California’s new Business and Consumer Services Agency, led by former CFPB Director Rohit Chopra, will crack down on corrupt practices, lift small businesses and assist with state enforcement efforts.

Chris Willis, a partner at the law firm of Troutman Pepper Locke, said any credit risk identified in the new guidance from federal regulators is likely to have already been considered by lenders.

The bureau called discussions with Bilt Technologies a “collaborative process” that has secured redress for consumers harmed by the fintech’s transition to a new bank partnership.