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CA AB2006

Bill

Status

Passed

9/7/2012

Primary Sponsor

John Perez

Click for details

Origin

State Assembly

2011-2012 Session

AI Summary

  • Authorizes credit unions to sell checks and money transfer instruments (including domestic and international electronic funds transfers) to natural persons in their field of membership, regardless of membership status.

  • Permits credit unions to cash checks and similar money transfer instruments and receive electronic fund transfers for non-members in their field of membership.

  • Allows credit unions to charge fees for these services, capped at the actual cost of providing them.

  • Amends California Financial Code Section 14800.1 to create exceptions to existing prohibitions on extending credit union benefits to non-members.

Legislative Description

Credit union services.

Last Action

Chaptered by Secretary of State - Chapter 246, Statutes of 2012.

9/7/2012

Committee Referrals

Rules4/26/2012
Banking and Finance3/8/2012

Full Bill Text

No bill text available