California 2017-2018 Regular Session Status: In Committee

SB 428 — California Finance Lenders Law.

Last action — Returned to Secretary of Senate pursuant to Joint Rule 56.

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

This bill died with 2017-2018 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 (CFLL) , provides for the licensure and regulation of finance lenders and brokers by the Commissioner of Business Oversight. The CFLL defines charges for its purposes to include aggregate interest, fees, bonuses, commissions, brokerage, discounts, expenses, and other forms of costs charged, contracted for, or received by a licensee or any other person in connection with the investigating, arranging, negotiating, procuring, guaranteeing, making, servicing, collecting, and enforcing of a loan or forbearance of money, credit, goods, or things in action, or any other service rendered. The CFLL also specifies that charges do not include, among other things, fees paid to a licensee for the privilege of participating in an open-end-credit program, as provided. This bill would make nonsubstantive changes to that provision specifying items that are not charges for purposes of the CFLL.

Bill Text

What changed in the latest version

1 added · 1 removed

1 line(s) added, 1 removed.

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Action History

  1. Returned to Secretary of Senate pursuant to Joint Rule 56.

  2. Referred to Com. on RLS.

  3. From printer. May be acted upon on or after March 18.

  4. Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

  • Vidak · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Vidak

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 SB 428 do?
Existing law, the California Finance Lenders Law (CFLL) , provides for the licensure and regulation of finance lenders and brokers by the Commissioner of Business Oversight. The CFLL defines charges for its purposes to include aggregate interest, fees, bonuses, commissions, brokerage, discounts, expenses, and other forms of costs charged, contracted for, or received by a licensee or any other person in connection with the investigating, arranging, negotiating, procuring, guaranteeing, making, servicing, collecting, and enforcing of a loan or forbearance of money, credit, goods, or things in action, or any other service rendered. The CFLL also specifies that charges do not include, among other things, fees paid to a licensee for the privilege of participating in an open-end-credit program, as provided. This bill would make nonsubstantive changes to that provision specifying items that are not charges for purposes of the CFLL.
Who sponsors SB 428?
SB 428 is sponsored by Vidak.
What is the current status of SB 428?
This bill died with 2017-2018 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 SB 428?
Track SB 428 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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