CaliforniaConsumer loans: residential real property rental payments.
What it does
The California Financing Law (CFL) generally regulates consumer loan lending practices by finance lenders, brokers, and program administrators. The CFL makes a willful violation of its provisions a crime.
More detail
This bill would prescribe requirements on loans provided to consumers for the purpose of advancing residential real property rent payments for certain finance lenders and servicers, including prohibiting more than 2 installment payments for the loans, specifying the amount that may be charged for late fees, prescribing disclosure requirements, and prohibiting advertising 0% APR for the loan unless specified conditions are met. By expanding the scope of a crime under the CFL, 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.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jun 11In committee: Hearing postponed by committee.Latest
- Jun 3Referred to Coms. on B. & F.I. and JUD.Minor
- May 21In Senate. Read first time. To Com. on RLS. for assignment.Minor
- Vote recorded AB 2350 McKinnor Assembly Third Reading. Result: pass.Lower
- May 21Read third time. Passed. Ordered to the Senate. (Ayes 52. Noes 14. Page 5180.)Passed Assembly
- May 7Read second time. Ordered to third reading.Minor
- May 6From committee: Do pass. (Ayes 10. Noes 3.) (May 6).Minor
- Vote recorded Do pass. Result: pass.Lower
- Apr 29Re-referred to Com. on APPR.Minor
- Apr 28Read second time and amended.Major
- Apr 27From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (April 23).Major
- Apr 23
- Vote recorded Do pass as amended and be re-referred to the Committee on [Appropriations]. Result: pass.Lower
- Apr 6In committee: Hearing postponed by committee.
- Apr 6Re-referred to Com. on B. & F.Minor
- Mar 26From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.Major
- Mar 17Re-referred to Com. on B. & F.Minor
- Mar 16From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.Major
- Mar 16Referred to Coms. on B. & F. and JUD.Minor
- Feb 20From printer. May be heard in committee March 22.
- Feb 19Read first time. To print.Introduced