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California Self Storage Association

AB 1312 (Committee on Banking and Finance) Financial transactions

Friday, March 17, 2023 1:25 PM | Ross Hutchings (Administrator)

AB 1312(Committee on Banking and Finance)   Financial transactions.    

Current Text:  Chaptered: 7/21/2023   

Status: 7/21/2023-Approved by the Governor. Chaptered by Secretary of State - Chapter 100, Statutes of 2023. 

Location: 7/21/2023-A. CHAPTERED 

Summary: The California Financing Law prohibits a person from engaging in the business of a finance lender or broker without obtaining a license from the Commissioner of Financial Protection and Innovation. The Banking Law, provides for the regulation of foreign (other state) banks that maintain a facility or branch office in California by the Department of Financial Protection and Innovation. The law requires these banks to pay fees to the Commissioner of Financial Protection and Innovation, as specified. The Rosenthal Fair Debt Collection Practices Act prohibits debt collectors from engaging in unfair or deceptive acts or practices in the collection of consumer debts. The act requires a debt collector to cease collection activities until completion of a specified review upon receipt from the debtor of specified documents, including the debtor’s written statement that the debtor claims to be the victim of identity theft with respect to the specific debt being collected by the debt collector. The act requires the debt collector to take specified actions within 10 business days of receiving these documents. The act requires that statement to consist of specified information, including a specified certification. The act requires a debt collector to provide specified information to a debtor who notifies the debt collector orally that they are a victim of identity theft, and to a debtor who notifies a debt collector in writing that they are a victim of identity theft that omits specified information. This bill would make technical changes to these provisions. 

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