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California Regulatory Developments: What Fintechs and Banks Need to Know As fintechs and banks navigate an increasingly fragmented regulatory landscape, California continues to be a critical state to monitor. Below is a summary of recent legislative and regulatory developments that could impact your operations or compliance posture. SB 784 – Home Improvement Loan Restrictions Advance SB 784 has emerged as a significant concern for some fintechs and banks. The bill would impose new restrictions on home improvement loans, requiring lenders to meet several procedural hurdles before a contract can be executed. The American Fintech Council released statements flagging their concerns with the bill. Use of AI in Legislative Review California is piloting the use of generative AI to accelerate legislative bill analysis. This could change the pace and depth of how fintech-related bills are assessed—potentially compressing timeframes for response or amendment. Broader Consumer Finance Framework Bills New bills propose regulatory frameworks to fill perceived gaps in federal oversight. These efforts include: Key Takeaways Call to Action: Stay Ahead—Set Up a California Regulatory Agent Don’t wait to play defense. Set up your own regulatory agent now to track, monitor, and alert you to California legislative and regulatory developments that could impact your business. Need help? You can also engage CompliSun as your dedicated compliance partner—think of us as your embedded compliance team, helping you stay ahead of change while keeping your internal resources focused on growth.