Consumer loans.
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
- Stage
- Session ended
- Started in
- Assembly
- Sponsor
- 1
- Latest action
- Mar 2, 2020
What it does
Existing law, the California Financing Law, prohibits a person, as defined, from engaging in the business of a finance lender or broker without obtaining a license from the commissioner. The law prohibits a licensee who makes a loan of a bona fide principal amount of less than $10,000 from receiving charges that exceed specified limits based on the amount of the principal, including, for a loan of a bona fide principal amount of $2,500 but less than $10,000, a rate not exceeding an annual simple interest rate of 36 percent per annum plus the Federal Funds Rate.
Where it stands
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
Introduced (Done)
Committee (Current step)
Floor (Needs attention)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money in California.