Credit agencies & finance companies

TopicBill numbersort iconAuthorInterest positionBecame law
An Act to Add Division 12.5 (Commencing with Section 28100) to the Financial Code, Relating to Student Loan Servicers. AB 2251 (2015-2016) StoneOpposeYes
(1)Existing law establishes the Department of Business Oversight as headed by the Commissioner of Business Oversight, who, among other things, generally provides for the licensure and regulation of… More
(1)Existing law establishes the Department of Business Oversight as headed by the Commissioner of Business Oversight, who, among other things, generally provides for the licensure and regulation of persons who are engaged in various consumer financial businesses, including, but not limited to, the business of making consumer or commercial loans. This bill would enact the Student Loan Servicing Act providing for the licensure, regulation, and oversight of student loan servicers by the commissioner and would define terms for its purposes. The bill would prohibit a person from engaging in the business of servicing a student loan in this state, directly or indirectly, without a license, unless exempt from the licensing requirement, and would require a licensee to provide specific services to a student loan borrower and comply with reporting, auditing, and other oversight by the commissioner. The bill would require a person applying for a license to, among other things, pay an application fee, sign the application under penalty of perjury, and submit to a criminal background check by the Department of Justice. By expanding the scope of the crime of perjury and increasing who is authorized to receive criminal record information, this bill would impose a state-mandated local program. The bill would require each licensee to, among other things, file reports with the commissioner under oath, pay to the commissioner its pro rata share of all costs and expenses reasonably incurred in the administration of these provisions, as estimated by the commissioner, and would authorize the commissioner to enforce these provisions by, among other things, promulgating regulations, performing investigations, suspending a license, and enforcing the provisions in an administrative hearing or in court, as specified. The bill would prohibit the public disclosure of specific information provided by a licensee to the commissioner. The bill would make the act operative on July 1, 2018, except for specific authorizations to the commissioner which may be exercised on and after January 1, 2017. The bill would make legislative findings in support of its provisions. (2)The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. (3)Existing constitutional provisions require that a statute that limits the right of access to the meetings of public bodies or the writings of public officials and agencies be adopted with findings demonstrating the interest protected by the limitation and the need for protecting that interest. This bill would make legislative findings to that effect. Hide
An Act to Amend Section 53328.1 of the Government Code, and to Amend Section 5898.15 Of, to Amend, Renumber, and Add Section 5898.16 Of, and to Add Section 5898.17 To, the Streets and Highways Code, Relating to Property Improvements. AB 2693 (2015-2016) DababnehSupportYes
(1)Existing law authorizes the legislative body of a public agency, as defined, to determine that it would be convenient, advantageous, and in the public interest to designate an area within which… More
(1)Existing law authorizes the legislative body of a public agency, as defined, to determine that it would be convenient, advantageous, and in the public interest to designate an area within which authorized public agency officials and property owners may enter into voluntary contractual assessments to finance certain improvements, including the installation of distributed generation renewable sources, energy or water efficiency improvements, seismic strengthening improvements, or electric vehicle charging infrastructure that are permanently fixed to real property, as specified. Existing law prohibits a public agency from permitting a property owner to participate in any program established pursuant to these provisions if the owner’s participation would result in the total amount of any annual property taxes and assessments exceeding 5% of the property’s market value, as determined at the time of approval of the owner’s contractual assessment. This bill would also prohibit a public agency from permitting a property owner to participate in a program pursuant to these provisions unless the property owner satisfies certain conditions and the property owner is given the right to cancel the contractual assessment at any time prior to midnight on the 3rd business day after certain events occur without penalty or obligation, consistent with certain requirements. The bill would require a financing estimate document or a substantially equivalent document to be completed and delivered to a property owner before the property owner consummates a voluntary contractual assessment pursuant to one of these programs. The bill would prohibit a public agency or other party to a voluntary contractual assessment pursuant to one of these programs to make any monetary or percentage representations of increased value to a property owner regarding the effect the financed improvements will have on the market value of the property unless the public agency or other party derives its estimates of market value using specified methods. This bill would limit these provisions to a property owner who seeks to participate in a program established to finance the installation of distributed generation renewable energy sources, energy or water efficiency improvements, seismic strengthening improvements, or electric vehicle charging infrastructure that are permanently fixed to real property pursuant to these provisions for a residential property with 4 or fewer units. (2)The Mello-Roos Community Facilities Act of 1982 specifies