- Stage
- Became law
- Started in
- Senate
- Sponsor
- 1
- Latest action
- Jul 9, 2018
What it does
Existing law requires a creditor to make certain disclosures to a consumer applying for a home equity loan, as defined. Under existing law, upon receipt of a specified written request from a borrower, the lender must suspend the borrower's equity line of credit for a minimum of 30 days. Upon receipt of both that request and a specified payment, existing law requires a lender to close the borrower's equity line of credit and release or reconvey the property secured by the line of credit, as specified. Existing law provides for the repeal of these equity line of credit suspension and closure provisions on July 1, 2019.
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
Once a bill is decided, the questions are about what is done with it in California.