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CA AB2118
Bill
Status
4/12/2010
Primary Sponsor
Edward Hernandez
Click for details
AI Summary
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Revises requirements for dealers to disclose consumer credit scores obtained from credit reporting agencies when a consumer applies for vehicle financing for personal use.
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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.
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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.
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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