California 2015-2016 Regular Session Status: Enacted

AB 2907 — Financial institutions and services: regulation.

Last action — Chaptered by Secretary of State - Chapter 277, Statutes of 2016.

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

This bill has been enacted into law. Introduced March 08, 2016. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 5 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

(1) The Uniform Commercial Code–Bank Deposits and Collections, among other things, limits the time in which a customer, who receives a sufficient statement of account, as specified, from a bank regarding the payments of items for the customer's account, is able to assert a claim against the bank based on an unauthorized signature or alteration against the account. This bill would specify that a statement of account provides sufficient information if the item is described by item number, amount, and date of payment. (2) Existing law abolished the Department of Corporations, the Commissioner of Corporations, the Department of Financial Institutions, and the Commissioner of Financial Institutions and transferred the powers, duties, responsibilities, and functions of those entities and officers to the Department of Business Oversight and the Commissioner of Business Oversight. This bill would make technical, nonsubstantive changes to update references from these abolished entities and officers to the successor Department of Business Oversight and the Commissioner of Business Oversight. (3) Existing law reorganized the provisions of the Financial Code. This bill would make technical, nonsubstantive changes to update cross-references to the prior organization of the Financial Code to its current organization. (4) Existing law regulates telephonic sellers, as defined, and requires, among other things, a telephonic seller to, not less than 10 days prior to doing business in this state, register specific information with the Department of Justice. This bill would modify the definition of "telephonic seller" or "seller" to remove an outdated reference. (5) The Corporate Securities Law of 1968 authorizes the Commissioner of Business Oversight to enforce its provisions, including the power to issue an order for a violation of that law, and, under certain conditions, make claim for ancillary relief. This bill would make a technical, nonsubstantive change to include a cross-reference to a specific type of order issued by the commissioner within a procedure for a person to request a hearing regarding that order. The bill would also make a technical, nonsubstantive change to update a reference to the commissioner seeking administrative relief to instead refer to seeking ancillary relief. (6) Under federal law, the Office of Thrift Supervision merged with the Office of the Comptroller of the Currency. This bill would make technical, nonsubstantive changes to update references to the Office of Thrift Supervision to instead refer to the Office of the Comptroller of the Currency. (7) Existing law prohibits the Secretary of State from filing articles of incorporation setting forth a name in which "bank," "trust," "trustee," or related words appear, except as specified. This bill would remove a duplicate exception that does not prohibit the Secretary of State from filing these types of articles if a certificate of approval of the Commissioner of Business Oversight is attached to the articles.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 277, Statutes of 2016.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 11:45 a.m.

  4. Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 79. Noes 0. Page 5873.).

  5. In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 14 pursuant to Assembly Rule 77.

  6. Read third time. Passed. Ordered to the Assembly. (Ayes 37. Noes 0. Page 4869.).

  7. Read second time. Ordered to Consent Calendar.

  8. From committee: Do pass. To Consent Calendar. (Ayes 7. Noes 0.) (June 29).

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

  10. In committee: Hearing postponed by committee.

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

  12. In committee: Hearing postponed by committee.

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

  14. Referred to Com. on B. & F.I.

  15. In Senate. Read first time. To Com. on RLS. for assignment.

  16. Read third time. Passed. Ordered to the Senate. (Ayes 76. Noes 0. Page 4626.)

  17. Read second time. Ordered to Consent Calendar.

  18. From committee: Do pass. To Consent Calendar. (Ayes 12. Noes 0.) (April 25).

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

  20. From printer. May be heard in committee April 8.

  21. Read first time. To print.

Sponsors

  • Committee on Banking and Finance · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Committee on Banking and Finance

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"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

