This embattled consumer agency went 2 years without a director. Newsom finally appointed one

Governor Newsom has appointed Nicole Dragoo to lead California's Professional Fiduciaries Bureau, ending a two-year vacancy at the agency. A CalMatters investigation found the bureau has largely failed to stop conflicts of interest and misconduct by fiduciaries managing money for vulnerable people. The agency was created two decades ago specifically to prevent this kind of abuse, yet it operates on an honor system where fiduciaries essentially police themselves. In one case documented by CalMatters, a fiduciary directed two point seven million dollars of a client's money to her husband's companies for years without the bureau intervening despite receiving complaints. The appointment requires Senate confirmation.

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