center, Chris Peterson of the Consumer Federation of America, and Suzanne Martindale, Senior Policy Counsel for Consumer Reports. "Banks cannot continue to harm the people who they are supposed to serve fairly and transparently. 'Do no harm' must be their highest priority," said Kat Taylor. "As the world's fifth largest economy, California has an obligation to ensure that consumers are treated fairly in the face of an increasingly complex financial marketplace."
WHAT: Assembly Committee on Banking and Finance Hearing, titled: The Consumer Financial Protection Bureau: An Examination of the CFPB under the current Administration and Options for California to Better Protect Consumers
WHEN: Wednesday, March 27, 2019, 1pm-3pm
WHERE: California State Capitol, Room 437; CalChannel:
http://www.calchannel.com/live-webcast/
WHO: Richard Cordray, first Director of the CFPB
Kat Taylor, Co-founder & CEO of Beneficial State Bank
Seth Frotman, Executive Director of the Student Borrower Protection Center
Chris Peterson, Director of Financial Services at the Consumer Federation of America
Suzanne Martindale, Senior Policy Counsel for Consumer Reports
THAT SAME AFTERNOON AT 5:30PM
Taylor, Cordray, and Frotman Will Speak On Panel At Sacramento State University As Part of the
Envisioning California Conference & Speaker Series
Sacramento, Calif. -- On Wednesday, March 27th, Cordray, Taylor, and Frotman will take part in a panel discussion, hosted by the California State University's Center for California Studies. This panel will cover how a state-level Consumer Financial Protection Bureau could address payday loans and student loan debt at a time when the average college graduate in California has over $20,000 in debt.
WHAT: Center for California Studies' Envisioning California Conference & Speaker Series
WHEN: Wednesday, March 27, 2019, 5:30 - 7:00 p.m.
WHERE: Sacramento State Downtown Campus (304 S Street)
WHO: Richard Cordray, former Director of the CFPB
Kat Taylor, Co-founder & CEO of Beneficial State Bank
Seth Frotman, Executive Director of the Student Borrower Protection Center
SOURCE California State Assembly Committee on Banking and Finance
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