the requirements for the establishment of a community facilities district, including, among other things, a petition, a hearing, the establishment of the boundaries of the community facilities district, and an election on the question. Existing law authorizes a community facilities district formed pursuant to an alternative procedure under which the district initially consists solely of territory proposed for annexation to the community facilities district in the future and territory is annexed and subjected to special taxes only upon unanimous approval of the owners, to finance and refinance the acquisition, installation, and improvement of energy efficiency, water conservation, and renewable energy improvements. This bill would require a legislative body to comply with the requirements described above prior to the annexation of a parcel or parcels to a community facilities district formed pursuant to the alternative procedure. The bill would prohibit a parcel or parcels from being annexed to a community facilities district formed pursuant to the alternative procedure if the parcel owner is seeking financing for improvement on a residential property with 4 or fewer units, unless the parcel satisfies specified conditions. This bill would incorporate additional changes to Section 53328.1 of the Government Code proposed by AB 2618 to be operative only if AB 2618 and this bill are chaptered and become effective on or before January 1, 2017, and this bill is chaptered last. Hide
An Act to Amend Sections 703.140, 704.010, 704.113, 704.115, 704.720, 704.730, and 704.960 Of, and to Add Sections 704.085, 704.111, and 704.165 To, the Code of Civil Procedure, Relating to Bankruptcy. SB 308 (2015-2016) WieckowskiOpposeNo
Existing law prohibits the seller or holder of a conditional sale contract for a motor vehicle from accelerating the maturity of any part or all of the amount due under the contract or repossessing… More
Existing law prohibits the seller or holder of a conditional sale contract for a motor vehicle from accelerating the maturity of any part or all of the amount due under the contract or repossessing the vehicle in the absence of default in the performance of any of the buyer’s obligations under the contract. This bill would provide that neither the act of filing a bankruptcy petition by the buyer or other person liable on the contract nor the status of either of those persons as a debtor in bankruptcy constitutes a default in the performance of any of the buyer’s obligations under the contract and neither may be used as a basis for accelerating the maturity of any part or all of the amount due under the contract or for repossessing the motor vehicle. Existing law identifies various types of property of a judgment debtor that are exempt from the enforcement of a money judgment. Existing law provides that property described in statute as exempt may be claimed within the time and in the manner prescribed in the applicable enforcement procedure, and property described in statute as exempt without making a claim is not subject to any procedure for enforcement of a money judgment. These general exemptions are available to a debtor in a federal bankruptcy case, whether a money judgment is being enforced by execution sale or other procedure, unless the debtor elects certain alternative exemptions. Existing law requires the Judicial Council to, every 3 years, adjust the amount of the exemptions applicable to exempt property based on the change in the annual California Consumer Price Index for All Urban Consumers, and to prepare conforming forms for those adjustments. This bill would increase the statutory amounts of various exemptions to reflect the amounts of the exemptions as adjusted by the Judicial Council effective April 1, 2013. Existing law authorizes a husband and wife who jointly file a bankruptcy petition to jointly elect to utilize the general exemptions or the alternative exemptions, but not both. The general exemptions are applicable if a bankruptcy petition is filed individually, and not jointly, for a husband or a wife, except that the husband and wife may jointly waive in writing their right to claim, during the period the case commenced by filing the petition is pending, the general exemptions and instead elect to utilize the alternative exemptions. This bill would provide that a joint waiver is not required from a debtor who is separated from his or her spouse as of the date the bankruptcy petition is filed, unless, on the petition date, the debtor and the debtor’s spouse shared an ownership interest in property that could be exempted as a homestead, as specified. Existing law includes an alternative exemption for the debtor’s right to receive a payment under a stock bonus, pension, profit-sharing, annuity, or similar plan or contract on account of illness, disability, death, age, or length of service to the extent reasonably necessary for the support of the debtor and any dependent of the debtor, unless all of several specified conditions apply, including that the plan or contract does not qualify under specified provisions of the federal Internal Revenue Code of 1986. This bill would provide that a plan or contract covered by this alternative exemption would be exempt even if it did not qualify under the specified provisions of the federal Internal Revenue Code of 1986 so long as the sole basis for the failure to qualify is a technical defect. Existing law includes alternative exemptions for the debtor’s right to receive, or property that is traceable to, a payment on account of the wrongful death of an individual of whom the debtor was a dependent and a payment under a life insurance contract that insured the life of an individual of whom the debtor was a dependent on the date of that individual’s death. This bill would make these exemptions applicable, as well, to payments regarding an individual of whom the debtor was a spouse. Existing law includes an alternative exemption for the debtor’s right to receive, or