California Governor Gavin Newsom announced former CFPB Director Rohit Chopra as his pick to head the state’s newly reorganized Business and Consumer Services Agency, a cabinet-level umbrella effective July 1. BCSA will house the state’s Department of Financial Protection and Innovation (California’s own consumer financial protection agency), as well as departments overseeing banking, fintech, occupational licensing, real estate, and cannabis — more than 5,000 employees and over $1.3 billion in combined budget.
Chopra’s appointment is widely interpreted as California’s most concrete step yet to position itself as a counterweight to federal consumer protection rollbacks under the Trump administration.
Chopra’s appointment must be confirmed by the California Senate. California’s Democratic supermajority makes confirmation likely, though his tenure could be short given a gubernatorial election in six months. Regardless, the appointment signals that California intends to fill the federal regulatory gap aggressively.
Governor press release: https://www.gov.ca.gov/2026/05/12/governor-newsom-appoints-former-federal-regulator-rohit-chopra-to-head-new-business-and-consumer-services-agency-amid-trump-era-rollbacks/