Votes

AB 2907 B. & F. Concurrence in Senate Amendments By DABABNEH

Passed 79 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 69001
Democratic 5000
Republican 5000
Total 79001
% of votes cast 99%0%0%1%
How each member voted (80)
Member Party Vote
Achadjian — Yea
Alejo — Yea
Bloom — Yea
Brough — Yea
Brown — Yea
Maienschein — Yea
Medina — Yea
Nazarian — Yea
Quirk — Yea
Rodriguez — Yea
Thurmond — Yea
Weber — Yea
Eggman — Yea
Cooper — Yea
Daly — Yea
Olsen — Yea
Salas — Yea
Frazier — Yea
Burke — Yea
Gomez — Yea
Gordon — Yea
Harper — Yea
Holden — Yea
Campos — Yea
Jones-Sawyer — Yea
Kim — Yea
Levine — Yea
Linder — Yea
Gray — Yea
Low — Yea
Mayes — Yea
Atkins — Yea
Chang — Yea
Bonilla — Yea
McCarty — Yea
Lopez — Yea
Melendez — Yea
Baker — Yea
Bigelow — Yea
Chau — Yea
Chiu — Yea
Chu — Yea
Chávez — Yea
Cooley — Yea
Dababneh — Yea
Dodd — Yea
Mullin — Yea
O'Donnell — Yea
Obernolte — Yea
Rendon — Yea
Ridley-Thomas — Yea
Santiago — Yea
Steinorth — Yea
Wagner — Yea
Waldron — Yea
Wilk — Yea
Williams — Yea
Mathis — Yea
Ting — Yea
Wood — Yea
Gatto — Yea
Hadley — Yea
Beth Gaines — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Jim Patterson — Yea
Lorena Gonzalez — Yea
Mark Stone — Yea
Roger Hernández — Not Voting
Travis Allen — Yea
Arambula, Joaquin Democratic Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gipson, Mike A. Democratic Yea
Irwin, Jacqui Democratic Yea
Dahle, Megan Republican Yea
Gallagher, James Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Lackey, Tom Republican Yea

Official roll call →

Consent Calendar 2nd AB2907 Committee On B. & F.

Passed 37 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 34002
Democratic 3000
Total 37002
% of votes cast 95%0%0%5%
How each member voted (39)
Member Party Vote
Anderson — Yea
Bates — Yea
Beall — Yea
Block — Yea
Hertzberg — Yea
Hueso — Yea
Leno — Yea
Leyva — Yea
Liu — Yea
Hill — Yea
Allen — Yea
Pan — Yea
Mitchell — Yea
De León — Yea
Glazer — Yea
Cannella — Yea
Hernandez — Yea
Lara — Yea
Mendoza — Yea
Monning — Yea
Moorlach — Yea
Morrell — Yea
Nielsen — Yea
Pavley — Yea
Roth — Yea
Wieckowski — Yea
Wolk — Yea
Hancock — Not Voting
Huff — Yea
Vidak — Yea
Fuller — Yea
Galgiani — Yea
Hall — Not Voting
Beth Gaines — Yea
Bill Berryhill — Yea
Mark Stone — Yea
Jackson, Corey A. Democratic Yea
McGuire, Mike Democratic Yea
Nguyen, Stephanie Democratic Yea

Official roll call →

AB 2907 B. & F. Consent Calendar Second Day

Passed 76 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Unaffiliated 66004
Democratic 5000
Republican 5000
Total 76004
% of votes cast 95%0%0%5%
How each member voted (80)
Member Party Vote
Achadjian — Yea
Alejo — Yea
Baker — Yea
Bloom — Yea
Brown — Yea
Brough — Yea
Jones-Sawyer — Yea
Linder — Yea
Maienschein — Yea
Mathis — Yea
Nazarian — Yea
Olsen — Yea
Quirk — Yea
Rodriguez — Yea
Thurmond — Yea
Waldron — Yea
Williams — Not Voting
Wood — Yea
Eggman — Yea
Cooper — Yea
Salas — Yea
Burke — Yea
Bonilla — Yea
Gatto — Yea
Gomez — Yea
Gordon — Yea
Gray — Yea
Harper — Yea
Holden — Yea
Lopez — Yea
Kim — Yea
Levine — Yea
Low — Yea
Mayes — Yea
McCarty — Yea
Campos — Yea
Atkins — Yea
Medina — Yea
Ridley-Thomas — Not Voting
Melendez — Yea
Bigelow — Yea
Chang — Yea
Chau — Yea
Chiu — Yea
Chu — Yea
Chávez — Yea
Cooley — Yea
Dababneh — Yea
Daly — Yea
Dodd — Yea
Mullin — Yea
O'Donnell — Yea
Obernolte — Yea
Rendon — Yea
Santiago — Yea
Steinorth — Yea
Ting — Yea
Wagner — Yea
Weber — Yea
Wilk — Yea
Frazier — Yea
Hadley — Yea
Beth Gaines — Not Voting
Cristina Garcia — Yea
Eduardo Garcia — Yea
Jim Patterson — Yea
Lorena Gonzalez — Yea
Mark Stone — Yea
Roger Hernández — Not Voting
Travis Allen — Yea
Arambula, Joaquin Democratic Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gipson, Mike A. Democratic Yea
Irwin, Jacqui Democratic Yea
Dahle, Megan Republican Yea
Gallagher, James Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Lackey, Tom Republican Yea