property that is traceable to, a payment on account of personal bodily injury of the debtor or an individual of whom the debtor is a dependent. Existing law sets this amount as $25,575, as adjusted by the Judicial Council. This bill would make this exemption applicable, as well, to a payment on account of personal bodily injury of the spouse of the debtor. Existing law includes an alternative exemption for the debtor’s right to receive, or property that is traceable to, a payment in compensation of loss of future earnings of the debtor or an individual of whom the debtor is or was a dependent to the extent reasonably necessary for the support of the debtor and a dependent of the debtor. This bill would make this exemption applicable, as well, to a payment regarding an individual of whom the debtor is or was a spouse, and would provide that the exemption applies to the extent reasonably necessary for the support of the debtor and a spouse or dependent of the debtor. Existing law provides that vacation credits, as defined, are exempt from enforcement of a money judgment without making a claim. This bill would delete the definition of “vacation credits” set forth in these provisions and expand this general exemption to also include accrued or unused vacation pay, sick leave, and family leave. The bill also would add an alternative exemption for the debtor’s right to receive these expanded assets. Existing law exempts any combination of aggregate equity in motor vehicles, the proceeds of an execution sale of a motor vehicle, and the proceeds of insurance or other indemnification for the loss, damage, or destruction of a motor vehicle. Existing law sets this amount of this exemption, as adjusted by the Judicial Council, at $2,900. Existing law includes an alternative exemption for up to $5,100, as adjusted by the Judicial Council, of the debtor’s interest in one or more motor vehicles. This bill would increase the amount of the general and alternative exemption for motor vehicle equity to $6,000, and make conforming changes. This bill would provide that the aggregate interest of a debtor who is engaged in business, not to exceed $5,000 in cash or deposit accounts, accounts receivable, and inventory of the business is exempt. Existing law includes an alternative exemption for the debtor’s right to receive alimony, support, or separate maintenance, to the extent reasonably necessary for the support of the debtor and any dependent of the debtor. This bill would provide that these assets are exempt, thereby adding a general exemption matching the existing alternative exemption. Existing law provides that all amounts held, controlled, or in process of distribution by a private retirement plan, for the payment of benefits as an annuity, pension, retirement allowance, disability payment, or death benefit from a private retirement plan are exempt. Existing law defines “private retirement plan” to include self-employed retirement plans and individual retirement annuities or accounts provided for in the federal Internal Revenue Code of 1986, including individual retirement accounts qualified under specified provisions of that code. This bill would expand this exemption to also include individual retirement accounts that do not qualify under those specified provisions on the basis of a technical defect alone. Existing law provides that various causes of action and awards of damages or settlements arising out of those actions are exempt to varying extent, as specified. This bill would provide that a cause of action arising out of or regarding the violation of any law relating to the judgment debtor’s employment is exempt without making a claim, except as provided in specified statutory provisions, and an award of damages or a settlement arising out of or regarding the violation of any law relating to the judgment debtor’s employment is exempt to the extent necessary for the support of the judgment debtor and the spouse and dependents of the judgment debtor. The bill also would add identical alternative exemptions in this regard. Existing law provides that the proceeds of sale or of insurance or other indemnification for damage or destruction of a homestead, the proceeds received as compensation for a homestead acquired for public use, or the proceeds from a voluntary sale of a declared homestead, are exempt in the amount of the homestead exemption provided in a specified statute for a period of 6 months after the time the proceeds are actually received by the judgment debtor, except as provided. This bill would specify that, in a case under Title 11 of the United States Code, regardless of whether the sale is voluntary or involuntary, the expiration of the 6-month period at any time after the filing of the case does not terminate the exempt status of the homestead or its proceeds. Existing law provides that a specified portion of equity in a homestead, as defined, is exempt from execution to satisfy a judgment debt and prescribes that the amount of the homestead exemption is either $75,000, $100,000, or $175,000, depending on certain characteristics of the homestead’s residents. This bill would increase these exemptions to $100,000, $150,000, or $300,000, respectively.This bill would incorporate changes to Section 703.140 of the Code of Civil Procedure proposed by both this bill and SB 1005, which would become operative only if both bills are enacted and become effective on or before January 1, 2017, and this bill is chaptered last. Hide
An Act to Amend, Repeal, and Add Section 706.050 of the Code of Civil Procedure, Relating to Wage Garnishment. SB 501 (2015-2016) WieckowskiOpposeYes
The Wage Garnishment Law prescribes the procedure for withholding an employee’s earnings for purposes of paying a debt. The law requires that a levy of execution upon the earnings of an employee be… More
