Press Coverage August 28, 2026

California Moves Into Federal Consumer Protection Void Under Chopra

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Stefanie H. Jackman Chris Willis Michael Yaghi Zoe Schloss

Troutman Pepper Locke’s Stefanie H. Jackman, Chris Willis, Michael Yaghi, and Zoe Schloss‘s article, “California’s New Consumer Protection Secretary: What Chopra’s Appointment Signals for the Financial Services Industry,” was quoted in the August 28, 2026, PYMNTS article, “California Moves Into Federal Consumer Protection Void Under Chopra.”

  • A Thursday (Aug. 27) analysis by Troutman Pepper Locke described an emerging approach centered on challenging fee structures, scrutinizing algorithmic decisions, protecting financial data and imposing consequences that companies cannot simply absorb as business expenses.
  • …
  • The greatest exposure could fall on repeat offenders, per the Troutman Pepper analysis. Chopra has favored product restrictions, business model changes and individual accountability over penalties alone. The agency has warned that serious violations can jeopardize California operating licenses.

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