Official roll call →

Do pass. To Consent Calendar.

Passed 12 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 12000
Total 12000
% of votes cast 100%0%0%0%
How each member voted (12)
Member Party Vote
Achadjian — Yea
Brown — Yea
Low — Yea
Bonilla — Yea
Gatto — Yea
Hadley — Yea
Chau — Yea
Dababneh — Yea
Kim — Yea
Ridley-Thomas — Yea
Mark Stone — Yea
Travis Allen — Yea

Official roll call →

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does AB 2907 do?
(1) The Uniform Commercial Code–Bank Deposits and Collections, among other things, limits the time in which a customer, who receives a sufficient statement of account, as specified, from a bank regarding the payments of items for the customer's account, is able to assert a claim against the bank based on an unauthorized signature or alteration against the account. This bill would specify that a statement of account provides sufficient information if the item is described by item number, amount, and date of payment. (2) Existing law abolished the Department of Corporations, the Commissioner of Corporations, the Department of Financial Institutions, and the Commissioner of Financial Institutions and transferred the powers, duties, responsibilities, and functions of those entities and officers to the Department of Business Oversight and the Commissioner of Business Oversight. This bill would make technical, nonsubstantive changes to update references from these abolished entities and officers to the successor Department of Business Oversight and the Commissioner of Business Oversight. (3) Existing law reorganized the provisions of the Financial Code. This bill would make technical, nonsubstantive changes to update cross-references to the prior organization of the Financial Code to its current organization. (4) Existing law regulates telephonic sellers, as defined, and requires, among other things, a telephonic seller to, not less than 10 days prior to doing business in this state, register specific information with the Department of Justice. This bill would modify the definition of "telephonic seller" or "seller" to remove an outdated reference. (5) The Corporate Securities Law of 1968 authorizes the Commissioner of Business Oversight to enforce its provisions, including the power to issue an order for a violation of that law, and, under certain conditions, make claim for ancillary relief. This bill would make a technical, nonsubstantive change to include a cross-reference to a specific type of order issued by the commissioner within a procedure for a person to request a hearing regarding that order. The bill would also make a technical, nonsubstantive change to update a reference to the commissioner seeking administrative relief to instead refer to seeking ancillary relief. (6) Under federal law, the Office of Thrift Supervision merged with the Office of the Comptroller of the Currency. This bill would make technical, nonsubstantive changes to update references to the Office of Thrift Supervision to instead refer to the Office of the Comptroller of the Currency. (7) Existing law prohibits the Secretary of State from filing articles of incorporation setting forth a name in which "bank," "trust," "trustee," or related words appear, except as specified. This bill would remove a duplicate exception that does not prohibit the Secretary of State from filing these types of articles if a certificate of approval of the Commissioner of Business Oversight is attached to the articles.
Who sponsors AB 2907?
AB 2907 is sponsored by Committee on Banking and Finance.
What is the current status of AB 2907?
This bill has been enacted into law. Introduced March 08, 2016. Enacted.
Where can I track AB 2907?
Track AB 2907 free on One Click Politics — get push/email alerts when it moves.

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