The Wage Garnishment Law prescribes the procedure for withholding an employee’s earnings for purposes of paying a debt. The law requires that a levy of execution upon the earnings of an employee be made by service of an earnings withholding order upon the employer. An earnings withholding order is issued by a levying officer upon receiving an application submitted by a judgment creditor, as specified. Existing law prohibits the amount of an individual judgment debtor’s weekly disposable earnings subject to levy under an earnings withholding order from exceeding the lesser of 25% of the individual’s weekly disposable earnings or the amount by which the individual’s disposable earnings for the week exceed 40 times the state minimum hourly wage in effect at the time the earnings are payable, as specified, unless an exception applies. An employer is required, except as otherwise provided by statute, to withhold the amounts required by an earnings withholding order from all earnings of the employee payable for any pay period of the employee which ends during the withholding period. This bill would, commencing July 1, 2016, reduce the prohibited amount of an individual judgment debtor’s weekly disposable earnings subject to levy under an earnings withholding order from exceeding the lesser of 25% of the individual’s weekly disposable earnings or 50% of the amount by which the individual’s disposable earnings for the week exceed 40 times the state minimum hourly wage, or applicable local minimum hourly wage, if higher, in effect at the time the earnings are payable. Hide
An Act to Add Section 1788.61 to the Civil Code, Relating to Debt Buying. SB 641 (2015-2016) WieckowskiOpposeYes
(1)Existing law, the Fair Debt Buying Practices Act, regulates the practice of buying charged-off consumer debt, as defined, sold or resold on or after January 1, 2014, for collection purposes and… More
(1)Existing law, the Fair Debt Buying Practices Act, regulates the practice of buying charged-off consumer debt, as defined, sold or resold on or after January 1, 2014, for collection purposes and prescribes the circumstances pursuant to which the debt buyer may bring suit. The act prohibits a court from entering a default or other judgment in an action initiated by a debt buyer against a debtor unless business records, authenticated through a sworn declaration, are submitted by the debt buyer to the court to establish the facts required to be alleged, as specified. This bill would permit a person to serve and file a notice of motion and motion to set aside a default or default judgment and for leave to defend an action relating to debt, if service of a summons did not result in actual notice to the person in time to defend an action brought by a debt buyer and a default or default judgment has been entered against the person in the action. The bill would require the person to make this service and filing within 6 years after entry of the default judgment or 180 days of the first actual notice of the action, whichever is earlier, except in cases of identity theft or mistaken identity, in which case the service and filing is to be made within 180 days of the first actual notice of the action. The bill would prescribe requirements regarding documents to be submitted to a court in instances of identity theft or mistaken identity. The bill would prescribe requirements for the filing, which would include an affidavit submitted to the court under oath stating that the person’s lack of actual notice in time to defend the action was not caused by his or her avoidance of service or inexcusable neglect. By expanding the crime of perjury, the bill would impose a state-mandated local program. The bill would permit a court to set aside the default or default judgment on whatever terms as may be just and allow the party to defend the action. The bill would apply to a judgment entered on and after January 1, 2010, except as specified. (2)The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. Hide
An Act to Amend Sections 1798.81.5, 1798.82, and 1798.85 of the Civil Code, Relating to Personal Information Privacy. AB 1710 (2013-2014) DickinsonOpposeYes
Existing law requires a person or business conducting business in California that owns or licenses computerized data that includes personal information, as defined, to disclose, as specified, a… More
Existing law requires a person or business conducting business in California that owns or licenses computerized data that includes personal information, as defined, to disclose, as specified, a breach of the security of the system or data following discovery or notification of the security breach to any California resident whose unencrypted personal information was, or is reasonably believed to have been, acquired by an unauthorized person. Existing law also requires a person or business that maintains computerized data that includes personal information that the person or business does not own to notify the owner or licensee of the information of any breach of the security of the data immediately following discovery, as specified. Existing law requires a person or business required to issue a security breach notification pursuant to these provisions to meet various requirements, including that the security breach notification provide specified information. This bill would require, with respect to the information required to be included in the notification, if the person or business providing the notification was the source of the breach, that the person or business offer to provide appropriate identity theft prevention and mitigation services, if any, to the affected person at no cost for not less than 12 months if the breach exposed or may have exposed specified personal information. Existing law requires a business that owns or licenses personal information about a California resident to implement and maintain reasonable security procedures and practices appropriate to the nature of the information, to protect the personal information from unauthorized access, destruction, use, modification, or disclosure. This bill would expand these provisions to businesses that own, license, or maintain personal information about a California resident, as specified. Existing law prohibits a person or entity, with specified exceptions, from publicly posting or displaying an individual’s social security number or doing certain other acts that might compromise the security of an individual’s social security number, unless otherwise required by federal or state law. This bill would also, except as specified, prohibit the sale, advertisement for sale, or offer to sell of an individual’s social security number. Hide
