California 2011-2012 Regular Session Status: In Committee

AB 336 — Title loans.

Last action — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Assembly
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2011-2012 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Existing law, the California Finance Lenders Law, provides for the licensure and regulation by the Commissioner of Corporations of those engaged in making consumer loans, as defined, and makes a willful violation of its provisions a misdemeanor. Existing law places a cap on interest rates for consumer loans of less than $2,500. With respect to loans secured by a lien on a motor vehicle, existing law requires a licensee to give at least 15 days' written notice of intent to dispose of a repossessed or surrendered motor vehicle to all persons liable on the loan, as specified. Existing law makes those persons liable for any deficiency after the vehicle is repossessed or surrendered if that notice is given within 60 days of repossession or surrender, except as specified. With respect to title loans, as defined, this bill would require a licensee to give at least 30 days' written notice of intent to dispose of a repossessed or surrendered motor vehicle to all persons liable on the loan and would eliminate the liability of those persons when the borrower defaults and the lender disposes of the surrendered or repossessed motor vehicle. The bill would prohibit a licensee from making a title loan unless the licensee provides certain disclosures to the borrower and underwrites each loan to determine the borrower's ability and willingness to repay the loan, as specified. The bill would also prohibit a licensee from structuring a title loan transaction as if it were a sale-leaseback of the vehicle. The bill would enact other provisions relative to title loans and would make a person who violates these provisions liable for a civil penalty of no more than $10,000 in addition to any other remedies prescribed by law. Because a willful violation of the bill's provisions would be a crime, the 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.

Bill Text

Action History

  1. From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  2. Died pursuant to Art. IV, Sec. 10(c) of the Constitution.

  3. In committee: Set, second hearing. Held without recommendation.

  4. Re-referred to Com. on B. & F.

  5. From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.

  6. In committee: Hearing postponed by committee.

  7. In committee: Set, first hearing. Hearing canceled at the request of author.

  8. Referred to Com. on B. & F.

  9. From printer. May be heard in committee March 13.

  10. Read first time. To print.

Sponsors

  • Dickinson · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Dickinson

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
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Frequently asked questions

What does AB 336 do?
Existing law, the California Finance Lenders Law, provides for the licensure and regulation by the Commissioner of Corporations of those engaged in making consumer loans, as defined, and makes a willful violation of its provisions a misdemeanor. Existing law places a cap on interest rates for consumer loans of less than $2,500. With respect to loans secured by a lien on a motor vehicle, existing law requires a licensee to give at least 15 days' written notice of intent to dispose of a repossessed or surrendered motor vehicle to all persons liable on the loan, as specified. Existing law makes those persons liable for any deficiency after the vehicle is repossessed or surrendered if that notice is given within 60 days of repossession or surrender, except as specified. With respect to title loans, as defined, this bill would require a licensee to give at least 30 days' written notice of intent to dispose of a repossessed or surrendered motor vehicle to all persons liable on the loan and would eliminate the liability of those persons when the borrower defaults and the lender disposes of the surrendered or repossessed motor vehicle. The bill would prohibit a licensee from making a title loan unless the licensee provides certain disclosures to the borrower and underwrites each loan to determine the borrower's ability and willingness to repay the loan, as specified. The bill would also prohibit a licensee from structuring a title loan transaction as if it were a sale-leaseback of the vehicle. The bill would enact other provisions relative to title loans and would make a person who violates these provisions liable for a civil penalty of no more than $10,000 in addition to any other remedies prescribed by law. Because a willful violation of the bill's provisions would be a crime, the 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.
Who sponsors AB 336?
AB 336 is sponsored by Dickinson.
What is the current status of AB 336?
This bill died with 2011-2012 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track AB 336?
Track AB 336 free on One Click Politics — get push/email alerts when it moves.

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