Consumers Legal Remedies Act: covered person.

Existing law, the California Consumer Financial Protection Law, requires the Department of Financial Protection and Innovation to regulate the offering and provision of consumer financial products or services, as defined, under California consumer financial laws, as defined, and to exercise nonexclusive oversight and enforcement authority under California consumer financial laws. The law, among other things, prohibits a covered person, as defined, or a service provider, as defined, from engaging in, or proposing to engage in, an unlawful, unfair, deceptive, or abusive act or practice with respect to consumer financial products or services. The law authorizes the department to bring a civil action for a violation of the law, as prescribed. Existing law, the Consumers Legal Remedies Act, makes unlawful certain unfair methods of competition and certain unfair or deceptive acts or practices undertaken by a person in a transaction intended to result or that results in the sale or lease of goods or services to a consumer, including misrepresenting the source, sponsorship, approval, or certification of goods or services. Existing law authorizes a consumer who suffers damage as a result of the use or employment by a person of a method, act, or practice declared to be unlawful by that provision to bring an action against that person to recover or obtain certain relief, including actual damages of at least $1,000. This bill would additionally make unlawful failing to include certain information, including a prescribed disclosure, in a solicitation by a covered person, as defined, or an entity acting on behalf of a covered person, to a consumer for a consumer financial product or service.