An Act to Amend Sections 2001, 2003, 2010, 2031, 2032, 2036, 2038, 2039, 2043, 2082, 2088, 2102, 2103, 2105, 2124, and 2175 Of, and to Add Section 2176 To, the Financial Code, Relating to Money Transmission. AB 2209 (2013-2014) DickinsonOpposeYes
Existing law, the Money Transmission Act, provides for the regulation of money transmissions and, unless an exemption applies, requires the licensure by the Commissioner of Business Oversight of… More
Existing law, the Money Transmission Act, provides for the regulation of money transmissions and, unless an exemption applies, requires the licensure by the Commissioner of Business Oversight of persons, including corporations and limited liability companies, to engage in this activity. Existing law declares the need to regulate money transmission businesses in the state, to maintain public confidence in financial institutions doing business in this state, and to preserve the health, safety, and general welfare of the people of California. Under existing law, a licensee under the act is required to file various reports with the commissioner with specified information, including the total volume of activities, number of transactions conducted, and outstanding money transmissions in California and the United States in a given calendar year quarter, as specified. Existing law makes it a felony to intentionally make a false statement, misrepresentation, or false certification in a record filed or required to be maintained under the act, or to knowingly engage in an activity for which a license is required without being licensed or exempt from licensure. This bill would exempt from the requirements of the act a transaction in which the recipient of the money or other monetary value is an agent of the payee pursuant to a preexisting written contract and delivery of the money or other monetary value to the agent satisfies the payor’s obligation to the payee. The bill would revise and reorganize various provisions of the act relating to, among other things, the definition of relevant terms under the act and the required contents of license applications and customer receipts. The bill would require that the report described above also include, if feasible, whether an outstanding money transmission was conducted via a mobile application or an Internet Web site. By expanding the scope of an existing crime, this bill would impose a state-mandated local program. This bill would authorize the commissioner to exercise any power set forth in the act with respect to a money transmission business, if necessary for the general welfare of the public, regardless of the licensure status of the money transmission business. The bill would revise provisions relating to the commissioner’s authority to provide guidance to prospective applicants for a license to operate a money transmission business. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. Hide
An Act to Add Chapter 22.3 (Commencing with Section 22590) to Division 8 of the Business and Professions Code, Relating to Personal Information. SB 1348 (2013-2014) DeSaulnierOpposeNo
Existing law protects the privacy of personal information, including customer records, and requires a business that owns or licenses personal information about a California resident to implement and… More
Existing law protects the privacy of personal information, including customer records, and requires a business that owns or licenses personal information about a California resident to implement and maintain reasonable security procedures and practices appropriate to the nature of the information, in order to protect the personal information from unauthorized access, destruction, use, modification, or disclosure. Existing law requires an operator of a commercial Internet Web site or online service that collects personally identifiable information through the Internet about consumers residing in California who use or visit its commercial Internet Web site or online service to conspicuously post its privacy policy on its Internet Web site or online service and to comply with that policy. Unless required or authorized by federal or state law to share the personal information with a 3rd party or prohibited by federal or state law from providing access to the personal information, this bill would require a data broker, as defined, that sells or offers for sale to a 3rd party the personal information of any resident of California, to (1) permit a subject individual, as defined, to review his or her personal information and (2) conspicuously post an opt-out notice on its Internet Web site that would include specific and easily understood instructions for the subject individual to make a demand on the data broker’s Internet Web site that his or her personal information not be shared with or sold to a 3rd party. The bill would require a data broker that receives a demand from a subject individual pursuant to these provisions to cease sharing or selling that information with a 3rd party as soon as is reasonably possible, and thereafter to only retain as much personal information as is reasonably necessary to comply with the subject individual’s demand. This bill would also make it unlawful for a data broker to solicit or accept the payment of a fee or other consideration to review or permanently remove personal information from the data broker’s database. The bill would authorize a subject individual to bring a civil action against any person in violation of these provisions for specified damages. Hide
