CA AB2562

Removes date restrictions on when reservists can access payment deferral benefits, making benefits available to any reservist called to active duty regardless of when the call occurred.

Allows reservists to defer payments on mortgages, credit cards, retail installment accounts, up to two vehicle loans, property taxes on primary residences, and utility company obligations during active duty.

Limits deferral period to the lesser of 180 days or the period of active duty plus 60 calendar days, with total deferment not exceeding 180 days within any 365-day period.

Requires reservists to provide activation or deployment orders and documentation to obligors, and mandates employers furnish proof within five working days if military pay does not constitute more than 90 percent of the reservist's previous salary.

Obligates lenders to extend the term of closed-end credit obligations by the number of months deferred and permits restricting additional credit availability during open-end credit deferrals.