California 2015-2016 Regular Session Status: In Committee

SB 979 — California Finance Lenders Law.

Last action — Referred to Com. on RLS.

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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 2015-2016 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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. Referred to Com. on RLS.

  2. From printer. May be acted upon on or after March 12.

  3. 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
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 SB 979 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 979?
SB 979 is sponsored by Vidak.
What is the current status of SB 979?
This bill died with 2015-2016 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 979?
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Last checked for changes 3 months ago · updated continuously

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