An Act to Add and Repeal Title 1.3E (Commencing with Section 1748.70) of Part 4 of Division 3 of the Civil Code, Relating to Payment Cards. SB 1351 (2013-2014) HillOpposeNo
Existing law generally provides for the regulation of credit and debit cards, including, but not limited to, limitations on the methods for offering and denying a credit card, requirements for… More
Existing law generally provides for the regulation of credit and debit cards, including, but not limited to, limitations on the methods for offering and denying a credit card, requirements for listing the name appearing on a credit card, and restrictions on a person’s liability for an unauthorized use of his or her credit or debit card. This bill would require retailers, starting April 1, 2016, except as specified, that accept a payment card, as defined, to provide a means of processing card-present payment card transactions involving payment cards equipped with embedded microchips or any other technology that is more secure than static magnetic stripe technology for card-present fraud prevention. The bill would also require specified contracts entered into between a financial institution and a payment card network, as those terms are defined, to include a provision requiring that 75% of new or replacement payment cards issued to a cardholder with a California mailing address have an embedded microchip or any other technology that is more secure than microchip technology for card-present fraud prevention. The bill would make legislative findings and declarations in this regard and would repeal these requirements on or before January 1, 2020, unless a later enacted statute, that is enacted before January 1, 2020, deletes or extends that date. Hide
An Act to Amend Sections 1747.02 and 1747.08 of the Civil Code, Relating to Credit Cards. SB 383 (2013-2014) JacksonOpposeNo
Existing state and federal law regulates the provision of credit and the use of credit cards. The Song-Beverly Credit Card Act of 1971 generally regulates credit card transactions and prohibits a… More
Existing state and federal law regulates the provision of credit and the use of credit cards. The Song-Beverly Credit Card Act of 1971 generally regulates credit card transactions and prohibits a person or entity that accepts credit cards for the transaction of business from requesting, or requiring as a condition to accepting the credit card, that the cardholder write any personal identification information, as defined, upon the credit card transaction form or otherwise. Existing law prohibits a person or entity that accepts credit cards for the transaction of business from requesting, or requiring as a condition to accepting the credit card, that the cardholder provide his or her personal identification information to the person or entity to be written or caused to be written upon the credit card transaction form or otherwise. Notwithstanding those provisions, existing law authorizes a person or entity that accepts credit cards for the transaction of business to require the cardholder, as a condition to accepting the credit card, to provide reasonable forms of positive identification, which may include a driver’s license or a California state identification card, provided that the information is not written or recorded on the credit card transaction form or otherwise. Existing law authorizes the use of ZIP Code information in a sales transaction at a retail motor fuel dispenser or retail motor fuel payment island with an automated cashier that uses the ZIP Code information solely for prevention of fraud, theft, or identity theft. This bill would authorize a person or entity that accepts credit cards in an online transaction involving an electronic downloadable product, as defined, to require a cardholder, as a condition to accepting a credit card as payment in full or in part, in an online transaction involving an electronic downloadable product, to provide personal identification information, as defined, if it requires that information for the detection, investigation, or prevention of fraud, theft, identity theft, or criminal activity, or for enforcement of terms of sale, and the personal identification information is used solely for those purposes. The bill would require that person or entity to destroy or dispose of the personal identification information it requires in a secure manner after it is no longer needed for those purposes. The bill would prohibit that person or entity from aggregating personal identification information and from sharing personal identification information it requires with any other person or entity, as specified. The bill, notwithstanding the foregoing provisions, would also authorize a person or entity accepting a credit card in an online transaction involving an electronic downloadable product to require a consumer to establish an account as a condition for purchase of the product and to provide personally identifiable information in connection with that account, as specified. The bill would also authorize a consumer, concurrent with completing a transaction for an electronically downloadable product, to elect to opt in to the collection and use of personally identifiable information provided certain disclosures are made and he or she is permitted to opt out prior to completing the transaction. Hide
An Act to Add Section 1798.825 to the Civil Code, Relating to Internet Transactions. AB 1080 (2011-2012) CalderonOpposeNo
Existing law sets forth comprehensive provisions governing funds transfers, as defined, including provisions related to the issuance and acceptance of payment orders, requirements for verification,… More
