Loading chat...

CA AB2118

Bill

Status

Engrossed

4/12/2010

Primary Sponsor

Edward Hernandez

Click for details

Origin

State Assembly

2009-2010 Session

AI Summary

  • Revises requirements for dealers to disclose consumer credit scores obtained from credit reporting agencies when a consumer applies for vehicle financing for personal use.

  • Simplifies disclosure requirements by requiring dealers to provide notices that comply with federal regulations under Title 16 of the Code of Federal Regulations Section 640.5(e), rather than specifying separate state-mandated content.

  • Deletes the previous requirement that disclosure information be presented in 10-point boldface type, maintaining only the requirement for 10-point type on a separate document from the sale or lease contract.

  • Retains existing exemptions that dealers need only provide one disclosure per transaction and that the requirement does not apply to motorcycles or off-highway motor vehicles.

Legislative Description

Vehicles: dealers: consumer credit score disclosure.

Last Action

In committee: Set first hearing. Failed passage. Reconsideration granted.

6/29/2010

Committee Referrals

Judiciary4/29/2010
Rules4/12/2010
Transportation3/11/2010

Full Bill Text

No bill text available