Commissioner of Financial Protection and Innovation: report: Office of the Ombuds.

Assembly Member Chen's proposal to expand California's financial oversight reporting requirements would add the Office of the Ombuds to the annual public disclosure mandated for the Commissioner of Financial Protection and Innovation. The Commissioner's yearly report, which currently details actions taken under the California Consumer Financial Protection Law, includes information about rulemaking, enforcement, oversight, consumer complaints, education initiatives, and Financial Technology Innovation Office activities.

Under the proposed change, the Commissioner would incorporate data and information about the Office of the Ombuds' activities alongside existing reporting elements. The annual report, published on the Department of Financial Protection and Innovation's website, may contain recommendations related to oversight, transparency, or financial product availability in California's marketplace.

The measure maintains the current reporting framework and timeline while adding this new disclosure requirement. No additional funding is allocated for implementation, as the expanded reporting duties would be carried out using existing departmental resources.