Existing law sets forth comprehensive provisions governing funds transfers, as defined, including provisions related to the issuance and acceptance of payment orders, requirements for verification, the effect of errors, the effect of acceptance of a payment order, and related provisions. This bill would require a business that provides banking or other financial services and that allows for the movement of specified funds over the Internet to collect, report, and update, on a quarterly basis, information relating to unauthorized transfers of funds over the Internet. This bill would also require these banks or financial institutions to post this report at each of their locations within the state, or on its Internet Web site, as specified. Hide
AB 125 (2011-2012) SupportYes
An Act to Amend Sections 2923.5 and 2924g Of, to Amend and Repeal Section 2924 Of, and to Add Sections 2923.6, 2924.9, 2924.10, 2924.11, 2924.12, 2924.13, 2924.14, 2924.15, and 2924.16 To, the Civil Code, Relating to Mortgages. AB 1602 (2011-2012) EngSupportNo
(1)Existing law, until January 1, 2013, requires a mortgagee, trustee, beneficiary, or authorized agent to contact the borrower prior to filing a notice of default to explore options for the borrower… More
(1)Existing law, until January 1, 2013, requires a mortgagee, trustee, beneficiary, or authorized agent to contact the borrower prior to filing a notice of default to explore options for the borrower to avoid foreclosure, as specified. Existing law requires a notice of default to include a declaration stating that the trustee, beneficiary, or authorized agent has contacted the borrower, or has tried with due diligence to contact the borrower, or that no contact was required for a specified reason. This bill would additionally require the borrower to be provided, if applicable, with a deadline for the borrower to submit an initial application for a loan modification. The bill would require the declaration to also state that the borrower was not a servicemember or dependent of a servicemember entitled to benefits under the federal Servicemembers Civil Relief Act, that the mortgagee, trustee, beneficiary, or authorized agent has possession of the note and mortgage, or deed of trust, and other specified documents that evidence the right to foreclose, and has attached copies thereof to the declaration, as specified, or a separate declaration containing specified information, if the above described documents cannot be located. The bill would prescribe procedures and notices that must be sent by the mortgagee, trustee, beneficiary, or authorized agent if the notice of default was filed prior to January 1, 2013, and a notice of rescission was not subsequently recorded. The bill would prohibit recording a notice of default unless a specified written notice has been sent at least 14 days before a notice of default is recorded. The bill would prohibit a notice of default from being recorded while a loan modification application is pending, under specified conditions, and would establish additional procedures to be followed regarding the loan modification application before a notice of default could be recorded. (2)Existing law imposes various requirements that must be satisfied prior to exercising a power of sale under a mortgage or deed of trust, including, among other things, recording a notice of sale. This bill would impose additional requirements pertaining to applications for loan modifications that must be satisfied prior to recording a notice of sale in order to exercise a power of sale. The bill would require a written notice to the borrower after the postponement of a foreclosure sale in order to advise the borrower of any new sale date, time, and location when the new sale date is at least 10 calendar days after the date of postponement, as specified. The bill would establish procedures for a loan modification application process to be used after a notice of sale has been recorded. The bill would prohibit a notice of sale from being recorded under certain conditions, including, among others, if the borrower is in compliance with a loan modification plan, forbearance, or loan repayment plan, as specified, or if a short sale or deed-in-lieu of foreclosure has been approved, as specified. The bill would require mortgagees, trustees, beneficiaries, or authorized agents to track and record specified data pertaining to loan modification agreements. The bill would prohibit the collection of late fees while a loan modification or short sale is being considered, if certain criteria are met. (3)The bill would repeal duplicate provisions of law. (4)The bill would authorize a borrower to seek an injunction of a pending trustee’s sale if a notice of sale has been recorded and the borrower reasonably believes that the mortgagee, trustee, beneficiary, or authorized agent failed to comply with specified requirements. The bill would authorize the greater of actual damages or $10,000 in statutory damages if there is a failure to comply with specified requirements by the mortgagee, trustee, beneficiary, or authorized agent and the property is sold at a foreclosure sale. The bill would authorize the greater of treble damages or $50,000 in statutory damages if the failure to comply is found to be intentional or reckless or resulted from willful misconduct, as specified. (5)The bill would establish the Office of Homeowner Protection, that would have responsibility, among other things, for responding to inquiries and complaints from individuals regarding foreclosures and other procedures and requirements as described above, attempting to seek compliance by mortgagees, trustees, beneficiaries, or authorized agents regarding foreclosures and other procedures and requirements as described above, and maintaining an Internet Web site that is capable of receiving inquiries and complaints from individuals and that provides information to the public about publicly available resources intended to help individuals avoid foreclosure. The bill would express the intent of the Legislature that the office be funded by payments made available to the Attorney General via the Special Deposit Fund, created pursuant to specified federal settlement agreements. Hide
An Act to Amend Sections 215, 225.5, and 226 Of, and to Add Section 213.5 To, the Labor Code, Relating to Payroll Cards. AB 51 (2011-2012) YamadaOpposeNo
(1)Existing law prohibits an employer from issuing in payment of wages due certain instruments, including an order, check, draft, note, memorandum, scrip, coupon, card, or other acknowledgment of… More
(1)Existing law prohibits an employer from issuing in payment of wages due certain instruments, including an order, check, draft, note, memorandum, scrip, coupon, card, or other acknowledgment of indebtedness or redeemable instrument, unless specified requirements are satisfied. This bill would authorize an employer to pay an employee’s wages by means of a payroll card, as defined, provided that specified requirements are satisfied. In addition, the bill would make a violation of its provisions a misdemeanor and would subject a violator to specified civil penalties. By creating new crimes, this bill would impose a state-mandated local program. (2)Existing law requires an employer to provide employees, at the time wages are paid, with an itemized statement containing specified items regarding the wages earned. This bill would extend the requirement for an itemized statement of wages to an employer who pays his or her employees via payroll cards. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. Hide
SB 761 (2011-2012) LowenthalOpposeNo
An Act to Amend Sections 215 and 225.5 Of, and to Add Section 213.5 To, the Labor Code, Relating to Employment. SB 931 (2011-2012) EvansOpposeNo
Existing law prohibits an employer from issuing in payment of wages due certain instruments, including an order, check, draft, note, memorandum, scrip, coupon, card, or other acknowledgment of… More
Existing law prohibits an employer from issuing in payment of wages due certain instruments, including an order, check, draft, note, memorandum, scrip, coupon, card, or other acknowledgment of indebtedness or redeemable instrument, unless specified requirements are satisfied. This bill would authorize an employer to pay an employee’s wages by means of a payroll card, as defined, provided that specified requirements are satisfied. In addition, the bill would make a violation of its provisions a misdemeanor and would subject a violator to specified civil penalties. By creating new crimes, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. Hide
An Act to Add Chapter 3.6 (Commencing with Section 1024.5) to Part 3 of Division 2 of the Labor Code, Relating to Employment. AB 482 (2009-2010) MendozaOpposeNo
The federal Fair Credit Reporting Act (FCRA) and the state Consumer Credit Reporting Agencies Act define and regulate consumer credit reports and authorize the use of consumer credit reports for… More
The federal Fair Credit Reporting Act (FCRA) and the state Consumer Credit Reporting Agencies Act define and regulate consumer credit reports and authorize the use of consumer credit reports for employment purposes, pursuant to specified requirements. The FCRA provides that it does not preempt state law, except as specifically provided or to the extent that state laws are inconsistent with its provisions. Existing federal and state law specify the procedures that an employer is required to follow before requesting a report and if adverse action is taken based on the report. Under existing law, an employer may request a credit report for employment purposes so long as he or she provides written notice of the request to the person for whom the report is sought. Existing law requires that the written notice inform the person for whom the consumer credit report was sought of the source of the report and contain space for the person to request a copy of the report. Existing law further requires an employer, whenever he or she bases an adverse employment decision on information contained in a consumer credit report, to advise the person for whom the report was sought that an adverse action was taken based upon information contained in the report and provide the person with the name and address of the consumer credit agency making the report. This bill would prohibit an employer, with the exception of certain financial institutions, from obtaining a consumer credit report for employment purposes unless the information is (1) substantially job-related, meaning that the position of the person for whom the report is sought has access to money, other assets, or trade secrets or other confidential information, and (2) the position of the person for whom the report is sought is a position in the state Department of Justice, a managerial position, that of a sworn peace officer or other law enforcement position, or a position for which the information contained in the report is required to be disclosed by law or to be obtained by the employer. Hide
An Act to Amend Section 1748.30 Of, and to Add Section 1748.33 To, the Civil Code, Relating to Debit Cards. SB 933 (2009-2010) OropezaSupportNo
Existing law prohibits a retailer from imposing a surcharge on a credit cardholder who elects to use a credit card instead of paying by cash, check or similar means, as provided. Existing law also… More
Existing law prohibits a retailer from imposing a surcharge on a credit cardholder who elects to use a credit card instead of paying by cash, check or similar means, as provided. Existing law also provides that any retailer who imposes a surcharge and who fails to pay that amount to the cardholder within 30 days of written demand is liable for 3 times the amount at which actual damages are assessed. The cardholder is entitled to recover reasonable attorney’s fees and costs incurred in the action. Existing law exempts from these provisions charges for payment made to an electrical, gas, or water corporation. Existing law also regulates the use of debit cards, as defined. This bill would make these provisions applicable to a retailer in any sales, service, or lease transaction with a consumer who elects to use a debit card instead of paying by cash, check, or similar means. This bill would also include a prepaid card or other means of access to prepaid funds, as provided, in the definition of debit card. Hide